California

Federal Railroad Administration gave California's bullet train authority another 90 days to come up with $180 million of state match for federal spending.

Local and national transportation officials gathered in Los Angeles Thursday to sign a grant agreement directing $670 million in federal funds to a $1.4 billion project to connect light rail lines now 1.9 miles apart on the opposite ends of downtown Los Angeles.

If bankrupt Stockton and San Bernardino, Calif. fail to modify their pension liabilities, they could end up like Vallejo, which did not change those liabilities and now risks of a second bankruptcy, said Moody's.

El Rancho Unified School District lost its A-plus rating from Fitch, which cited concerns over financial projections, one month after the Los Angeles County Office of Education appointed a fiscal advisor to the school board. Such an appointment is often a first step before the state takes over a troubled school district.

Standard & Poor's has downgraded the ratings on Northern Inyo Local County Hospital District's revenue bonds to junk.

California's drought emergency has heightened the need for financial aid, as the state and federal government pledge to send funds to communities in need.

California Gov. Jerry Brown has signed into law a bill that would allow infrastructure finance districts to include previous redevelopment project areas.

Moody's Investors Service on Feb. 18 upgraded Orange County, Calif. Sanitation District's certificates of participation to Aa1 from Aa2 affecting $392.1 million in debt.

The California Housing Finance Agency showed it's possible to buy time, and not just kick the can down the road, when faced with significant financial challenges, according to a Municipal Market Advisors report.

A California appeals court has agreed to fast track review of a lower court's decision that prevents the state from issuing $8.6 billion in bonds for its high-speed rail project.

California school and community college districts have $37.5 billion in authorized, but unissued local school bonds, according to a report that could influence if voters see a new state-level school bond measure.

Republican City Councilman Kevin Faulconer was elected San Diego mayor in a Tuesday night run-off election, replacing former mayor Bob Filner, who resigned last fall amid a sexual harassment scandal.

The rain and snowstorms that hit California last weekend weren't enough to pull the state out of its drought emergency, according to Fitch Ratings.

A three-judge panel granted California a two-year extension on court-ordered efforts to reduce prison overcrowding reducing the likelihood the state will have to resort to early release.

California revenue for the month of January was down from last year, but beat estimates in the state budget.

California lawmakers have introduced a bill that would allow a water district on the central coast issue water rate relief bonds to help fund its Monterey Peninsula Water Supply Project.

Moody's Investors Service downgraded the rating of Lancaster, Calif.-based Antelope Valley Hospital District to junk, maintaining a negative outlook

Many California lawmakers agree that the drought-stricken state needs a new water bond measure, but have different ideas regarding the funding amount and allocations.

Fitch Ratings downgraded more than $7 billion of general revenue bonds issued by the University of California to AA from AA-plus.

Voters in bankrupt San Bernardino, Calif. elected as mayor, Carey Davis, who ran on a platform critical of decisions made by town leaders that he says landed the city of 213,000 in bankruptcy.