California

LOS ANGELES — Fitch Ratings analysts said Tuesday that while a decision by the California Public Employees' Retirement System to lower its earnings forecast to 7.5% from 7.75% is positive for local government credit quality in the long term, it means added near-term budgetary pressure for struggling municipalities.

SAN FRANCISCO — Two conduit bond issuers run by private firms appear to be the only entities out of thousands of government agencies in California that do not have to disclose any employee salaries.

LOS ANGELES — The Los Angeles Department of Water and Power is going to restart the public hearing process on rate increases proposed last year to pay for a five-year, $6.1 billion capital plan the agency says it needs to replace aging infrastructure and meet state and federal environmental mandates.

California Controller John Chiang has ordered an investigation into Stockton's finances following the city's admission of accounting mistakes.

SAN FRANCISCO —The projected price tag for California's planned high-speed rail system between San Francisco and Los Angeles has been cut by a third.

LOS ANGELES — Los Angeles will be borrowing, but there won't be much new money for new projects in the near future.

SAN FRANCISCO — California Treasurer Bill Lockyer is sending another legislative broadside at conduit issuers run by private companies.

Fitch Ratings on Wednesday affirmed the AAA/V1 fund credit and volatility ratings assigned to the Los Angeles Community Redevelopment Agency’s investment portfolio.

The draft environmental impact report for Anschutz Entertainment Group’s proposed downtown Los Angeles football stadium will be released April 5, according to published reports.

LOS ANGELES — Los Angeles officials hope to capture a combined $36 million in savings through two refundings they have planned in April.

SAN FRANCISCO — San Jose officials said Monday's downgrade of its lease revenue bonds by Moody's Investors Service will cost the city more than $350,000 a year.

California last year slipped to second place from its long-standing throne as the largest issuer in the country. And for good reason: it's trying to get its fiscal house in order.

LOS ANGELES — After six years laying groundwork, a project to construct a new $715 million Otay Mesa Port of Entry and a connecting highway at the Mexican border in San Diego appears to be moving forward.

Three bills are moving through the California Legislature that attempt to clean up the process of unwinding the state's redevelopment agencies.

Analysts are still weighing the impact a decision by the California Public Employees' Retirement System to lower its investment assumptions will have on local governments.

SAN FRANCISCO — Stockton, Calif., said it will negotiate with 18 creditors that have interests above $5 million during mediation meant to help the city restructure its debts to avoid bankruptcy.

A missed deadline has put a crimp in Costa Mesa, Calif.’s plans to ask voters to amend the city charter so it can legally lay off employees and outsource services.

Los Angeles could have saved $700,000 on commodity purchases made in 2010 if it had made better spending decisions, according to a report from the city controller’s office.

A coalition has launched a bid to force Sacramento leaders to put the city’s $250 million commitment to a new National Basketball Association arena on the ballot.

LOS ANGELES — The Los Angeles County Metropolitan Transportation Authority on Monday released the final environmental impact report for the nine-mile Westside Subway extension project estimated to cost between $5.6 billion and $6.2 billion.