California

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.

California State Controller John Chiang released his monthly cash update for February, showing the state's revenues came in above projections.

The California Public Employees' Retirement System said it lowering the $551,000 annual pension of convicted felon and former Vernon city manager Bruce Malkenhorst to $116,000 a year.

California State Controller John Chiang released a report showing the state's health care liabilities total $65 billion and suggested a way to reduce that amount.

California could see low borrowing costs next week when it brings $1.6 billion of general obligation debt to market.

The Los Angeles Department of Water and Power doesn't expect to completely work through problems associated with a new computer billing system that resulted in revenue shortfalls until year end.

The Irvine, Calif.-based Transportation Corridor Agencies has placed Chief Executive Officer Neil Peterson on leave after a dust-up involving contract approvals.

Moody's Investors Service on Feb. 28 revised its outlook from negative to positive on $3.02 billion in outstanding California Housing Finance Agency's home mortgage revenue bonds and affirmed a Baa2 rating on the bonds.

Moody's Investors Service has placed the rating on the California Housing Finance Agency's multifamily revenue bonds on review for upgrade.

California Gov. Jerry Brown has signed legislation aimed at helping communities deal with impacts from the state's record drought, largely by fast-tracking spending from already voter-approved bond measures.