Far West

Steven Miller will become acting IRS commissioner after Doug Shulman finishes his five-year term on Nov. 9.

San Diego opted into two competing Property Assessed Clean Energy programs for commercial properties, both of which hope to issue bonds by early next year.

State's September revenues came in $147 million below budget estimates, leaving a $379 million gap year to date.

House Appropriations Chair Hal Rogers asked Treasury Secretary Tim Geithner to help eliminate rules requiring municipalities to defease outstanding bonds when selling or leasing their water systems to a private company.

Honolulu priced $913 million of bonds Thursday in a combined new money and refunding offering and said taxpayers saved more than $75 million.

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.