Far West

BRADENTON, Fla. - A $1.1 billion transportation project aimed at alleviating congestion around Atlanta has qualified to apply for a low-interest federal loan as part of the financing plan.

Transportation Secretary Ray LaHood is proposing to reduce the cost of the $3.8 billion metrorail extension to Dulles International Airport by having Loudoun and Fairfax counties in Virginia pay for parking garages and a station with federal assistance.

The Vermont Student Loan Assistance Corp., which has been in discussions with the Internal Revenue Service to settle a tax law dispute over $165 million of auction-rate securities it sold in 1998, disclosed that the IRS is expanding its audit to include more of the issuer’s ARS.

Broker-dealers who are primary distributors of 529 college savings plans would have to disclose information about their total assets, the assets of underlying portfolios, contributions, and withdrawals on a quarterly basis, under a proposal the Municipal Securities Rulemaking Board released Tuesday.

WASHINGTON - Private-activity bond issuance rose in 2010 for the first time in three years because of a big jump in bonds spurred by a two-year housing recovery program that was enacted during the financial crisis, according to an annual survey and market participants.

SAN FRANCISCO - California is working on a $5 billion bridge loan from banks to avoid the potential market chaos that could be caused by a possible U.S. government default due to political gridlock over the nation's debt limit.

WASHINGTON - The Financial Industry Regulatory Authority fined seven firms a total of $362,500 for violations of municipal securities rules.

WASHINGTON - Securities and Exchange Commission chairman Mary Schapiro is expected to preside over a one-day hearing on the municipal securities market near Birmingham, Ala., in two weeks, sources said.

WASHINGTON - George K. Baum & Co. and CDR Financial Products, Inc. were bidding agents for muni reinvestment transactions involving J.P. Morgan Securities where bid-rigging occurred, according to court and bond documents as well as transaction participants.

LOS ANGELES - Amid a recent downgrade and talk of financial woes, Los Angeles will roll out almost $500 million of general obligation bonds this month.