Far West

A bill that would enable the Los Angeles Department of Water and Power and other public California water utilities to issue project-specific bonds through a joint powers authority is moving through the state legislature.

Moody's Investors Service said it has raised its rating on $5.2 billion of California economic recovery bonds to Aa2 from Aa3.

Ontario, Calif. officials filed a lawsuit to have their regional airport returned to local control following a three-year battle with Los Angeles officials.

Los Angeles County received the highest possible short-term bond rating from the three largest rating agencies ahead of plans to purchase $1 billion in short-term paper.

Judith Frank, 71, of Los Angeles, has been re-appointed to the California Health Facilities Financing Authority.

The Federal Bureau of Investigation Tuesday raided the offices of Sen. Ron Calderon, D-Montebello, according to local reports.

The Securities and Exchange Commission is asking market participants to help it craft a definition of retail money market funds as part of a set of reforms that it proposed Wednesday.

Los Angeles and Riverside counties are working on programs designed to help redevelopment successor agencies handle refundings to capture interest-rate savings on bonds issued by the dissolved RDAs.

Saying she wants to "light a fire" under attorneys in the case, U.S. Bankruptcy Judge Meredith Jury scheduled a summary judgment hearing on San Bernardino, Calif.'s eligibility for bankruptcy.

Moody's Investors Service said in a report Wednesday that it has withdrawn ratings on $1.2 billion of debt issued by 22 former California redevelopment agencies due to a lack of information.