Far West

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.

California's June revenues came in 5.6%, or $622 million, above the forecast in the enacted budget, according to the Department of Finance.

Fitch Ratings said in a report Tuesday it kept $65 million Anchorage, Alaska sewer revenue bonds at AA.

Federal regulators do not support wholesale removal of the Tower Amendment or exemptions from federal securities laws for municipal securities, the General Accountability Office said in a report issued Thursday.

Budget balances for states remain too low relative to annual expenditures, according to the National Governors Association and National Association of Budget Officers.

Compton, Calif. is facing serious cash flow problems that could force the city to declare bankruptcy, the city's elected treasurer said Tuesday.

A new California law meant to "clean-up" problems from the shutdown of the state's redevelopment agencies may be making things worse for some local governments.

A group of Senate Democrats is urging the U.S. Department of Justice and federal banking and securities regulators to investigate allegations that domestic and foreign banks manipulated the London Interbank Offered Rate, or Libor, which is used as a benchmark in municipal bond-related swaps and other financial products.