California

California ranked 48th in the country for its business tax climate in an index released Oct. 28 by the nonpartisan Tax Foundation in which 50 is the worst ranking.

California's Controller, John Chiang, a Democrat will face off against Republican Greg Conlon, a businessman and former California Public Utilities Commission chair, in the race for treasurer to replace the retiring Bill Lockyer.

San Bernardino's pension obligation bond creditors urged the judge in the city's bankruptcy case, now in its third year, to set a March 1 deadline for a plan of adjustment.

At least two issuers recently redeemed or said they are planning to redeem bonds issued to finance detention facilities because of private use. One redemption was required under a settlement between the issuer and the Internal Revenue Service and the other was triggered by provisions in the offering document.

When former California State Senate President pro Tempore Darrell Steinberg's Senate term is up this year, he will join Greenberg Traurig's government practice.

California's drought has added a sense of urgency to a proposal for a $900 million seawater desalination project in Huntington Beach, Calif.

Most of the Californians interviewed in a recent Public Policy Institute of California survey said they would vote for the $7.5 billion state water bond measure.

Moody's Investors Service has downgraded the rating on Antioch Unified School District based on its weakened financial position.

California's state-owned earthquake insurance provider is planning to sell $350 million of taxable bonds next week to help boost its ability to pay claims.

A refunding deal assembled by the County of Los Angeles Redevelopment Refunding Authority triggered some positive rating actions for debt issued by the former Community Redevelopment Agency of Los Angeles.

Moody's Investors Service affirmed Loma Linda University Medical Center, Calif.'s Baa3 revenue bond rating.

In a major boost for California's high-speed rail project, the California Supreme Court declined to consider petitions challenging funding for the state's bullet train.

John Deasy, Los Angeles Unified School District Superintendent, resigned after months of controversy arose about bidding practices involving a plan to put iPads in the hands of every student.

The mayor of bankrupt San Bernardino and the city's police union both claim the other side attempted to violate the terms of a tentative contract agreement reached in confidential mediations.

As California Treasurer Bill Lockyer nears the end of his tenure, he talks about some of the biggest challenges he's faced, and the ones that still lie ahead for the Golden State.

The California County Tobacco Securitization Agency on Oct. 21 plans to price a $95.5 million refunding of 2002 tobacco bonds issued for the Kern County Tobacco Asset Securitization Agency.

Total revenues for the month of September, which ended the state's first fiscal year, came in above estimates at $9.8 billion.

Moody's Investors Service on Oct. 13 downgraded Long Beach, Calif. Airport Enterprise to A3 from A2 and revised the outlook to stable from negative affecting $117.5 million in outstanding senior airport enterprise revenue bonds.

Fitch Ratings upgraded Rady Children's Hospital and Health Center in San Diego to AA-minus from A-plus.

The new Enhanced Infrastructure Financing District law signed by Gov. Jerry Brown last month is a credit positive for California's local governments, says Moody's Investors Service.