Far West

House Minority Leader Nancy Pelosi’s proposal to extend the Bush-era tax cuts for households with incomes earning up to $1 million annually would have a marginal impact on municipal bond demand, market experts said.

SAN FRANCISCO — Standard & Poor’s said it has dropped the underlying rating on two Stockton water revenue bonds by three notches to BB-plus amid a looming default as the California city considers bankruptcy.

The MSRB has issued a concept release seeking public feedback about whether to require underwriters and municipal advisors to disclose third-party payments on the online EMMA system.

As California lawmakers dither over legislation to clean up the messy and sudden dissolution of the state's redevelopment agencies, cities are turning to the courts for clarity.

WASHINGTON — Indiana Gov. Mitch Daniels made the rounds in the nation’s capitol Thursday, urging lawmakers to pass a transportation bill friendly to public-private partnerships and telling reporters that he fears there might not be a bill at all.

Action by the Idaho Legislature during the 2012 session made 48 auditing and tax collector positions permanent and made state tax laws more stringent, a local newspaper reported.

Los Angeles County plans to market $1.1 billion of tax and revenue anticipation notes on July 2.

Moody’s Investors Service last week downgraded Azusa, Calif.’s long-term issuer rating to A2 from Aa3, affecting $3.25 million of rated debt, and assigned a negative outlook.

California’s Golden State Tobacco Securitization Corp., the entity that issues bonds secured by the state government’s settlement with cigarette companies, will again have to dip into reserves come December to make interest payments.

The Golden State Warriors basketball franchise has announced plans to relocate to San Francisco in 2017, a move that will leave their current landlords in Oakland still facing bond payments on the team’s current home.