California

The University of California will bring $950 million of revenue bonds to market next week in a tax-exempt and taxable deal to fund construction projects throughout its campuses.

The Fix L.A. Coalition, a group of union and progressive organizations, released a report suggesting the city could substantially reduce the $204 million in bank and money management fees that it paid last year to Wall Street firms.

Moody's Investors Service affirmed San Diego Unified School District's Aa3 general obligation bond rating.

The Anaheim Public Financing Authority plans to price $265 million of lease revenue bonds on Tuesday to fund an expansion of the Anaheim Convention Center.

Hercules officials said they plan to seek to have the city's CCC-plus rating from Standard & Poor's reinstated.

Urban Futures, the company acting as financial advisor to San Bernardino during its bankruptcy, hired John Phan as a principal in the firm's Orange, Calif., office.

The California State Public Works Board is planning to sell $793 million of revenue bonds next week to finance on behalf of the California Department of Corrections and Rehabilitation construction costs for a state prison and correctional facility.

The postponement of a pension reform measure that was headed for the November ballot is a credit negative for California's local governments, Moody's Investors Service said.

Detroit's treatment of its general obligation bonds could have broader implications in the municipal bond market, but California's GO bond pledge will remain strong, market experts say.

Hercules, Calif., officials said Tuesday they may default on electric system revenue bonds if a tender offer fails to draw enough buyers by March 28, the end of the offer period.

Detroit's bankruptcy proceedings are on hyper speed compared to San Bernardino's Chapter 9 bankruptcy.

Los Angeles CAO Miguel Santana told the mayor and city council that they need to continue to rein in expenses including labor costs, and seek voter-approved tax increases for infrastructure repairs, if they want to eliminate the structural deficit.

A judge denied a challenge filed by San Jose Mayor Chuck Reed and other supporters of the Pension Reform Act of 2014, causing them to delay placing the measure on California's November 2014 ballot.

Los Angeles County Metropolitan Transportation Authority is undergoing a reorganization to shrink what a consultant's report called a "top heavy" executive structure, and Chief Financial Officer Terry Matsumoto is leaving.

California's Legislative Analyst's Office is suggesting that the legislature approve some of Gov. Jerry Brown's proposals to change current law regarding infrastructure financing districts, while rejecting others.

The Transportation Corridor Agencies boards voted Thursday to accept the resignation of Neil Peterson, chief executive officer of two Orange County, Calif. toll roads, who will be replaced on an acting basis by Michael Kraman.

Courtroom sparks continue to fly between California and former redevelopment agencies nearly two years after the state's highest court ruled in favor of dismantling the tax-increment financing program that had been created to fight blight.

The state of California upsized its $1.6 billion GI deal to $1.8 billion and priced a day early on Wednesday amid strong demand.

Moody's Investors Service has downgraded the general revenue bond rating on the University of California ahead of its $750 million bond sale next month.

The two boards of the Irvine, Calif.-based Transportation Corridor Agencies are scheduled to vote Thursday on whether to accept a settlement agreement governing the resignation of Chief Executive Officer Neil Peterson.