Far West

WASHINGTON — The National Federation of Municipal Analysts is considering developing a pension-disclosure white paper that could be completed by early 2012.

Senate Commerce Committee chairman Jay Rockefeller D-W.Va., introduced a bill Wednesday that would create a national infrastructure bank and fund it with $10 billion over two fiscal years.

SAN FRANCISCO — Vallejo, Calif., will likely exit Chapter 9 bankruptcy by the end of July as it nears deals with two of its unions, according to attorneys.

WASHINGTON — The Internal Revenue Service’s tax-exempt bond office has received referrals of around 30 whistleblower claims of potential abuses in the municipal bond market, an official said Friday.

The National Federation of Municipal Analysts recognized four members, including one who was honored posthumously, with awards for meritorious service and career achievement.

SAN FRANCISCO — California Gov. Jerry Brown will release a revised budget next week that will outline plans to close a $15 billion hole after he hit firm resistance to his original budget-balancing plan.

WASHINGTON — A federal court in New Jersey has approved UBS Financial Services Inc.’s $47.2 million settlement with the Securities and Exchange Commission over bid-rigging of municipal bond-related contracts as well as the amounts of restitution that are to go to each of 105 state and local issuers that were defrauded.

SAN FRANCISCO — A bill that would force California municipal governments to undergo mediation before allowing them to file for bankruptcy is moving through the Legislature.

CHICAGO — Last year’s dire predictions that a coming record wave of expiring bank credit facilities would tax the municipal market did not come to fruition in the first quarter, according to a new report from Moody’s Investors Service.

CHARLESTON — A pension expert panned federal lawmakers’ efforts to increase oversight of state and local governments’ public pension plans.