California

For the first time since 2007, California ended the fiscal year with a positive cash balance in its general fund, according to State Controller John Chiang.

Ceding to the city, the San Bernardino Police Officer's Association decided not to ask the bankruptcy judge to set a deadline for the city to file a plan of adjustment in a filing Monday.

The California Legislature has adjourned for summer recess this month after failing to reach a compromise on a multi-billion water bond to place on the November ballot.

The Long Beach Community College District in California is seeking a settlement with the Internal Revenue Service because of a private-activity bond problem with bonds it issued in 2008.

Bond lawyers and issuers are frustrated that the Securities and Exchange Commission did not specify the disclosure failures that led to its settlement with a California school district on Tuesday. They said it leaves them with no helpful guidance on what kinds of disclosures the SEC is focusing on in its Municipalities Continuing Disclosure Cooperation voluntary enforcement initiative.

California's drought conditions didn't impact Metropolitan Water District of Southern California's bond ratings ahead of its plans to refund $122 million in 2014 water revenue refunding bonds on July 21.

Moody's Investors Service on July 7 downgraded Coachella Valley Unified School District, Calif.'s general obligation bonds to A2 from A1 ahead of plans to refund $30 million on July 24.

A Stockton bankruptcy court hearing provided clarity on collateral involved in the case, and hints about the judge's thoughts about the city's pension liabilities, but decisions on the city's exit plan will wait until October.

Former Assembly Speaker John A. Pérez has filed a request for a recount of votes in the California primary election for state controller, after preliminary numbers show him coming in third place by a very slim margin.

If approved, a proposal to cap the amount of money California school districts can keep in reserves would have neutral to negative credit implications on districts, according to Standard & Poor's.

Academy Securities, a registered broker-dealer and certified disabled veteran business enterprise, has announced a merger agreement with broker-dealer Carolina Capital Markets.

Moody's Investors Service said a new law that increases the contribution rates to the California State Teachers' Retirement System fund is a credit positive for the system.

A hearing officer is recommending throwing out new pension rules enacted last summer by the city of Los Angeles, but a city official says it is still early in the process.

Moody's Investors Service placed a negative outlook on Sutter Health’s revenue bonds, based on the system's poor operating performance and significant capital needs.

Moody's Investors Service has upgraded the rating to Aa3 from A1 on the Southern California Public Power Authority's Milford Wind Project Revenue Bonds and gave the bonds a stable outlook.

California Gov. Jerry Brown appointed Tia Boatman-Patterson, a Democrat, to be executive director of the California Housing Finance Authority.

Raymond James is continuing its expansion on the West Coast with the recent addition of an education banker to its public finance group in San Francisco.

The 114-mile segment of California's high speed rail project from Fresno to Bakersfield received the record of decision from U.S. Department of Transportation's Federal Railroad Administration enabling it to break ground on that segment.

A proposal for a state school bond is moving forward in the California Legislature, though the total amount of the bond has not yet been agreed upon.

A recently approved policy change that extends the accreditation review period is a credit positive for the San Francisco Community College District, according to Moody’s Investors Service.