Far West

Municipal Securities Rulemaking Board officials said Tuesday the board is looking into the Libor scandal to see how it may impact the municipal bond industry.

Sussex County board member Eric Fly voiced his concern over the process and the plan itself, "The whole process is backwards. VDOT isn't going to give the public any time to voice their opinion prior to submitting their final application to the Federal Highway Administration. They clearly know that the public is against the idea and are therefore trying to jam it through before any public comment.

Private-activity bond issuance declined in 2011, mirroring the overall municipal bond market as state and local governments stepped up muni issuance during the last half of 2010 to take advantage of favorable stimulus law provisions before they expired, according to an annual survey and market participants.

Stockton, Calif. asked bondholders and bond insurers to take major hits during the mediation process that preceded the city's Chapter 9 bankruptcy filing.

Lifting the more than 100 year-old federal law restricting the height of buildings in the District of Columbia would eventually expand the city's "very limited tax base," D.C. Chief Financial Officer Natwar Gandhi told a House subcommittee.

The University of California will sell $900 million of revenue bonds next week for refinancing and to fund various projects across six campuses, including the renovation of the storied Pauley Pavilion basketball arena at UCLA.

Washington Treasurer James McIntire said the state saw good results from its four competitive bond sales on Wednesday that totaled $560 million

The San Francisco Municipal Transportation Agency raised $63.8 million last week from the sale of revenue bonds during its first foray ever into the municipal bond market.

Moody's Investors Service said in a report Monday it will maintain its Aa2 rating on Los Angeles Department of Water and Power water system revenue bonds.

California Gov. Jerry Brown signed a bill Wednesday that authorizes $4.7 billion, partly from the sale of bonds, to start construction of a high-speed intercity passenger rail network.