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California Bond Task Force Staffs Up
California Treasurer John Chiang on Thursday appointed 12 individuals to a task force he commissioned to develop best practice guidelines on the fiduciary care and use of state and local bond proceeds.
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The San Bernardino, Calif. bankruptcy differs from other municipal bankruptcies because the city's leaders are unable to strike deals with creditors, Ambac Assurance Corp.’s attorney said  more »
San Diego is moving ahead with plans to price $120 million in bonds in April in the face of an appeal of a court ruling that the city can legally issue the bonds.  more »
Franklin Templeton Investments filed its first brief on March 25 appealing the ruling that allowed Stockton to exit bankruptcy.  more »
Standard & Poor’s joined Fitch Ratings in upgrading the rating on the California Department of Water Resources power revenue bonds.  more »
Fitch Ratings upgraded bonds issued by the California Department of Water Resources after a state of emergency was declared in 2001 to deal with soaring energy prices.  more »
Tobacco bonds may be on their way to the biggest volume since 2007, led by Wednesday's $1.7 billion sale from California, as issuers refinance amid a decline in smoking that's cut deeply into revenue.  more »
Brian White, chief executive of the $10.4 billion San Diego County Employees Retirement Association, has resigned effective March 30.  more »
Municipalities in fiscal crisis faced diminished abilities to manage federal grants because of workforce reductions, decreased financial capacities and outdated information technologies, the U.S. Government Accountability Office concluded in a report.  more »
Fitch Ratings upgraded San Francisco Community College District, Calif.’s general obligation bonds to A from BBB-plus.  more »
A state authority in Wyoming is considering financing port projects in Oregon or Washington to strengthen Wyoming’s coal industry.  more »
A coalition comprised of businesses, labor union, community groups and non-profits took a significant step forward on plans to build a desalinization plant in Huntington Beach, Calif.,  more »
California lawmakers proposed legislation to accelerate more than $1 billion in bond spending for drought relief as the state enters its fourth year of drought.  more »
Bel Air Investment Advisors LLC opens, a Los Angeles-area firm that manages $7 billion in assets including many munis, opened a San Francisco office as part of a larger expansion plan.  more »

Some local governments may require extraordinary financial assistance from the Commonwealth, adding to pressure on its general obligations.

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