California

A California bill that would encourage the state’s two big public pension funds to invest in state infrastructure was approved in committee.

Long Beach, Calif. closed Wednesday on $513 million in financing on a public-private partnership for a new city hall, port headquarters, library and park.

Legislation to put California’s teacher pension fund on a more sustainable track could prove to be bitter medicine for some school districts and the state itself because of higher contributions.

The San Diego Association of Governments plans a bond sale in mid-July.

While the key oil production states of Oklahoma, North Dakota and California have all been hit hard by the drop in crude oil prices, the impact varies at both the state and local government level, Moody’s Investors Service says.

California’s Department of Finance reported that March revenues came in $170 million below the $7.6 billion projected in the governor’s budget.

San Ysidro School District, once on the verge of a state takeover, had its certificates of participation boosted to investment grade by Fitch Ratings.

San Diego Mayor Kevin Faulconer uploaded seven years of the city’s budget information into an online tool to make it easier to track how tax dollars are spent.

Orange County, Calif., anticipates forming community facilities districts each year over the coming decade that would issue unrated dirt bonds to pay for infrastructure on a 23,000 master-planned community.

San Francisco-based Dignity Health had its outlook revised to negative from stable by Standard & Poor's, which cited a decline in financial performance.