Andrew Ward

SAN FRANCISCO — San Francisco International Airport plans to refund $215.9 million of fixed-rate debt with variable-rate demand obligations next week, as it seeks to pair debt with forward swaps it agreed to enter before the financial crisis.

Oregon Gov. Ted Kulongoski this week called for a constitutional amendment that would force the state to save more in good years by directing part of its “kicker” tax rebates into an emergency reserve fund.

San Francisco Unified School District superintendent Carlos Garcia this week proposed laying off teachers as part of a plan to close a projected $113 million budget gap over the next two fiscal years.

SAN FRANCISCO — Oregon voters approved $727 million of tax hikes Tuesday, keeping the state’s budget balanced amid a sharp economic contraction.

SAN FRANCISCO — California’s East Bay Municipal Utility District plans to issue more than $1 billion of debt over the first half of this year, as it continues to deal with the fallout from the financial crisis and seeks to take advantage of low interest rates and subsidies that the ­federal government has used to respond to the crisis.

Oregon’s economy added a “substantial” number of jobs in December for the first monthly increase in payrolls since July 2008, according to the state Employment Department.

SAN FRANCISCO — Fitch Ratings yesterday cut its outlook on the Truckee Meadows, Nev., Water Authority’s A-rated water revenue bonds to negative from stable ahead of a $31.4 million bond sale next week.

SAN FRANCISCO — The San Diego County Water Authority, California’s third-largest urban water agency, this week plans to price $639 million of water revenue bonds, including its first Build America Bonds.

SAN FRANCISCO — The Las Vegas Monorail Co., which has more than $600 million of municipal bonds outstanding, sought Chapter 11 bankruptcy protection Wednesday.

The Bay Area Toll Authority’s oversight committee on Wednesday approved toll hikes on the seven state owned toll bridges in the San Francisco Area. The toll hikes must now be approved by the Oakland-based agency’s full board.

San Diego Mayor Jerry Sanders ruled out bankruptcy and pledged to balance the city’s structural budget deficit within the next 18 months in his annual state of the city address this week.

SAN FRANCISCO — Los Angeles County, the nation’s largest, may be forced to make deep budget cuts to balance its fiscal 2010-2011 general fund budget in the face of new state budget cuts and continued weakness in revenue collections, officials said Tuesday.

SAN FRANCISCO — Standard & Poor's Wednesday upgraded $9.03 billion of California Department of Water Resources power supply revenue bonds to AA-minus from A-plus on reduced exposure to electricity market volatility.

Standard & Poor's Wednesday upgraded $9.03 billion of California Department of Water Resources power supply revenue bonds to AA-minus from A-plus on reduced exposure to electricity market volatility.

The Vallejo, Calif., City Council unanimously approved a bankruptcy workout plan last week that outlines the city's aims in negotiations to end the biggest municipal bankruptcy since the mid-1990s.

The San Diego County Water Authority board of directors last week approved the sale of up to $686 million of Build America Bonds and tax-exempt debt in early January.

Oregon voters will decide two measures next month that, if defeated, could blow a $733 million hole in the state's general fund budget for the 2009-11 biennium.

Standard & Poor's affirmed its AA rating and stable outlook on Montana's $183 million of general obligation bonds.

Moody's Investors Service downgraded the Port of Oakland's senior-lien revenue bonds to A2 from A1 on weakness in both seaport and airport revenue.

The Federal Home Loan Bank of San Francisco has provided $167 million in letters of credit for non-housing tax-exempt bonds since legislation authorized the transactions last year.