Far West

Kristin Franceschi practices corporate, securities and public finance law at DLA Piper. She represents clients and helps colleagues on structured financings, conduit deals, tax increment financings, defeasance transactions, arbitrage issues, and general municipal law.

SAN FRANCISCO - California Gov. Jerry Brown has signed legislation imposing new requirements local governments must meet before declaring bankruptcy.

DENVER - A dealer group said the issuer community must mobilize to defend the federal tax exemption for municipal securities, which has been called into question by recent Obama administration proposals.

SAN FRANCISCO - California has received a favorable private-letter ruling from the Internal Revenue Service that will allow it to remarket Build America Bonds this month while keeping the federal subsidy.

Senate Majority Leader Harry Reid, D-Nev., plans to seek a cloture vote Tuesday that would limit debate on a modified version of the jobs bill that was recently proposed by President Obama.

LOS ANGELES - Fitch Ratings could cut bond ratings on the National Basketball Association, Los Angeles' Staples Center, and Denver's Pepsi Center if the NBA fails to reach an agreement with players and cancels the season.

DENVER - Almost one year after Meredith Whitney forecast widespread defaults by state and local governments, a new threat looms over the municipal securities market: the Governmental Accounting Standards Board, a market expert said here Thursday.

WASHINGTON - Fitch Ratings sees no widespread threat to state ratings from efforts to cut the federal deficit or from a slowing economy. Both, however, "present much uncertainty and risk," according to a report released on Thursday.

WASHINGTON - President Obama offered potentially good and bad news for the municipal market on Thursday.

SAN FRANCISCO - Washington State will sell $1.29 billion of general obligation bonds next week, its largest deal ever, partly to finance a new floating bridge.