Far West

LOS ANGELES — The Los Angeles County Metropolitan Transportation Authority on Monday released the final environmental impact report for the nine-mile Westside Subway extension project estimated to cost between $5.6 billion and $6.2 billion.

The District of Columbia Water and Sewer Authority sold $440.6 million of tax-exempt bonds, raising $177.4 million for infrastructure improvements and saving $17.8 million by refunding bonds issued in 2003, the authority said Monday.

WASHINGTON — The Internal Revenue Service recently closed an audit of $228.1 million of Series 2007A green bonds issued by the Syracuse Industrial Development Authority in New York without changing the tax-exempt status of the bonds.

State tax revenue growth weakened in the fourth quarter of 2011 due to weak economic conditions as well as the expiration of temporary tax increases and the stimulus provisions of the American Recovery and Reinvestment Act of 2009, the Rockefeller Institute said in a report.

SAN FRANCISCO — California Gov. Jerry Brown's proposed budget would likely cause a "substantial" amount of fiscal uncertainty for the state's school districts, Fitch Ratings said in a report released Tuesday.

SAN FRANCISCO — California has scheduled a $1.3 billion new-money and refunding bond sale for next month.

The Financial Industry Regulatory Authority ordered four firms and one individual to pay a total of $187,296 in fines and restitution to investors for violations of municipal market rules.

SAN FRANCISCO — Seattle-Northwest Securities Corp., a municipal bond broker and dealer, said board member Karl Leaverton will replace Maud Daudon as its new president and chief executive.

Stockton, Calif.'s bond defaults have already started a legal tug-of-war with insurers.

WASHINGTON — The Joint Committee on Taxation has released revenue estimates for muni bond provisions in President Obama's fiscal 2013 budget showing a gain of $520 billion over 10 years for the proposed 28% cap on the value of tax-exempt interest and other tax preferences.