Far West

The Securities and Exchange Commission said late Thursday that it is a "statutory party in interest" in Jefferson County, Ala.'s bankruptcy case and wants to receive all notices and documents filed with the court.

Vernon, the Los Angeles-area city nearly disincorporated by the California Legislature in September, has received two divergent ratings on its $471 million of outstanding electric revenue bonds and a $73 million electric revenue bond issue planned for Wednesday.

Wachovia Bank NA, now Wells Fargo Bank NA, has agreed to pay $148 million to settle securities, tax and other federal and state law violations stemming from fraudulently engaging in secret arrangements with bidding agents to win business from municipalities and profits for itself from the reinvestment of muni proceeds.

Santa Clara, Calif., is considering using one of the largest public subsidies ever to help finance a $1.02 billion stadium for the National Football League's San Francisco 49ers.

A bill meant to rescue a Wenatchee public arena from its default on $42 million of notes passed the Washington House Monday. But the measure appeared to lack the votes to pass the Senate during the special session that lasts until Christmas vacation.

Standard & Poor’s lowered its rating on Henderson’s general obligation debt one notch to AA from AA-plus and assigned a negative outlook.

The San Diego City Council supported a resolution Tuesday to take the next step in forming a special taxing district to pay for a $575 million plan that would expand the city’s convention center.

The Los Angeles City Council’s Budget and Finance Committee tabled action until Jan. 23 on a responsible banking ordinance until it can work out additional details.

Three California taxpayer associations have filed a ballot initiative to cap state spending.

The San Jose City Council Tuesday moved a step closer to a pension reform ballot measure.