Far West

WASHINGTON — Despite the financial struggles and criticism faced by prominent fast-rail projects in California and Florida, high-speed and regional rail is likely to proceed out of necessity, according to an analysis by Fitch Ratings.

SAN FRANCISCO — An Oregon panel that advises policymakers on debt said in a report Wednesday that the state's borrowing options will remain "highly constrained" in the near future.

State and local governments should not allow underwriters to pass through any fees they pay to finance the Governmental Accounting Standards Board, the Government Finance Officers Association warned members Thursday.

Selling $74.3 million of electric system revenue bonds for Vernon, the scandal-ridden California city that narrowly avoided being disincorporated last year, would seem to be an uphill battle.

The Los Angeles City Council has decided to walk away from the city's redevelopment agency, saying it would be too costly to take control of.

The California Senate Transportation and Housing Committee on Tuesday unanimously approved SB 447, which would prohibit the California Housing Finance Agency from foreclosing on borrowers who are renting their homes out and are current on their mortgages

The San Diego Chargers announced in a joint statement with San Diego’s mayor on Monday that they would be staying in the city for another season.

California Controller John Chiang said December revenues came in $165 million below the projections in the governor’s proposed fiscal 2013 budget.

Republican lawmakers in California have introduced a bill that would block the state from selling bonds for a planned high-speed rail system.

California’s nonpartisan Legislative Analyst’s Office said in a report Wednesday that revenue estimates are a bigger “question mark” than usual in Gov. Jerry Brown’s proposed fiscal 2013 budget.