California

Supporters of an initiative that would shift $8 billion in bond money from California’s high speed rail to water projects say their aim is to reprioritize how the state’s bond money is spent.

Stockton, Calif. has notched another legal win for its bankruptcy exit plan. That doesn’t mean the fight is over.

California fell slightly short of revenue projections in November, but remains more than half a billion dollars ahead of budget projections for the first five months of the fiscal year, according to the state controller.

A San Diego City Council committee approved a June 2016 ballot measure that would earmark up to $5 billion for infrastructure repairs.

A California Public Employees’ Retirement System plan to slowly revise investment return assumptions has Gov. Jerry Brown and others concerned that the massive pension fund could be exposing state and local governments to serious financial risk.

In a report, Moody’s Investors Service said it has completed a review that resulted in upgrades for almost all of the $4.7 billion of California tax allocation bonds it rates.

The Los Angeles City Council approved a four-year labor contract that rolls back pension reform measures enacted in 2012.

Standard & Poor's has affirmed its A-minus rating on Sunnyvale Redevelopment Agency Calif.'s series 2003 tax allocation bonds and revised its outlook to positive from stable, citing the likely settlement of its court battle with the state Department of Finance.

California Attorney General Kamala Harris approved a management agreement for the Daughters of Charity Health System saying it would stave off bankruptcy and maintain services at the hospital chain.

California’s state auditor said she found widespread mismanagement at the Central Basin Municipal Water District and made more than 35 recommendations for changes.

Moody’s Investors Service deems California’s projected growth in education funding is a credit positive for the state’s schools and community colleges.

The California controller’s office said the Lottery Education Fund totals rose slightly this year to $1.39 billion.

A district that replenishes Los Angeles-area aquifers is selling bonds for a project designed to help eliminate its use of imported water.

Backers of a California initiative want voter approval on revenue bonds issued for state projects costing more than $2 billion.

Seven U.S. cities intend to dedicate 10% of their annual budgets toward resilience strategies under a worldwide program designed to fortify urban centers.

A legal opinion defining San Diego Unified School District bonds as special revenues was credited with the district's $470 million pre-Thanksgiving general obligation bond sale being oversubscribed.

Oxnard, Calif.'s issuer credit rating received a downgrade from Standard & Poor's, to A-plus from AA-minus.

Standard & Poor's upgraded Benicia, Calif's issuer credit rating to AA from AA-minus, and raised the underlying rating on the California Public Property Financing Corp.'s series 2011 certificates of participation issued on behalf of the city to AA-minus from A-plus.

The Los Angeles Unified School District’s decision to create task forces aimed at cutting costs to avoid a projected $333 million deficit in 2017-2018 is a credit positive, according to Moody’s

A California tax board responsible for handling $48.5 million, representing 24% of state revenue in fiscal 2013-14, is placing money in the wrong accounts and failing to collect debts, according to the controller’s office.