California

Moody’s Investors Service deemed a California appeals court ruling a credit negative and an impediment to the ability of California water suppliers to meet conservation mandates without financial repercussions, according to a report released May 3.

Pension obligation bonds are land mines municipal issuers should avoid, according to Janney Capital Markets.

Michael Milken, chairman of the Milken Institute, put a call-out to financial professionals to help solve California’s drought crisis and issues around climate change .

The Panama Canal expansion will benefit East Coast local governments near key ports, but West Coast ports will not lose business from the expansion, according to a Moody’s Investors Service report.

California needs to spend $853 billion on infrastructure for transportation, water and K-12 facilities over the next 10 years just to maintain the state's current infrastructure, according to a report released on April 28.

The Los Angeles City Council began budget hearings April 28 on the $8.5 billion budget proposed by the mayor for fiscal 2015-16.

A California appellate court's decision could reduce the economic flexibility of local governments and water utilities that analysts are already concerned could struggle to raise revenue in the arid conditions.

Los Angeles city officials say Mayor Eric Garcetti's 2015-16 budget proposal takes another large step forward toward resolving the city's structural deficit.

The state auditor both praised and criticized realignment and the health of the prisoners is still under federal receivership.

Fitch Ratings assigned an F1-plus rating to Riverside, Calif.'s plans to refund $30 million in taxable pension obligation bond anticipation notes, and also affirmed the ratings on another $112 million in debt.

San Diego Mayor Kevin Faulconer launched a plan to cut red tape and make it easier for the city to move forward on a program to repair its streets and sidewalks.

Standard & Poor's downgraded revenue bonds for the North Kern Water Storage District, Calif. to A-plus on volatile financial performance.

Proposed state legislation in California would raise the gasoline tax to generate an additional $3 billion a year for transportation projects.

Los Angeles Unified School District officials stand behind their disclosure after the U.S. Securities and Exchange Commission opened an informal inquiry into the district’s compliance with legal guidelines in the use of bond proceeds to buy iPad tablets.

Moody's Investors Service upgraded the Sacramento Municipal Utility District Financing authority's outstanding bonds ahead of plans to price a $195 million refunding of electric revenue bonds on April 22.

Rising retirement benefit costs are threatening municipal services in California and the problem will worsen short-term, according to a Manhattan Institute report.

Los Angeles Mayor Eric Garcetti took aim at earthquakes, drought and increased police protection in his State of the City speech Tuesday.

Los Angeles City Councilman Paul Krekorian introduced two motions Tuesday to mandate water recycling and protect the city's trees.

With at least 36 states facing water shortages this year, mayors across the country will be asking residents to make a commitment to conserve water and cut pollution by taking part in a national contest aimed at drastically slashing water and energy use across the nation.

Former San Jose Mayor Chuck Reed is digging in for more pushback from the largest public pension fund in the U.S. in his latest push to give California municipalities more leeway to control pension costs.