California

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.

The California Supreme Court refused to hear an appeal from Costa Mesa, Calif. officials in a union lawsuit challenging the city's plan to outsource city jobs.

Voters approved a measure creating an assessment district in downtown Los Angeles to build a streetcar line at a cost of $125 million.

Two California lawmakers have proposed constitutional amendments to lower voter thresholds for local tax and bond measures.

California's finances are improving in the wake of two revenue-generating ballot propositions passed last month, and more fiscal reforms would be "viewed positively," according to Fitch Ratings.

If CalPERS prevails in having courts define San Bernardino's obligations to the pension fund as immutable in the city's bankruptcy, ramifications could include sweeping bond downgrades, a report said.

San Bernardino filed documents Friday in U.S. Bankruptcy Court in Riverside, Calif. defending its eligibility to receive bankruptcy protection from creditors.

California¹s cash flow has improved enough to allow to the state to release more funds than it planned to schools, local governments and other programs.

The San Diego County Water Authority's board of directors approved a $3 billion water purchase agreement with Stamford, Conn.-based Poseidon Resources that will allow a Carlsbad seawater desalination plant to move forward.

Dinuba, Calif., will be the first municipality to issue refunding bonds for debt issued by a redevelopment agency in the state since they were dissolved last year.

Los Angeles World Airports' success in managing a multi-billion dollar expansion project is likely to be parlayed into a receptive environment for its $269 million bond pricing next Wednesday.

The Bay Area Toll Authority, Calif.’s $5.3 billion of senior bonds kept their Aa3 rating from Moody’s Investors Service.

After nearly a decade of court battles brought by environmental advocates, the fate of Poseidon Resource's proposed Carlsbad, Calif. desalination plant will be decided Thursday when the San Diego County Water Authority board votes on a $3 billion water purchase agreement.