California

Newly empowered with supermajorities in both houses of the Legislature, some California Democrats have introduced legislation that would increase borrowing and make taxing easier.

Los Angeles World Airports and Los Angeles Metropolitan Transportation Authority have overcome their differences and are working on a plan to connect light rail to the airport.

Bonds sold by Santa Cruz County's redevelopment agency could still be downgraded because of a dispute with the California Department of Finance over redevelopment revenue, according to Fitch Ratings.

California revenues in November were $840 million below the forecast in the state's budget mainly due to lower tax collections from Facebook's initial public offering, according to the Department of Finance.

Holders of bankrupt American Airlines' New York City airport debt are weighing a settlement offer that would pave the way for the carrier to assume its lease at John F. Kennedy International Airport.

An oversight panel chaired by California treasurer Bill Lockyer is analyzing the bond debt of the San Joaquin Hills Transportation Corridor Agency and the Foothill/Eastern Transportation Corridor Agency to determine if they can take on more debt to fund a planned extension.

The California Public Employees' Retirement System filed a motion requesting a hearing, scheduled Friday, to determine San Bernardino's Chapter 9 bankruptcy eligibility be postponed.

Bond market creditors filed final legal challenges on Friday to Stockton, Calif.'s petition for bankruptcy protection, laying the groundwork for a potentially precedent-setting legal battle.

The Los Angeles County Metropolitan Transportation Authority is at the forefront of a nationwide push to create a new tax-credit bond program for transportation investment.

The Poseidon Resources seawater desalination plant project experienced many delays, but the market for its BBB-minus project financing looks good now that Poseidon is ready to sell $781 million in bonds.

Union leaders are asking Los Angeles mayoral candidates if they might be willing to get rid of Chief Administrative Officer Miguel Santana, who has urged the city to keep its budget in balance.

Los Angeles Mayor Antonio Villaraigosa signed a 25-year agreement with the Moapa Band of Paiute Indians in Nevada for a solar energy project.

A California lawmaker introduced a bill this month that would put a state school construction bond proposition on a ballot in 2014.

Bondholders impacted by the San Bernardino bankruptcy are fighting an attempt by the California Public Employees' Retirement System to be given precedence over other creditors.

Moody's Investors Service cut Fresno, Calif.'s sewer revenue bonds one notch to A1 from Aa3 because of the city's financial problems.

California November tax revenues in November were more than 10% below budget estimates partly due to lower than expected collections from Facebook share sales, according to Controller John Chiang.

The recently appointed administrator of an insolvent Southern California school district, resigned after state officials learned he overstepped his authority by making tentative agreements with the teacher's union.

Rialto, Calif. will turn over its water and sewer utilities to a public-private partnership in a deal that will see the municipal debt associated with those deals retired.

In response to a spate of municipal bankruptcies and ongoing fiscal challenges at the local level, the California Treasurer's office has embarked on a project aimed at predicting cities' likelihood of defaulting on bonds.

California's state and local fiscal policies and the impact on credit ratings came under fire during a UCLA Anderson Forecast presentation Tuesday on the college campus.