Far West

LOS ANGELES — The Los Angeles City Council passed a $7.2 billion budget Monday that largely preserved austerity measures proposed in the mayor’s budget.

SAN FRANCISCO — Stockton, Calif., officials said Monday creditors have agreed to extend talks on how to keep the city out of Chapter 9 bankruptcy.

Natwar Gandhi has a unique job in a city unlike any other, but the District of Columbia's CFO strives to use the advantages of his one-of-a-kind office to offset the many challenges he readily admitted his city faces.

A tax-exempt advisory group to the Internal Revenue Service plans to release a report on June 6 about recent changes the agency has made to forms that bond issuers and nonprofits must file with it.

The Internal Revenue Service has notified the Metropolitan Water Reclamation District of Greater Chicago that it has closed an audit without changing the tax-exempt status on $346.6 million of general obligation refunding bonds and $50.79 million of GO refunding bonds limited-tax series issued in May 2006.

The MSRB plans to issue a concept release seeking public input on whether it should require underwriters and municipal advisors to disclose over EMMA any third-party payments they make or receive in connection with municipal or municipal-related transactions, an MSRB official said.

SAN FRANCISCO — The San Francisco Public Utility Commission will hit the market with $686 million of revenue bonds as it continues to raise billions for a seismic upgrade of its water system.

LOS ANGELES — Common Bond Capital Partners LLC, a five-month-old San Diego-based firm targeting distressed municipal bonds, has hired a public finance expert who specializes in structured financing to round out its team.

SAN FRANCISCO — California's nonpartisan Legislative Analyst's Office released a report Friday on Gov. Jerry Brown's May Revise budget, calling the governor's economic and revenue forecast reasonable but questioning how much the state will reap from the end of redevelopment.

WASHINGTON — The Governmental Accounting Standards Board released a guide last week designed to help taxpayers and others glean useful information from school districts' financial statements.