Far West

California plans to sell $5.4 billion of revenue anticipation notes the week of Sept. 12 to pay off the bridge loan secured at the end of July to avoid market chaos, according to the state treasurer’s office. Wells Fargo Securities and Barclays Capital are joint senior managers.

LOS ANGELES - Los Angeles County Museum of Art officials say changes to Moody's Investors Service methodology have more to do with a recent downgrade than anything the museum did.

SAN FRANCISCO - Los Angeles has dropped Standard & Poor's from rating its $7 billion investment portfolio after the agency downgraded it along with the United States last week.

WASHINGTON - Lurking in the legislative weeds on Capitol Hill is another threat to states' and localities' ability to fund bond-financed and other transportation projects.

WASHINGTON - The Internal Revenue Service has closed an audit of the Highlands County Health Facilities Authority's 2005 refunding bonds with no change to their tax-exempt status.

SAN FRANCISCO — The California Department of Water Resources will sell $1 billion of power revenue bonds this week as part of a plan to refund debt sold in 2002 due to the state's energy crisis.

Moody's Investors Service is proposing changes to its methodology for rating public power companies, which are not happy about the potential effect on their bond ratings.

Though he is "cautious" about the need for more monetary action since "we do not yet have enough information to conclude the economy won't resume a healthier pace of growth," Federal Reserve Bank of Atlanta president Dennis Lockhart Monday said the Fed has the tools, if needed, to ease policy.

WASHINGTON — The Financial Industry Regulatory Authority fined eight firms a total of $120,000 and asked two to pay almost $6,000 in restitution to customers for violating muni pricing, gift, trade, fair-dealing, and supervisory rules.

The Los Angeles City Council approved a non-binding agreement last week with the developer of L.A. Live, a multi-use entertainment center, that will allow the developer to go ahead with its plans for a National Football League stadium.