Far West

The District of Columbia's Chief Financial Officer will hand over nearly three years of internal audits and add a disclosure to the district's most recent debt issuance after a request from the Securities and Exchange Commission.

New York residents shoulder the highest state and local tax burdens at 12.8%, the Tax Foundation found in a new study.

If either of the judges overseeing bankruptcy cases for two California cities allows CalPERS, the state's pension system, to be included on a list of creditors it could encourage other cities to declare bankruptcy.

Marcy Edwards, senior financial policy advisor to the District of Columbia's chief financial officer, has been named a public board member of the Municipal Securities Rulemaking Board, the MSRB announced Monday.

The California Treasurer's Office clarified statements Treasurer Bill Lockyer made that appeared to call into question the legality of the commonly used certificate of participation debt structure.

The IRS is auditing $650 million of general obligation school bonds Clark County, Nev. School District issued in 2007 and $50 million of general obligation water and sewer bonds Fernley, Nev. Issued in 2007.

No one can be certain, at this point, if more distressed cities in California will follow the path of Stockton, San Bernardino and Mammoth Falls, and file bankruptcy.

Concerns about bankruptcies in California and their impact on the municipal market are still front and center for investors in the Golden State though market participants don't expect a large number of new Chapter 9 filings.

Seattle and King County leaders voted in favor of a memorandum of understanding to build a pro sports arena in the city's southern downtown area using $200 million of bonds.

Honolulu plans to sell $890.36 million of general obligation bonds during the week of Oct. 22 with Bank of America Merrill Lynch as Underwriter.