Far West

WASHINGTON — The Securities and Exchange Commission voted unanimously Wednesday to approve a proposed rule that would exempt municipal securities from credit-risk retention requirements imposed in the wake of the financial crisis.

ALAMEDA, Calif. — Less than six years after Oregon Coast Aquarium bondholders agreed to a substantial haircut to keep the nonprofit out of bankruptcy court, the facility is again struggling with its debt service requirements.

The Internal Revenue Service is auditing $100 million of general obligation bonds that the Reading School District in Berks County, Pa., issued in 2005 to finance school construction and improvements.

SAN FRANCISCO — Los Angeles Mayor Antonio Villaraigosa has reached a tentative deal with a coalition of unions that could help curb the city’s ballooning pension and retiree health care benefit costs.

VICTORVILLE, Calif. — Despite a tempest of bad news about its finances, Victorville city leaders say bondholders are safe.

ALAMEDA, Calif. — Washington Treasurer James McIntire has thrown his support behind a proposal to reduce the state’s constitutional debt limit and revise the formula used to calculate it.

ALAMEDA, Calif. — California’s seemingly intractable budget and cash-flow problems have hit school districts hard, forcing many to enter into increasingly complex arrangements to keep cash flowing, experts said.

WASHINGTON — Members of Congress need to suspend their political squeamishness on tax increases and allow the Bush-era tax cuts to expire in 2012 if they are serious about federal deficit reform, a research group reported Thursday.

WASHINGTON — The Internal Revenue Service is auditing $38.77 million of defaulted special assessment bonds that were sold in 2005 by the Aberdeen Community Development District in Florida to finance infrastructure for a residential community.

ALAMEDA, Calif. — Nevada received its second downgrade of the month Thursday when Moody’s Investors Service dropped its general obligation bonds to Aa2 from Aa1.