Far West

The IRS will soon publish a report about their findings from 300 questionnaires they sent out last year to governmental and 501(c)(3) issuers about their advance-refunding procedures and post-issuance compliance, an agency official told bond lawyers at the NABL conference.

Just a week after Moody's Investors Service included Los Angeles on a list of 32 cities with bonds on watch for downgrade, city officials are contemplating 259 layoffs.

Huntington Park, Calif. redevelopment and pension obligation bonds took a ratings hit Thursday after the city relied on a reserve surety to make a Sept. 1 debt payment.

Moody's says downgrades possible if California tax increase measures that would increase school funding fail in November.

Securities and Exchange Commission officials downplayed the potential for the so-called budget "sequestration" Thursday, but said dealers selling Build America Bonds should inform investors of any potentially risky call provisions.

Moody's Investors Service affirmed the Aa1 rating of King County, Wash. limited tax general obligation bonds and the Aaa rating of its unlimited tax GOs.

Fitch placed the A rating of revenue bonds for Medford, Ore. continuing care retirement community Rogue Valley Manor on negative watch due to the potential impact of a lawsuit.

Idaho's state controller, Donna Jones, retired to focus on recovering from injuries sustained in a car accident in May.

City of Hope, a Los Angeles County research hospital, received a bump from a stable to positive outlook on its A1 Moody's rating.

California Governor Jerry Brown appointed Jay Hansen to the California Health Facilities Financing Authority.