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Regional News - Far West
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 Revenue Bonds Four Times Oversubscribed
Hawaii took advantage of a market starved for bonds to increase the size of its highway revenue deal and lower its borrowing costs.  more »
Hawaii
LA Metro Board To Study Building Orange Line Rail
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 »
California
Mayor Ed Lee Sends $500M Bond to November Ballot
San Francisco Mayor Ed Lee approved a $500 million general obligation bond measure that will go before voters on Nov. 4.  more »
California
Oregon Treasurer Touts $80M in Refunding Savings
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 »
Oregon
Moody's Downgrades Fort Irwin Land Military Housing Rev Bonds
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
Cal State Preps $744M for Campus Projects, Refunding
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 »
California
Fitch: Drought Could Increase Environmental Compliance Costs
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 »
California
California Issuer May Pay About $1.73 Million in VCAP Settlement
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 »
California
Court Upholds California High-Speed Rail Route
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 »
California
MAC Acquires California License
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 »
California
Survey: Majority of Californians Would Approve Water Bond
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 »
California
California GO Spreads Continue Shrinking
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 »
California
Jerry Brown Signs Law Requiring Bank Loan Disclosure
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 »
California
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Commentary: How to Apply Leveraged-Loan Guidance to Public Entities
By: Justin Cooper
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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