Andrew Ward

SAN FRANCISCO — The Los Angeles County Metropolitan Transportation Authority unanimously voted to endorse Los Angeles Mayor Antonio Villaraigosa’s proposal to accelerate the region’s mass-transit capital plan.

SAN FRANCISCO — California’s big underwriters make markets in credit default swaps on the biggest municipal issuer’s general obligation bonds, but they don’t seem to be betting against the state.

Moody’s Investors Service downgraded the underlying ratings on $6.56 billion of California Housing Finance Agency home mortgage revenue bonds to A3 from Aa3 Monday, citing a “severe deterioration” of the state’s housing market.

Los Angeles Mayor Antonio Villaraigosa appointed former investment banker Austin Beutner as interim general manager of the Los Angeles Department of Water and Power, the biggest U.S. municipal utility.

San Francisco Mayor Gavin Newsom reached an accord with public employee unions this week to cut labor costs by $200 million over two years.

SAN FRANCISCO — Los Angeles Mayor Antonio Villaraigosa proposed a $4.34 billion fiscal 2010-11 general fund budget that would cut spending by 2.2% to rein in the deficit and rebuild reserves amid continued declines in most major tax revenue.

SAN FRANCISCO — Fitch Ratings downgraded $3.4 billion of Los Angeles debt because policymakers in the second-biggest U.S. city have failed to balance its budget and plan to drain its reserves.

SAN FRANCISCO — The Los Angeles Department of Water and Power’s board approved an electricity rate increase, accepting a smaller-than-requested hike to end a standoff with the Los Angeles City Council.

SAN FRANCISCO — San Diego Mayor Jerry Sanders proposed a $1.1 billion fiscal 2011 general fund budget that would close a $28.2 million deficit.

SAN FRANCISCO — Los Angeles Mayor Antonio Villaraigosa ended a standoff with the City Council over electricity rate hikes, bringing to a close a political battle of wills that had hurt the city’s ratings and delayed a $720 million power revenue bond deal.

Governors Chris Gregoire of Washington and Ted Kulongoski of Oregon this week appointed an eight-member panel of experts to review plans to build a new bridge across the Columbia River.

The California Senate plans to hold hearings Wednesday on a bill that would limit municipal bankruptcies in the state.

Standard & Poor’s placed Peralta Community College District’s general obligation ratings on negative CreditWatch because the school failed to adopt a budget for fiscal 2010.

California redevelopment agencies expect a court to rule on the constitutionality of a $2.05 billion state raid on redevelopment revenue before a looming deadline for first payments by the agencies.

SAN FRANCISCO — The Washington Legislature rebalanced the state’s 2009-11 biennial budget Monday night, closing a $2.8 billion gap with the help of almost $750 million in new taxes.

SAN FRANCISCO — Los Angeles was making progress reducing its budget deficit before a political standoff derailed a planned electricity rate increase, a new report from the office of the city administrative officer says.

The Los Angeles Department of Water and Power, the nation's largest municipal utility, said its finances remain strong, even amid a stalemate between local elected officials that has held up a planned electricity rate increase.

SAN FRANCISCO — California's receipts exceeded forecasts for a fourth consecutive month in March, adding to the evidence that the state has turned a fiscal and economic corner, according to Controller John Chiang's monthly cash report.

SAN FRANCISCO — California's receipts exceeded forecasts for a fourth consecutive month in March, adding to the evidence that the state has turned a fiscal and economic corner, according to Controller John Chiang's monthly cash report.

Los Angeles, the nation's second-biggest city, may lose its double-A-level ratings over a 10th of a cent. That's the per-kilowatt-hour difference between the most recent electricity rate hike proposals from the City Council and Mayor Antonio Villaraigosa's appointees at the Los Angeles Department of Water and Power.