Far West

CARLSBAD, Calif. - The air of uncertainty surrounding California's redevelopment agencies and their bonds is not likely to be resolved until early next year, according to panelists who spoke Thursday at The Bond Buyer's California Public Finance Conference.

The Securities and Exchange Commission chairman told House committee members that the agency proposed an overly broad definition of municipal advisor, while the top Democrat on the panel said the Dodd-Frank Act went too far by authorizing the creation of a new SEC muni securities office.

CARLSBAD, Calif. - With low volume and demand lacking in the face paltry yields, the municipal market must tackle structural problems, according to industry insiders at The Bond Buyer's California Public Finance Conference.

WASHINGTON - House Speaker John Boehner, R-Ohio, on Thursday said the Joint Committee on Deficit Reduction "is a jobs committee" that should also lay the groundwork for broad tax reform.

LOS ANGELES - A confirmation hearing on the Las Vegas Monorail's plans to exit bankruptcy that had been slated this week was postponed after bondholders, the insurer, and the issuer all balked.

The California Department of Water Resources plans to issue an undetermined amount of revenue bonds for its Central Valley Project Water System on Oct. 6, according to the state treasurer’s office.

California priced $5.4 billion of revenue anticipation notes a day ahead of schedule Wednesday, after getting retail orders for more than 65% of the deal, according to the state treasurer’s office.

California Controller John Chiang said August revenues came in 2.1% or $134.9 million above projections in the recently passed budget.

Federal investigators are auditing a billion dollar expansion project at the Port of Anchorage amid huge cost overruns, published reports say.

WASHINGTON - Transportation industry and government groups have not found a lot to like in President Obama's American Jobs Act, and they are particularly unhappy about the proposed infrastructure bank.