Far West

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.

SAN FRANCISCO — Moody's Investors Service's recent downgrade to junk of California redevelopment bonds has triggered complaints from state officials, but little evident stir in the market.

The gap between many states' pension and health care benefit commitments and the money set aside to meet them is growing wider, representing a continuing and growing threat to their financial stability and creditworthiness, according to a new report from the Pew Center on the States.

Additional regulation of money-market mutual funds could increase short-term borrowing costs for state and local governments, leading municipalities to raise taxes or cut spending on infrastructure and other critical projects, according to a paper released Monday by a Georgetown University professor.

SAN FRANCISCO — California lawmakers passed a budget bill last week, but left a lot of details to fill in before the new fiscal year starts July 1.

The California Department of Transportation and the San Francisco County Transportation Authority closed Thursday on financing for the $1.1 billion Presidio Parkway Public-Private Partnership.

The Internal Revenue Service has closed an audit without changing the tax-exempt status of $219.22 million of bonds that were issued by the curators of the University of Missouri in 2006.