California

John Perez, Speaker of the California Assembly, and a candidate for State Controller, has received the endorsement of State Treasurer Bill Lockyer.

Angela Spaccia, former Bell, Calif. deputy city manager, was found guilty on 11 felony counts of defrauding the city of millions of dollars.

California revenues for the month of November came in below estimates, but year-to-date revenues are still positive, according to a report from State Controller John Chiang.

A bankruptcy judge's ruling in Detroit that pensions aren't a distinct class from other creditors could bolster movement in that direction in the San Bernardino bankruptcy.

California's recently proposed $25 billion water plan to restore the depleted Sacramento-San Joaquin Delta will include a mixture of state and federal funding, as well as several bond issues.

California's Department of Water Resources announced a five-year low for its water allocation rate, which is a credit negative for the state's water enterprises, according to Moody's Investors Service.

Los Angeles withdrew two requests for proposals seeking financial advisors that were the subject of a protest letter from Texas-based broker dealer and financial advisor FirstSouthwest, because underwriters were excluded from applying.

Foothill/Eastern Transportation Corridor Agency, Calif. is drawing a lot of interest from investors on $2.2 billion in toll revenue bonds it plans to price Dec. 12 to restructure its outstanding debt.

California water and sewer utilities have performed well in the past year, with the average agency rated AA, according to Fitch Ratings.

Moody's Investors Service downgraded Azusa, Calif.'s water revenue bonds to A2 from A3 citing the weak financial position of the city and impacting $54 million in debt.

Raymond James is continuing its public finance expansion in the West with the recent addition of Parker Colvin in San Francisco.

The Southern California Logistics Airport Authority of Victorville, Calif. defaulted for the fifth time on bonds issued to redevelop the airport from military to civilian use.

Nearly 20 mayors and vice mayors sent a letter to Mayor Chuck Reed, urging him to call off his 2014 statewide pension ballot initiative.

The Los Angeles County Metropolitan Transportation Authority will conduct a $452 million combination new money/refunding competitive sale Dec. 4 to pay for cost overruns on several projects.

With an enhanced bond structure, Morgan Hill, Calif., was able to restructure its tax allocation bonds last week at relatively low credit spreads compared to other successor agencies.

Detroit's proposed $350 million debtor-in-possession financing would mark the largest such deal in Chapter 9 history, but not the first: that honor goes to Orange County, Calif.

A $7 million financing for environmental upgrades at a Universal City, Calif. Hilton is expected to propel Los Angeles County's Property Assessed Clean Energy program forward.

The recent surplus forecast from the California Legislative Analyst's Office is a credit positive for the state, according to Moody's Investors Service.

Foothill/Eastern Transportation Corridor Agency in Orange County, Calif., will restructure its toll road debt portfolio with a $2.2 billion refunding in December.

A Los Angeles County joint powers authority will refund up to $200 million in redevelopment agency tax allocation revenue bonds as conduit issuer for seven successor agencies.