Far West

Lawsuits targeting validation lawsuits for pension obligation bonds in California generally stop issuers from considering issuance, but two cities have fought and, so far, won.

California Gov. Gavin Newsom fast-tracked the first $3.3 billion of a bond measure approved by voters in March.

Though further adjustments may be needed, Fitch Ratings analysts said the budget supports the state at its current AA rating level.

California Gov. Gavin Newsom released an executive order directing state agencies to clear homeless camps off state properties and urged cities to do the same.

The city announced its P3 partner this week even after its federal funding got cut in committee and Rep. Maxine Waters took a strong oppositional position.

Revenue from the sales tax could be used to issue long-term debt to reduce the extensive backlog of city projects.

A rapidly escalating fire season hit the West amid questions about federal funding and insurance.

Encompassing roughly 270,000 acres, or about 420 square miles, the mixed-use property owned by the publicly traded Tejon Ranch Co. has long been at the center of a debate over wildfires and urban sprawl.

A majority of likely California voters favor a $10 billion bond for climate resiliency projects, according to a Public Policy Institute of California poll.

Public pensions are averaging a significantly improved 80.6% funded ratio, but took on riskier investments to obtain higher returns, which would be problematic in a market correction.