UCLA Flooding Raises Questions about LADWP Pipe Replacement Schedule
A water main break that flooded the University of California-Los Angeles campus in Westwood raises the specter of the need for the Los Angeles Department of Water & Power to ratchet up its capital improvement program.
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Hawaii took advantage of a market starved for bonds to increase the size of its highway revenue deal and lower its borrowing costs.  more »
The Los Angeles County Metropolitan Transportation Authority’s board voted last week to study the feasibility of creating a light rail system on the Orange Line to connect the San Fernando and San Gabriel Valleys.  more »
San Francisco Mayor Ed Lee approved a $500 million general obligation bond measure that will go before voters on Nov. 4.  more »
The state of Oregon has been taking advantage of market conditions by refunding its outstanding debt at lower interest rates to save around $80 million since 2013, according to Treasurer Ted Wheeler.  more »
Moody's Investors Service downgraded three tranches of Fort Irwin Land LLC, Calif. military housing revenue bonds citing concern over volatility and debt service coverage.  more »
California State University is planning to sell $744 million of revenue bonds this week to refund outstanding debt and provide funding for various campus projects across the state.  more »
Costs of complying with environmental regulations could increase for California's hydroelectric-reliant public utilities as the state's severe drought pushes them toward more generation sources with higher greenhouse gas emissions, according to Fitch Ratings.  more »
An independent accountant hired by the Long Beach Community College District in California has estimated that the district may have to pay about $1.73 million to settle with the Internal Revenue Service under the agency's voluntary closing agreement program, an issuer official said.  more »
A court of appeals upheld a proposed route connecting the San Francisco Bay Area to the Central Valley for California's $68 billion high speed rail project.  more »
Municipal Assurance Corp., Assured Guaranty's municipal-only business, has been licensed by the California Department of Insurance to write financial guaranty insurance in the state alongside its affiliates Assured Guaranty Municipal Corp. and Assured Guaranty Corp.  more »
A majority of Californians would vote “yes” to an $11 billion water bond on the November ballot, according to a survey from the Public Policy Institute of California.  more »
Credit spreads on California's general obligation have been narrowing, both before and after the state's upgrade to Aa3 by Moody's Investors Service.  more »
Gov. Jerry Brown signed a bill into law on Wednesday that will expand an existing law to require California debt issuers to disclose any direct loans from banks to the California Debt and Investment Advisory Commission.  more »

As banks make more loans to lower-rated municipalities, they may have to follow Interagency Guidance on Leveraged Lending that was developed with private and corporate borrowers in mind.

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