California

A Los Angeles County jury deliberated 18 days before finding five of six former Bell officials guilty on charges of mismanaging funds and collecting exorbitant salaries.

Attorneys say resolution may be near for the Ritter Ranch community facilities district in Palmdale, Calif. after 23 years of trouble, including bankruptcies of the developer and Lehman Brothers.

Fewer than half of likely California voters favor current plans for construction of a bullet train system or support an $11 billion water bond slated for the 2014 ballot, according to a public opinion poll.

Appeals are likely after a Superior Court judge ruled last week that a San Diego hotel room tax to finance the $520 million planned expansion of San Diego¹s convention center is legal.

Stockton and its bond market creditors will battle over whether the city should be allowed to enter bankruptcy protection during a four-day trial next week.

The California High-Speed Rail Authority authorized the eventual sale of $8.6 billion of bonds to fund the first stage of a 500-mile bullet train system.

Bell, the working class Los Angeles-area city that achieved national notoriety in 2010 for the outrageous salaries of city leaders, recently scored high marks for transparency.

California Treasurer Bill Lockyer sent a letter Monday to state Attorney General Kamala Harris asking if it is legal for bond underwriters to provide election services to school districts.

California's revenues in February came in $322 million below projections in Gov. Jerry Brown¹s budget after rising around $5 billion a month earlier, according to the Department of Finance.

While Central Falls, RI, and Pittsburgh see light at the end of their tunnels, other tales of municipal distress from Harrisburg to California are much messier.

Simultaneous announcements that Los Angeles-based Anschutz Entertainment Group is no longer for sale and the resignation of president and chief executive Tim Leiweke fueled speculation about the future of a professional football stadium proposed for downtown Los Angeles by the firm.

The Los Angeles City Council approved plans for a downtown street car last Wednesday that include up to $352 million over 30 years for operations costs, according to news reports.

Moody's Investors Service downgraded to A2 from Aa2 the rating on $145.9 million in certificates of participation issued by Antelope Valley, Calif.-East Kern Water Agency.

Fitch Ratings and Moody's Investors Service both gave a double-A ratings to a $75.4 million planned March 18 sale by the California State Public Works board for University of California Santa Barbara.

Stockton, Calif., which is battling with creditors over its attempt to enter Chapter 9 bankruptcy protection, received $1 million from the Federal Emergency Management Agency to buy two new fire engines.

San Bernardino, Calif., is the latest city to receive a letter from the state government demanding it hand over redevelopment funds but threatens to fight back in bankruptcy court.

California heads to Wall Street this week to borrow for the first time since the most-populous state earned a credit-rating boost in January, as buyers push its debt close to the strongest in more than four years.

California Controller John Chiang said February revenues came in almost on track with estimates in Gov. Jerry Brown¹s proposed budget.

Los Angeles Department of Power estimates it will need to issue bonds for two-thirds of the projected $1.8 billion a year in capital improvements needed for both its power and water systems.

City employees in insolvent San Bernardino, Calif. are receiving nearly $1 million in pay raises despite the city's shaky financial situation.