Far West

California Treasurer John Chiang on Thursday appointed 12 individuals to a task force he commissioned to develop best practice guidelines on the fiduciary care and use of state and local bond proceeds.

San Diego is moving ahead with plans to price $120 million in bonds in April in the face of an appeal of a court ruling that the city can legally issue the bonds.

Franklin Templeton Investments filed its first brief on March 25 appealing the ruling that allowed Stockton to exit bankruptcy.

Standard & Poor’s joined Fitch Ratings in upgrading the rating on the California Department of Water Resources power revenue bonds.

A Republican congressman said Tuesday he is concerned that the Securities and Exchange Commission's approach to municipal market enforcement risks creating an environment where only big players will get a seat at the table.

Fitch Ratings upgraded bonds issued by the California Department of Water Resources after a state of emergency was declared in 2001 to deal with soaring energy prices.

Tobacco bonds may be on their way to the biggest volume since 2007, led by Wednesday's $1.7 billion sale from California, as issuers refinance amid a decline in smoking that's cut deeply into revenue.

Brian White, chief executive of the $10.4 billion San Diego County Employees Retirement Association, has resigned effective March 30.

Municipalities in fiscal crisis faced diminished abilities to manage federal grants because of workforce reductions, decreased financial capacities and outdated information technologies, the U.S. Government Accountability Office concluded in a report.

A subsea traffic tunnel below Chesapeake Bay has been pushed ahead to take advantage of low interest rates.