Far West

A key Republican lawmaker criticized the floating net-asset value for money market funds Friday, citing the toll such a shift would have on state and local governments.

Hawaii Gov. Neil Abercrombie signed a $21.9 billion, two-year budget into law Thursday that addresses rising debt-service costs and a bond-financing mistake.

WASHINGTON — State and local governments will face higher debt-issuance costs if regulators require money market funds to move to floating net-asset values, issuer groups warned Thursday.

WASHINGTON - The Center for American Progress says any debt-limit agreement should contain expenditure cuts, including eliminating tax-exemption for private-activity bonds and making other new munis direct-pay bonds with a 25% subsidy rate.

WASHINGTON - Amid a lackluster housing market, additional downgrades of military base projects and budgetary uncertainty, adjustment was the theme Thursday at The Bond Buyer's sixth annual military housing privatization conference.

WASHINGTON - The Securities and Exchange Commission would create a five-person office of municipal securities and a 35-member office of credit ratings, both of which would report directly to the chairman as mandated by Dodd-Frank, according to letters the SEC sent lawmakers.

SAN FRANCISCO - California lawmakers have placed the state's local redevelopment agencies on death's doorstep, but there may be a bigger problem looming.

WASHINGTON - Taxpayers will have to contribute an average of $1,398 per household per year over the next 30 years, either through tax hikes or reduced public services, to fulfill public-sector pension obligations, according to a study released Tuesday.

Seattle will slash $10 million from its general fund budget to close budget gaps through the end of the year.

The Las Vegas Monorail has been given court permission to send its bankruptcy-exit plan to creditors for a vote.