Far West

Hawaii's governor wants to use the premium gained off a recent bond sale to help replenish reserve funds, but the state's social agencies think the money should be used to fund their programs.

SAN FRANCISCO — Squire Sanders said it has hired public finance attorney Robyn Helmlinger as a partner in San Francisco.

SAN FRANCISCO — California Gov. Jerry Brown said Friday he signed a bill into law that will allow the state to shift $865 million around internally to buffer cash-flow needs.

WASHINGTON — The Internal Revenue Service is auditing $31.59 million of Series 2004A first mortgage revenue bonds that were issued by the St. Johns County Industrial Development Authority in August 2004 to help Presbyterian Retirement Communities Inc. and its affiliates finance improvements to eight retirement centers in Florida.

California, traditionally the largest issuer of municipal bonds in the country, is set to constrain its bond sales for another year, tightening supply to one of the hungriest markets of all time.

The Financial Industry Regulatory Authority highlighted "key risk areas" for muni broker-dealers, warning that its exams will focus on whether incomplete disclosures and financial information from an issuer prevent retail customers from making informed investment decisions.

A group of Democrats and an independent lawmaker in the Senate have introduced a bill that would codify the so-called Buffet Rule by imposing a minimum 30% tax rate on taxpayers whose adjusted gross income exceeds $1 million, including capital gains and dividends.

Washington saved 14% during a $978 million refunding bond sale on Tuesday — the largest refunding in the state’s history. The state treasurer’s office said it achieved more than $154 million in present-value savings from the debt refunding.

For the most part, economic indicators show that Nevada, one of the state’s hit hardest by the wave of home foreclosures in recent years, has been pulling itself out of the muck.

RED, the developer of the Outlets at Legends in Sparks, Nev., has defaulted on $141 million in private loans used to construct most of the 148-acre retail development, according to published reports.