Far West

New municipal issuance should rebound next year, given low interest rates, pent-up demand for projects, and improved finances among states and localities, market observers with the Bond Dealers of America said Tuesday.

SAN FRANCISCO - Washington anti-tax and initiative crusader Tim Eyman has filed a lawsuit to try to void the state's $519 million bond deal for a floating bridge project.

Moody's Investors Service has extended the review period for a possible downgrade of $871 million of outstanding bonds sold by the Idaho Housing and Finance Association while the issuer works on a plan to shore up its balance sheet.

SAN FRANCISCO - Washington's treasurer will ask the Legislature to cough up $42 million to try to protect the state from the repercussions of a local municipal default.

LOS ANGELES - The California Housing Finance Agency has agreed to temporarily stop foreclosing on homeowners who are renting their homes out and are current on their mortgages.

While the loss of Internet retail sales taxes is not currently significant enough to hurt state and local government credit ratings, it could become a problem in the future, Standard & Poor's said in a report issued Monday.

WASHINGTON - The Municipal Securities Rulemaking Board has asked the Securities and Exchange Commission for guidance on when a bank loan qualifies as a municipal security, officials said Monday.

The Internal Revenue Service closed its audit of $28.72 million of special assessment bonds issued by the Bartram Park Community Development District in Jacksonville, Fla., in 2005 without any changes to the tax-exempt status of the bonds.

The Internal Revenue Service is looking for two representatives of the tax-exempt bond community to serve on its 21-member Advisory Committee for the Tax-Exempt and Government Entities Division, called ACT.

WASHINGTON - The House voted by an overwhelming 405-to-16 margin on Thursday to repeal a tax law provision that would require federal, state and local governments to withhold and remit 3% of certain payments made to private contractors beginning in 2013.