Far West

California general obligation bond yield spreads have narrowed significantly over the past two years despite only small improvements in the state's financial health.

California Gov. Jerry Brown and Democratic legislative leaders reached an agreement Thursday to finalize a budget to close the state's nearly $16 billion deficit.

A struggling public arena in Wenatchee, Wash., hired Piper Jaffray to underwrite its upcoming refinancing of $42 million of outstanding defaulted debt. The firm had handled the previous deal that ran into trouble.

The Portland City Council voted unanimously to create a Tourism Improvement District, which will raise the tax on all hotels in the city with 50 or more rooms.

California retirement system officials have further cut the benefits of two former top Bell employees now facing corruption charges.

Moody's Investors Service has downgraded the Washington Township Health Care District's long-term revenue bonds to Baa1 from A3, affecting $232 million of debt.

California will not see single-digit unemployment until 2013, according to a report by UCLA's Anderson Forecast.

Unions opposed to San Diego's recent overwhelming vote to reform its pension system won two legal victories this week.

Stockton, Calif. has proposed a plan to slash more than $10 million of debt payments to balance its budget while at the same time declaring bankruptcy, if negotiations with creditors fail by Monday's deadline.

The IRS is auditing $105 million of general obligation building bonds that North Las Vegas issued in 2006.