Randall Jensen

The Stockton, Calif., City Council voted Tuesday night to give the city manager the power to file for municipal bankruptcy if current talks with creditors are unsuccessful by the end of the month.

Fitch Ratings has downgraded more than $1.8 billion of San Jose Redevelopment Agency bonds as the city battles Santa Clara County over tax revenue.

Confusion over the law ending redevelopment agencies in California has raised the specter of defaults on San Jose redevelopment debt as city officials squabble with Santa Clara County officials over tax revenue.

SAN FRANCISCO — Standard & Poor’s said it has dropped the underlying rating on two Stockton water revenue bonds by three notches to BB-plus amid a looming default as the California city considers bankruptcy.

California’s Golden State Tobacco Securitization Corp., the entity that issues bonds secured by the state government’s settlement with cigarette companies, will again have to dip into reserves come December to make interest payments.

The Golden State Warriors basketball franchise has announced plans to relocate to San Francisco in 2017, a move that will leave their current landlords in Oakland still facing bond payments on the team’s current home.

The Stockton City Council will decide next week whether to give its city manager the power to declare bankruptcy if it is unable to get enough concessions from creditors before the end of June.

SAN FRANCISCO — California's Legislative Analyst's Office said Gov. Jerry Brown's proposed budget policies could lead to a balanced budget within a few years.

Siebert Brandford Shank & Co. has boosted its ranks in California with the addition of an office in San Diego and top brass in its Los Angeles (Brian Corley) and Oakland (Anand Kesavan and Steven So) offices.

Firms that work as financial advisors helping California school districts issue bonds after serving as campaign consultants on the preceding bond measure have a conflict of interest and are engaged in a form of "pay-to-play," critics say.

Oregon’s Office of Economic Analysis said April provided no revenue surprises on either the upside or downside.

The California Legislative Analyst’s Office has said it makes sense for Gov. Jerry Brown to use $411 million for the budget from the state’s share of a nationwide settlement with five major banks over illegal foreclosures.

SAN FRANCISCO — Stockton, Calif., officials said Monday creditors have agreed to extend talks on how to keep the city out of Chapter 9 bankruptcy.

SAN FRANCISCO — The San Francisco Public Utility Commission will hit the market with $686 million of revenue bonds as it continues to raise billions for a seismic upgrade of its water system.

SAN FRANCISCO — California's nonpartisan Legislative Analyst's Office released a report Friday on Gov. Jerry Brown's May Revise budget, calling the governor's economic and revenue forecast reasonable but questioning how much the state will reap from the end of redevelopment.

Moody’s Investors Service downgraded Wenatchee, Wash.’s unlimited-tax general obligation bond rating to Ba2 from A3 on Monday because the city will allow a local events center to default on debt the city agreed to back.

Alaska Gov. Sean Parnell vetoed $66 million from the budget passed by the Legislature in April, much less than in the past two years, according to local reports.

As California grapples with an estimated $16 billion budget gap, analysts warned lawmakers to shun one-time gimmicks to try fix the shortfall.

California Gov. Jerry Brown released a revised budget that will try to bandage a projected deficit that has grown by $6.5 billion to nearly $16 billion for the next fiscal year.

SAN FRANCISCO — California Controller John Chiang said he found "glaring holes" in the finances of the city of Hercules during two audits.