Far West

WASHINGTON — Despite an uptick in municipal bond trading during the first quarter of 2012, trading remains below levels seen in the same periods during 2010 and 2011, according to a quarterly statistics report released on Thursday by the Municipal Securities Rulemaking Board.

Hawaii legislators went into overdrive this week as the close of the session approached this Friday, but they did so without seeming to make great strides toward agreeing on the state’s $11 billion supplemental budget, according to Hawaii Civil Beat.

Fitch Ratings downgraded California’s Santa Clarita Community College District to AA from AA-plus and revised the outlook to negative from stable.

A bill by California Assemblyman Mike Feuer to extend the Measure R transportation sales tax in Los Angeles County by at least 10 years had a second reading on the floor, but was sent back to committee last week.

The San Francisco Municipal Transportation Agency will use the possibility of $61 million of revenue bonds to help quell funding concerns about its Central Subway project.

Alaska’s Legislature ended a special session early without any action on a gas pipeline bill or on a proposal by Gov. Sean Parnell to lower oil taxes.

WASHINGTON — The National Association of Bond Lawyers is urging the Internal Revenue Service and the Treasury Department to update their rules and guidance on management contracts, which are key to making sure many governmental and 501(c)(3) bonds remain tax-exempt and are not private-activity bonds.

If a judge approves a fifth amended reorganization plan, the Las Vegas Monorail Co. could exit bankruptcy soon.

California lawmakers are considering a new bill that would change the state's four-month old municipal bankruptcy law, reigniting a battle between public employee unions and local governments.

SAN FRANCISCO — The board of the California Health Facilities Financing Authority has voted to reduce its issuance fees as it battles to remain competitive with other conduit issuers.