Washington

The 60 Plus Association announced on Thursday that it is forming a coalition of small holders of Puerto Rico bonds that will push for the creation of a financial control board and oppose bankruptcy legislation for the territory.

The oil and gas industry is pressing Congress to permit exports of crude as prices remain at the lowest since the 2008 global financial crisis. The campaign comes as Houston and other energy dependent credits face growing pain from the falling prices, according to Fitch Ratings.

Phoenix voters have approved a $31.7 billion transportation plan funded by an increase in a dedicated sales tax.

Most cities' "bottom lines" are positive and have bounced back from the financial crisis, though many are still in negative territory and are vulnerable to becoming distressed if they aren't already, according to a new report from Merritt Research Services president and chief executive officer Richard Ciccarone.

A U.S. district court judge has scheduled a trial for late summer of next year in the Securities and Exchange Commission case against the city of Miami and Michael Boudreaux, the city's former budget director.

A local engineering firm and its founder made a $2 million donation that provides one quarter of the local matching funds needed to qualify for federal grants on a $119 million runway project.

When Congress returns to Washington in September, members will have to address a number of important fiscal issues in a short amount of time.

Colorado may have to cut highway funding so it can issue tax refunds triggered by the state's TABOR law.

Ongoing cuts to Build America Bond subsidies are "credit negative" for issuers, Moody's Investors Service said in its weekly credit outlook for U.S. public finance last week.

Senate's multiyear transportation funding bill loosens restrictions on tolling of existing lanes of interstate highways.

Far West issuers sold $48.3 billion of municipal bonds in the first half of 2015, a 70% increase from the first six months of 2014 that was driven by refundings.

A city's authority can have additional time to spend proceeds of its new clean renewable energy bonds after unanticipated events caused a "significant delay" in the proceeds being committed and spent, the Internal Revenue Service has ruled.

The municipal bond tax exemption saved state and local government borrowers about $715 billion in debt service expenses from 2000 to 2014, according to a white paper issued by the International City/County Management Association and the Government Finance Officers Association.

Susan Gaffney has been hired as executive director of the National Association of Municipal Advisors.

Smaller seaports may find it difficult to fund the facilities needed to compete with rivals that can accommodate larger cargo ships.

The Financial Industry Regulatory Authority has censored and fined UBS Financial Services $750,000 for falsely representing to its customers that the interest on their municipal bond payments was tax-exempt when it was taxable.

The $11.6 billion set aside for a new freight-related highway projects is seen as important part of Senate's proposed six-year transportation bill.

Baltimore officials want Maryland to share savings from a cancelled rail project to upgrade the city's bus system.

The Municipal Securities Rulemaking Board announced Monday it will increase its initial and annual fees while lowering its underwriting fee to better distribute costs among regulated entities based on level of involvement.

Oregon motorists seem eager to sign up for the state's new miles-traveled road fee system but Connecticut lawmakers are not interested.