California

A ruling by the U.S. Surface Transportation Board that it has authority to pre-empt state environmental law on construction of California's high speed rail project conflicts with a previous decision by a California Court of Appeals.

State Controller John Chiang issued a report warning of the growing unfunded retiree healthcare liability cost which has reached $71.8 billion.

California's severe drought will cost the state billions of dollars for 2014, but its economy is still doing well, according to municipal analysts at Bank of America Merrill Lynch.

Strong financial management combined with a growing tax base, diverse economy, and growing reserves have placed Los Angeles in a position to strengthen its credit profile, Moody's Investors Service analysts said.

Stockton, Calif. received approval of its bankruptcy plan in October, but it continues to face challenges from its holdout creditor, Franklin Advisors.

Jerry Nickelsburg, senior economist for the UCLA Anderson Forecast, said California's infrastructure is in dire need of reinvention for the 21st Century.

Ratings on many of California's cities continue to recover from the recession, but credit rating distribution in the state remains uneven, according to a report from Standard & Poor's.

For the month of November, California's total revenues came in slightly below estimates, with lower-than-expected income and sales tax collections, according to the state controller.

A San Francisco Superior Court judge will decide in January whether to uphold a decision to terminate the accreditation of the City College of San Francisco.

Tustin Unified School District, located in Orange County, Calif., has been upgraded by Moody's Investors Service ahead of its $45 million general obligation bond sale.

Moody's Investors Service on Dec. 8 upgraded Clovis, Calif., wastewater revenue bonds to A2 from Baa1 affecting $103 million in outstanding debt.

The Airport Commission of the City and County of San Francisco has agreed to pay the Treasury $67,000 and retire $1.145 million of Series A variable rate revenue refunding bonds issued in 2010 to settle a tax dispute with the Internal Revenue Service.

Stephen Cushman, a longtime activist, has been named chairman of the San Diego Convention Center Corp. board of directors.

Agencies in Arizona, California and Nevada are expected to agree on reduced consumption of water from Lake Mead as a 14-year drought continues to lower the reservoir toward a level that requires federal restrictions.

Strong Demand convinced the Los Angeles Community College District's finance team move ahead on plans to price a sizeable $1.4 billion in general obligation bonds this week.

California's Bay Area Toll Authority prices $814 million of revenue bonds next week in a deal structured with an eye to the market's concerns about the potential for rising rates.

The Federal Bureau of Investigation seized 20 boxes of documents Tuesday related to purchases made through Los Angeles Unified School District's $1.3 billion plans to provide iPads to every student.

Termed-out Orange County Supervisor John Moorlach announced his decision to run in a special election for the 37th State Senate District to subscribers of his email blast.

A beleaguered Victorville, Calif. airport authority notified bondholders in a filing that it expected to default for the seventh time on bonds it issued to redevelop the airport from military to civilian use.

Facing continued deficit operations, Mills College in Oakland, Calif. received a downgrade to Baa3 from Baa2 from Moody's Investors Service.