Far West

Montebello will move ahead on a note issue despite claims earlier this month that an ill-timed release of a report from the California controller’s office jeopardized its efforts to sell short-term notes.

The Anchorage Assembly voted Tuesday to limit to 1% a property tax hike to support its school district in the next budget.

WASHINGTON - Local government officials gathered here Wednesday and Thursday to seek support from administration officials, lawmakers, and their staff for tax-exempt financing.

SAN FRANCISCO - California Gov. Jerry Brown will unveil his pension reform plan Thursday, sparking a renewed debate on the state's employee retirement liabilities.

WASHINGTON - In some of its 32 Build America Bond audits, the Internal Revenue Service has raised concerns about whether premiums paid for bond insurance could disqualify the bonds as BABs and jeopardize the federal subsidy payments made to the issuers, according to bond lawyers and IRS officials.

SAN FRANCISCO - Some California redevelopment agency bonds with poor backstops will face credit stress if legislation to disband the agencies or force large payouts is upheld in court, according to Standard & Poor's.

Underwriters often push municipal issuers not to hire financial advisors and, if an issuer insists on working with one, prod them to retain broker-dealer FAs, an independent FA firm warned a Securities and Exchange Commission member earlier this month.

SAN FRANCISCO - Stockton, Calif., is facing the rising specter of a technical default on its redevelopment agency debt, as it will likely have to dip into reserves to pay debt service for $87 million of outstanding bonds.

The Los Angeles City Council is finding that compiling a list of banks to boycott isn't as simple as it sounds.

WASHINGTON - The Municipal Securities Rulemaking Board has entered into a ground-breaking agreement with the Internal Revenue Service under which it will provide the IRS with municipal market data and documents to help enforce tax law requirements for muni securities.