California

Stockton's official bankruptcy exit set for Wednesday may be anticlimactic to some as a bankruptcy judge approved the city's plan of adjustment needed to exit in October.

The SEC concluded without charges an investigation it launched into Bell, Calif.'s bond debt in 2010 after fraud perpetuated on the city by the former administration came to light.

California will experience favorable fiscal conditions through 2017 benefitting both the state and its local governments, according to Moody's Investors Service.

Oakland Raiders and San Diego Chargers unveil the fourth plan in recent years for a National Football League stadium in Los Angeles County.

California should create a grant program supported by the state's general fund to pay for school construction and maintenance instead of relying on voter-approved bonds, according to the state's non-partisan Legislative Analyst's Office.

After five years as head of California's private activity bond allocation committee, Sean Spear is leaving to work as the managing director for a multifamily financing and municipal advisory firm.

Los Angeles Mayor Eric Garcetti named city officials to a task force charged with creating a development strategy for the city's waterfront.

Kern County, Calif., is likely to withstand the revenue hit from the drop in oil prices, but smaller Kern County credits may not fare as well, according to Gurtin Fixed Income Management LLC.

The alleged $1.3 million embezzlement from a Bay Area conduit bond issuer has spurred action in Sacramento, triggering legislation, a task force and an audit.

The $7.5 billion in bond authority California voters approved in November represents a fraction of what is needed to fund water projects in the state, experts told state lawmakers.

Moody's Investors Service upgraded Los Gatos, Calif.'s issuer rating to Aaa from Aa1 and its certificate of participation rating to Aa2 from Aa3, affecting $21.8 million in lease-backed debt.

Fitch Ratings upgraded Vista, Calif.'s implied unlimited tax general obligation rating to AA-plus from AA and $111 million certificates of participation series 2007 to AA from AA-minus.

An appellate court ruling could mean increased financial pressure for cities that transfer revenue from electric utilities to general operating funds, Fitch Ratings warned in a report.

Opponents of California's High Speed Rail project filed an appeal Monday challenging a ruling that favored federal jurisdiction over California environmental regulations on a segment of the line from Fresno to Bakersfield.

California's general fund tax revenues are coming in $1 billion to $2 billion over the already healthy projections in Gov. Jerry Brown's proposed budget, according to a new report from the state's Legislative Analyst's Office.

Berryessa Union School District, located in San Jose, Calif., received a ratings boost to AA-minus from A-plus on its long-term ratings and on the district's upcoming plans to issue $40 million in general obligation bonds.

Fitch Ratings has upgraded the rating on Cedars Sinai Medical Center's outstanding debt to AA-minus from A-plus and revised its outlook to stable from positive affecting $1 billion in debt.

In a formal written opinion, U.S. Bankruptcy Judge Christopher Klein reiterated that bankruptcy law gave Stockton, Calif. the legal authority to impair pensions, even though the city chose not to.

Gina Marie Lindsey, executive director of the Los Angeles World Airports which runs Los Angeles International Airport and two others, plans to retire in the spring.

The Association of Bay Area Governments plans to reimburse San Francisco the $1.3 million missing from a city redevelopment fund after an alleged theft by its finance director and conduct a forensic audit the transactions he worked on.