Far West

BRADENTON, Fla. - The Securities and Exchange Commission has opened what appears to be a sweeping investigation into the new, largely bond-financed stadium for Major League Baseball's Miami Marlins.

The Governmental Accounting Standards Board will propose that state and local governments report five-year projections of cash inflows, outflows, and future financial obligations as supplementary information, following the notes to their financial statements.

LOS ANGELES — Downey Regional Medical Center, a non-profit hospital located in greater Los Angeles, is close to reaching an agreement with Avanti Health Systems LLC that would enable it to exit Chapter 11 bankruptcy and make its bondholders whole.

WASHINGTON — An issuer group urged the Securities and Exchange Commission and the Municipal Securities Rulemaking Board to adopt suitability standards preventing the sale of inappropriate financial products to state and local governments.

LOS ANGELES — A proposal to create a bond bank in Washoe County, Nev., has critics worried that the county would needlessly put its double-A credit ratings at risk.

SAN FRANCISCO — Moody's Investors Service warned Monday that California's expected mid-year budget cuts could result in further school district downgrades.

PHILADELPHIA — The Securities and Exchange Commission is preparing procedures that it will use to conduct examinations of independent, non-dealer municipal advisors to see if they are complying with federal laws and rules pertaining to municipal securities, , an SEC official said Thursday.

SAN FRANCISCO — A Washington judge has dismissed a lawsuit that tried to void the state's $519 million bond deal for a floating bridge project.

North Las Vegas could face a budget shortfall of more than $15 million next year unless employee unions again agree to substantial concessions, according to published reports.

Staff of the California Health Facilities Financing Authority recommended approving a plan to issue $275 million of bonds on behalf of San Diego-based Scripps Health.