California

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.

Palmdale, Calif. wants to gain control of its local airport from the city of Los Angeles.

A hearing is slated for Friday that could determine the fate of the planned $250 million expansion of the San Diego convention center, according to UT San Diego.

Moody's Investors Service assigned a Baa1 rating and gave a stable outlook ahead of plans by CFMA to price $44 million in revenue bonds for a South Los Angeles agency that works with disabled people.

Los Angeles voters rejected a sales tax increase, and sent Wendy Greuel and Eric Garcetti to a May 21 runoff for the mayor's race.

Moody's Investors Service warned in a report Thursday that a review it anticipates concluding in 90 days could lead to it withdrawing all of its ratings on tax allocation bonds issued by former California redevelopment agencies.

Standard & Poor's downgraded San Fernando, Calif. redevelopment agency bonds to junk-level BB-plus from BBB-plus and gave the bonds a negative outlook.

Stockton, Calif.'s effort to make bondholders take a $350 million hit during its bankruptcy process will likely blackball it from the bond market for years and raise future costs.

Voters on March 5 will select three new trustees for a seven-person Los Angeles Community College District board in a district that has been riddled with controversy.

Fitch Ratings downgraded the underlying ratings on $49 million of Placerville, Calif.'s Marshall Medical Center revenue bonds to junk because of weak finances.