California

Los Angeles city officials said they have found the right person in Anaheim City Manager Marcie Edwards to replace departing Los Angeles Department of Water and Power general manager Ron Nichols.

Outgoing Los Angeles Department of Water and Power chief Ron Nichols garnered buy-in for rate increases needed to fund an $8.9 billion capital improvement plan, leaving tough shoes for a successor to fill.

Stifel Financial Corp., the parent company of Stifel, Nicolaus & Co., acquired public finance banking boutique De La Rosa & Co. The deal may catapult Stifel into a top-10 underwriting position in municipal bonds.

Two members of the California Assembly announced hearings starting Feb. 19 to close the $71 billion funding shortfall in the California State Teachers' Retirement System.

San Jose Mayor Chuck Reed and other proponents of the Pension Reform Act of 2014 say they will legally challenge Attorney General Kamala Harris's ballot summary language, likely delaying the measure.

The Internal Revenue Service is auditing $12.84 million of unlimited tax school building bonds issued in 2010 by the Anahuac Independent School District in Texas as part of an examination of small governmental bond issues.

Muni finance veteran Catherine Bando has been appointed as executive director of the California Statewide Communities Development Authority.

The city of Stockton, Calif. now has a new city manager, Kurt Wilson, to help guide it through the remainder of its bankruptcy process.

Moody's Investors Service has downgraded the issuer rating on Fresno, Calif. to Baa1, and about $300 million of related debt a notch further into junk territory.

The state of California has chosen San Jose and the Santa Clara Unified School District to purchase an 81-acre former mental institution property.

Oakland, Calif.-based KNN Public Finance, a division of Zions First National Bank, announced on Friday it has opened a Southern California office in Irvine with new hires Blake Boehm and Justin Rich.

Fitch Ratings upgraded Mendocino County, Calif.'s pension obligation bonds Series 2002 ratings to A from BBB-plus affecting $74.2 million in debt, and also boosted the implied general obligation rating two notches.

The Federal Reserve Bank of San Francisco appointed Gina Marie Lindsey, executive director of Los Angeles World Airports, to the board of its Los Angeles branch.

Gov. Jerry Brown's recent declaration of a statewide drought is a credit negative for local water agencies in California, according to Moody's Investors Service.

California Gov. Jerry Brown's proposed a redevelopment replacement in his new budget, but it falls short of what redevelopment advocates have been hoping for.

California Treasurer Bill Lockyer appointed Deana Carrillo to head the California Alternative Energy and Advanced Transportation Financing Authority.

The California Infrastructure and Economic Development Bank plans to price $97 million combined refunding/new money on Jan. 23 as part of its plans to ramp up lending.

Gov. Jerry Brown laid out his priorities for California in his State of the State Address on Wednesday.

Most California water agencies are well-positioned to withstand a typical drought, but a more severe, or longer-than-usual drought, could put pressure on ratings, according to rating agencies.

ABAG Finance Authority is selling $168 million of recently upgraded revenue bonds next week for a healthcare system in San Diego County.