Far West

WASHINGTON ­— The central issue for Municipal Securities Rulemaking Board members gathered for a special meeting Thursday and Friday at their Alexandria, Va., headquarters is how the self-regulator will oversee municipal advisers.

VALLEJO — The Vallejo City Council unanimously approved a financial blueprint Tuesday night to exit California’s largest municipal bankruptcy in more than a decade.

WASHINGTON — Municipal market participants warned Wednesday that they would fight any attempts by Congress or the administration to do away with tax-exempt interest for all new municipal bonds.

WASHINGTON — State tax revenues continued rebounding, rising 3.9% from July through September in the third straight quarter of growth, the Rockefeller Institute of Government reported Tuesday.

Bond attorney and longtime market participant Linda Grant Williams has secured a patent on an alternative credit structure that is designed to lower interest rates on special facility bonds for ­airports.

Changes to the Securities and Exchange Commission’s Rule 15c2-12 designed to both increase the quantity and timeliness of issuers’ continuing disclosures take effect Wednesday and strongly encourage issuers of variable-rate demand obligations to use so-called long-form disclosure in their offering documents.

SAN FRANCISCO — City Council members in Vallejo, Calif., will judge a long-term budget plan Tuesday that outlines a way for the bankrupt city to crawl back into the black.

The Internal Revenue Service is auditing $40.5 million of single-family housing bonds issued in 2003 by the Montana Board of Housing.

WASHINGTON — The Municipal Securities Rulemaking Board’s expenses over the next two years will increase “at ­significantly higher rates” as the MSRB continues to expand its information systems and begins to regulate municipal advisers, the board is cautioning.

ALAMEDA, Calif. — Hawaii and Citi have announced a legal settlement that will allow the state to exit from its $869 million auction-rate securities portfolio within five years.