Far West

Contra Costa County’s pension system is suing the county over wage and benefits cuts for the system’s managers.

California completed a restructuring of its commercial paper program that resulted in a downgrade to one subseries of notes.

Thirty-four congressmen urged Securities and Exchange Commission chairman Mary Schapiro to exempt broker-dealers and other regulated entities from its proposed municipal advisor definition, warning in a letter Monday that the failure to do so would impose unnecessary regulation and harm issuers by reducing competition.

The California Society of Municipal Analysts awarded Jennifer Johnston, a vice president and research analyst with Franklin Templeton, with its inaugural Amy S. Doppelt Award for Meritorious Service.

Washington Gov. Chris Gregoire planned to sign a bill Tuesday that would resolve about one-quarter of the state's $2 billion budget deficit.

The Washoe County, Nev., Commission has approved an ordinance to create a bond bank despite concerns from opponents about potential risks to the county's AA bond rating.

The Securities and Exchange Commission has approved Municipal Securities Rulemaking Board changes to Rule G-16 that would require muni broker-dealers that pose more risks to undergo compliance examinations more frequently, possibly as often as every year.

The future of Medicaid, which eats up nearly a quarter of states' budgets, will play a key role in governments' fiscal health over the next several years, Standard & Poor's said in a new report on the federal program.

Public finance law firm Hawkins Delafield & Wood LLP has opened a new office in Portland, Ore., after K&L Gates' public finance group in the city jumped over to the firm.

Having already assigned a negative outlook to Garvees, Fitch Ratings said downgrades could occur for such bonds without a backup pledge of revenues if lawmakers don't approve a longer-term reauthorization of highway and other surface transportation programs by March 31.