California

A lawsuit by Caldwell Flores Winters, Inc. for breach of contract and the resulting counter-complaint by small, rural Willits United School District, Calif. spotlights controversial practices critics see in California school district bond sales.

The California Health Facilities Financing Authority approved on Tuesday the sale of $1.9 billion of bonds to help Kaiser Foundation build six new hospitals, expand a current one, and construct a specialty medical office.

The Council of Development Finance Agencies and the California Association for Local Economic Development said in a statement Thursday the goal of the new group will be to bring new resources, tools and partners to help grow local economic development in the state.

The beleaguered Orange County Transportation Authority garnered another round of criticism recently — this time from a San Francisco nonprofit recommending that the tollway agency postpone an extension to its toll road until state authorities can review the operation.

All 42 voters in Vernon, Calif. turned out to support an election to decide three tax measures city leaders say is needed to close an $8 million budget gap, according to a Los Angeles Times report.

An ongoing feud between San Diego Mayor Bob Filner and the city's hotel owners over the release of tourism marketing funds resumed Tuesday — little more than a week after an agreement was reached, according to a report from the Voice of San Diego.

State Controller John Chiang said Wednesday that state revenues in March came in $395 million, or 7.2%, above estimates in the governor's proposed budget.

Standard & Poor's said in a report Monday that Stockton's eligibility for bankruptcy will likely have an impact on local governments in distress.

The commercial property side of Property Assessed Clean Energy has drawn so much interest that market watchers think in a few years enough volume could exist in California to start bundling the currently privately-placed bonds to sell in the public market.

The National Federation of Municipal Analysts said Wednesday they have filed an amicus curiae brief in California Superior Court in support of a lawsuit filed by insurer Syncora Guarantee over laws extinguishing redevelopment agencies in the state.

San Bernardino plans to resume payments to the California Public Employees' Retirement System on July 1, but it's unlikely it will be able to repay missed payments, said Mayor Pat Morris.

L.A. city committee wants alternatives to support convention center expansion if an NFL football stadium proposal falls short.

Speakers at a California League of Cities meeting held Thursday night in Monterey Park differed vastly in their opinions on the threat pension liabilities pose to local governments.

Now the question is how long will it take Stockton to exit bankruptcy? And how will Stockton reorganize its debts to put the city on a path to fiscal stability?

Finance officials for San Bernardino, the southern California city going through bankruptcy proceedings, plan to present a balanced budget that includes future payments to CalPERSg.

Katherine Perez-Estolano, considered an expert in transportation and land-use planning, was appointed by California Gov. Jerry Brown to the California High-Speed Rail Authority's Board.

California Pollution Control Financing Authority is extending a program designed so that small businesses can save money if they use bonds to purchase equipment.

Moody's downgraded Sacramento County's pension obligation bonds to Baa1 from A3 but affirmed the county's A2 issuer rating.

California said it will hold its second spring sale of $2 billion of general obligation bonds next week.

San Bernardino, Calif., in bankruptcy proceedings, has hired Orange County-based Urban Futures on a contract basis in lieu of hiring a finance director and filling other vacant finance department positions.