Far West

The San Francisco Municipal Transportation Agency is already trying to tackle a $23 million annual budget deficit, according to local press reports.

After much watering down, a California bill to make it harder for local governments to seek bankruptcy protection cleared committee on Wednesday.

California Gov. Jerry Brown signed a bill Wednesday that will allow the state to sell bonds in $25 denominations.

WASHINGTON - Fitch Ratings says the United States is downshifting just as President Obama is expected to include transportation spending as a major part of the job creation program he will present to Congress Thursday night.

The Internal Revenue Service has completed an audit of $60 million of hospital revenue bonds issued in 2002 by Lakeland, Fla., finding no change to the bonds’ tax-exempt status.

SAN FRANCISCO - Montebello, Calif., has won a legal victory that will allow it to sell notes to buffer its troubled finances.

WASHINGTON - Local school districts face renewed budget pressure as states cut back spending, forcing local governments to weigh tax increases and layoffs, the Center on Budget Policy Priorities said in a recent report.

LOS ANGELES - California Assembly Speaker John Perez and Sen. Alex Padilla, both Los Angeles Democrats, introduced legislation on Friday that would help fast-track a $3.1 billion pro football stadium project in downtown Los ­Angeles.

WASHINGTON - A working group of independent financial advisors is close to finalizing a preliminary outline of topics for the first-ever municipal advisor exam, which will be administered by the Municipal Securities Rulemaking Board, sources said.

LOS ANGELES - Downey Regional Medical Center, a not-for-profit hospital located in greater Los Angeles, will emerge from bankruptcy in mid-November, allowing it to close on a planned bond refunding if a bankruptcy judge approves its exit plan.