Randall Jensen

SAN FRANCISCO — The Stockton, Calif., City Council voted Tuesday night to default on payments tied to $330 million of bonds and begin negotiations to try to avoid Chapter 9 bankruptcy.

The Stockton, Calif., City Council voted Tuesday night to default on some bonds payments and begin negotiations with creditors in an effort to avoid filing for Chapter 9 bankruptcy.

Stockton, Calif.'s announcement that it may cease general fund payments toward debt service on hundreds of millions of dollars in bonds, and take initial steps towards bankruptcy, is still shaking out in the market.

Washington House Democrats proposed a budget this week that would close a $1 billion gap in the state’s current two-year budget.

California’s 24 local pension systems are underfunded to the tune of $135.7 billion, according a new report from the Stanford Institute for Economic Policy Research.

California Wednesday morning closed the private placement of $1 billion of revenue anticipation notes to Barclays Capital and JPMorgan.

SAN FRANCISCO — The University of California this week will sell $500 million of 100-year bonds in an effort to attract pension fund and overseas investors.

SAN FRANCISCO — Oakland Unified School District lost its only remaining rating last week after Moody's Investors Service pulled its coverage of the district with more than $700 million of general obligation debt outstanding.

California will sell up to $1 billion of revenue anticipation notes to Barclays Capital and JPMorgan next week in an effort to ease a cash crunch, according to the state treasurer’s office.

The Santa Clara City Council voted 5 to 1 Tuesday to approve a contract that would start construction on a $1 billion-plus stadium for the San Francisco 49ers football team in July, according to local press reports.

The California Department of Finance said Wednesday that state revenues in January came in $630 million below forecasts in the Gov. Jerry Brown’s budget proposal.

SAN FRANCISCO – Standard & Poor’s has revised the outlook on its A-minus rating for California to positive from stable.

California Treasurer Bill Lockyer announced Monday that the state will go to market with its first general obligation bond issue this year on March 1 with around $2 billion of refunding GOs.

SAN FRANCISCO – State officials have begun an early effort to find ways for California, Washington and Oregon to save money by cooperating on financing future infrastructure projects pegged in the hundreds of billions of dollars.

SAN FRANCISCO — California Controller John Chiang said Friday state revenues came in $528 million below forecasts last month in Gov. Jerry Brown's proposed budget.

The Oregon Office of Economic Analysis said in a report released Wednesday that projected general fund and lottery revenues have been lowered by $35.1 million from the December forecast.

California’s nonpartisan Legislative Analyst’s Office Monday pointed out concerns it had with Gov. Jerry Brown’s backup budget plan should his tax referendum fail this November.

SAN FRANCISCO — California-based AGFS and Government Financial Strategies have merged their financial advisory practices in what they describe as a melding of shared industry values.

SAN FRANCISCO — The University of Washington, a top-notch credit, will hit a supply-constrained municipal debt market Wednesday with $271.3 million of bonds for refinancing and to fund various construction projects.

Standard & Poor's slashed Hercules, Calif.'s revenue bonds five notches, partly as a result of bankruptcy statements by city officials.