Washington

Spokane, Wash.'s airport has been downgraded to A2 from A2 by Moody's Investors Service.

A new guide from AASHTO examines current revenue sources and potential options for bolstering the Highway Trust Fund, including fees based on vehicle miles traveled.

Most states are likely to have more new capacity to issue private-activity bonds in 2015 than they did this year, after the Internal Revenue Service raised the minimum state volume and maintained this year's per capita rate.

The Bond Dealers of America is suggesting a change to the way dealers would get affirmations from sophisticated municipal market professionals under the Municipal Securities Rulemaking Board's proposed amendments to its rule governing interactions with those market participants to whom dealers owe fewer duties.

Claims against UBS from Puerto Rican investors have surged to $900 million, the group said Tuesday in its third-quarter earnings report.

The internal Revenue Service is conducting a targeted audit of Philadelphia's series 2010A water and wastewater revenue refunding bonds, $396.46 million of which were issued.

An overwhelming majority of Texans seem ready to approve a ballot measure moving $1.7 billion/ year into the state road fund.

Dealers want the Municipal Securities Rulemaking Board to reduce the cost of compliance and to move quickly to finish the municipal advisor rules, while issuers are unsure they want the MSRB's protection.

At least two issuers recently redeemed or said they are planning to redeem bonds issued to finance detention facilities because of private use. One redemption was required under a settlement between the issuer and the Internal Revenue Service and the other was triggered by provisions in the offering document.

Municipal Securities Rulemaking Board chair Kym Arnone wants the board to finish the municipal advisor rules and take more steps to improve transparency before the end what she says is the hardest job she has ever loved in a nearly 30-year muni career.

The Government of the U.S. Virgin Islands and the Virgin Islands Public Finance Authority filed a lawsuit this week against their former bond counsel and financial advisor, alleging they were negligent when they advised that $219.49 million of bonds issued in 2006 would be tax exempt.

Maryland voters will decide whether to constitutionally prohibit lawmakers from diverting transportation-dedicated tax revenues to other purposes.

The Municipal Securities Rulemaking Board is proposing to establish limits on the gifts and non-cash benefits municipal advisors can provide in their professional capacities.

Seattle's City Light Department sold $265 million of revenue bonds in a competitive offering Wednesday for the city's light and power system.

A new train station in downtown Dallas may be the northern terminal of a 240-mile privately financed high-speed rail line to Houston.

Corporate tax reform is likely to be a priority for Congress and the Obama administration no matter which party has control of the Senate after the midterm elections, said tax experts and congressional observers who, nevertheless, differ on how this might impact municipal bonds.

The Municipal Securities Rulemaking Board announced on Wednesday that it will be offering a free six-week video series to educate municipal securities investors about fundamental disclosure documents.

John Cross will leave as director of the SEC's Office of Municipal Securities next month to succeed Vicky Tsilas as the Treasury Department's associate tax legislative counsel, according to the SEC and sources. Tsilas is rejoining Ballard Spahr in January.

Market participants are concerned that language in the Securities and Exchange Commission's proposal to remove references to credit ratings from its Rule 2a-7 governing money market funds could be too restrictive on what securities MMFs could purchase.

Work will get under way next year on D.C.'s $54 billion, 25-year transportation plan, including a new bridge over the Anacostia River.