California

Local officials are urging lawmakers to pass a major infrastructure plan after years of disappointment.

The Sacramento City Unified School District is on track to have a negative cash balance in November.

The merger of Catholic Health Initiatives and Dignity Health creates a Chicago-based nonprofit healthcare system with $10 billion in debt and operations in 21 states.

Attention in the municipal bond market turns westward as some of the week's biggest deals will be coming from Hawaii, Washington state and the Los Angeles County Metropolitan Transportation Authority. Buyers will see the biggest issuance week of the year as $7.2 billion of deals will hit the screens.

The San Diego-area system is issuing municipal debt to fund its acquisition of for-profit Northcentral University.

The Chapter 11 filing creates uncertainty for the state and localities where the utility operates.

Moody's dropped to Caa3 a pool of pension obligation bonds likely to be dragged down by wildfire damage to Paradise, California.

The county school superintendent appointed a fiscal advisory team to help Los Angeles Unified close a structural deficit.

KPC Group has agreed to be a stalking horse bidder for Verity Health System's remaining four hospitals.

California’s largest utility owner faces $30 billion in potential wildfire liabilities, and its bankruptcy plan has reverberated across the power industry.

Rating agencies don't expect major impacts to state and local governments from the troubled California utility's pending bankruptcy.

New York will require out-of-state retailers with annual sales of more than $300,000 or 100 transactions in the state to collect and remit sales tax.

Petek has covered California's state government as a public finance rating analyst for S&P Global Ratings.

California's Governor and San Diego's mayor launch separate efforts to combat housing crisis

The LAUSD strike doesn't have an immediate rating impact, but analysts view it as a symptom of larger problems at the district.

Three lawsuits claiming fraud in the variable-rate demand obligation market are headed toward key court rulings in coming weeks.

Affordable housing got a boost this week when the City Council approved tax-exempt financing for a commercial real estate firm's purchase and renovation of a large apartment complex on the city's western edge.

The Sacramento Housing and Redevelopment Agency plans to issue up to $25 million in tax-exempt mortgage revenue bonds to finance the renovation of 74 low-income housing units in south Sacramento. The financing does not include the addition of any new affordable housing units.

Tim Schaefer will remain California's deputy director of public finance under Fiona Ma.

The governor said his proposed fiscal 2020 budget represents a 4% increase over this current budget, of which 80% is one-time costs.