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Regional News - Far West
Portland Metro Asks Court to Validate Hotel Bonds
Faced with legal challenges to its plans for a publicly-backed hotel near the Oregon Convention Center, the Portland Metro Council has asked a judge to review its financing plan for the project.
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Congressman Cardenas Ups Ante With Sriracha Plant Visit
Deciding a letter was not enough, U.S. Rep. Tony Cardenas followed up with a visit Tuesday to the factory of the popular Sriracha hot sauce under fire from residents and the Irwindale City Council.  more »
California
Remke Appointed Chair of California FPPC
California Gov. Jerry Brown Jr. appointed Jodi Remke as chairperson of the California Fair Political Practices Commission on April 23.  more »
California
Hawaii One Step Closer to Issuing $40M in GOs to Preserve Turtle Bay
Hawaii officials reached an agreement last week on a conversation easement for 665.8 acres of land at Turtle Bay Resort in Kahuku that will be funded primarily with $40 million in general obligation bonds.  more »
Hawaii
Former L.A. 'Bond Guy' Miller to Retire
After nearly 30 years with the city, Los Angeles Chief Legislative Analyst Gerry Miller announced on Tuesday plans to retire August 29 in a letter to the City Council.  more »
California
Anaheim Activists Want to Invalidate New Convention Center Bonds
An Orange County, Calif. citizens' group says it will file a lawsuit in an attempt to invalidate $265 million in bonds issued for an expansion to the Anaheim convention center.  more »
California
Lockyer: Prices Better Than Expected on $750M Deal
The state of California sold $750 million of general obligation bonds in a competitive deal on Tuesday, with Wells Fargo submitting the winning bids.  more »
California
California Healthcare System Downgraded to Junk
Standard & Poor's downgraded Daughters of Charity Health System, Calif. by six notches to junk level B-minus following the system's earlier announcement that it is looking for buyers for its hospitals.  more »
California
S&P: Stockton Agency's TIF Bonds Now Stable
Standard & Poor's has revised the outlook to stable from negative on the Stockton Public Financing Authority's outstanding tax increment financing bonds.  more »
California
U.S. Rep. Tony Cardenas Reaches Out to Sriracha Maker
U.S. Rep. Tony Cardenas told the manufacturer of the popular Sriracha hot sauce if Irwindale, Calif. doesn't want your factory the San Fernando Valley will take it.  more »
California
Jerry Brown Calls Special Session for Rainy Day Fund
California Gov. Jerry Brown has called a special legislative session for later this month to take up changes he has proposed for the state's Rainy Day Fund.  more »
California
Bell's Corrupt Rizzo Sentenced; Restitution Ordered
Restitution from seven corrupt former Bell, Calif. city leaders is expected to total more than $18 million, but the city's current finance director isn't convinced the city will see that money.  more »
California
Audit: Rampant Questionable Spending in Cudahy, Calif.
An audit of Cudahy, Calif. by State Controller John Chiang found misuse of taxpayer dollars, contract violations, mismanaged state grant funds, and more questionable financial practices.  more »
California
California Preps $750M of Competitive GOs
California is planning to sell $750 million of general obligation bonds next week to fund transportation projects and refund outstanding commercial paper debt.  more »
California
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Commentary: Pricing 5% Bonds with Shorter Calls
A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.

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