Far West

WASHINGTON — The Cinco Municipal Utility District No. 1 near Houston announced that the Internal Revenue Service has closed an audit of $5.2 million of revenue bonds it issued with no change to their tax-exempt status.

WASHINGTON — Federal lawmakers return to work next week, but market participants warn it is unlikely they will take action on proposals to ­extend expiring tax programs like Build America Bonds or extend income tax cuts for the middle class before the November ­elections.

MENLO PARK, Calif. — Sacramento’s sanitation district may be forced by California to spend more than $2 billion to raise its wastewater purification standards to comply with more stringent environmental rules.

WASHINGTON — With the 2010 elections close at hand, Democrats are at risk of losing their No. 2 lawmaker on the House Financial Services Committee.

WASHINGTON — The Securities and Exchange Commission will kick off its much-awaited series of hearings on the municipal market this month, holding the first on Tuesday, Sept. 21, in San Francisco.

WASHINGTON — The president is expected Wednesday in Cleveland to announce details of a $50 billion measure that would lead into a long-term program containing a national infrastructure bank — a proposal already offered by the administration but now being rolled out as part of an economic package.

ALAMEDA, Calif. — California can probably keep money flowing to bond-financed capital projects through the end of the year, even if the state’s continuing budget crisis keeps it off the bond market, a state spokesman said Tuesday.

MENLO PARK, Calif. — Alaska’s state airport authority will sell $174 million of tax-exempt paper next week to pay for debt refunding and runway repairs, according to a state official.

WASHINGTON — Transportation stakeholders expecting a comprehensive bill anytime soon could be disappointed as major legislation reauthorizing federal highway and transit programs could be delayed until 2013, sources said last week.

ALAMEDA, Calif. — California’s statewide property tax roll declined 1.8% this year, according to a report released last week by a state agency.