California

COMPTON, Calif. — The Compton, Calif., mayor's allegations of fraud at city hall have at least temporarily halted the city's ability to get a line of credit to pay bills, according to officials.

When broker-dealers give money to California school bond campaigns, it appears to be money well spent.

Selling $74.3 million of electric system revenue bonds for Vernon, the scandal-ridden California city that narrowly avoided being disincorporated last year, would seem to be an uphill battle.

The Los Angeles City Council has decided to walk away from the city's redevelopment agency, saying it would be too costly to take control of.

The California Senate Transportation and Housing Committee on Tuesday unanimously approved SB 447, which would prohibit the California Housing Finance Agency from foreclosing on borrowers who are renting their homes out and are current on their mortgages

The San Diego Chargers announced in a joint statement with San Diego’s mayor on Monday that they would be staying in the city for another season.

California Controller John Chiang said December revenues came in $165 million below the projections in the governor’s proposed fiscal 2013 budget.

Republican lawmakers in California have introduced a bill that would block the state from selling bonds for a planned high-speed rail system.

California’s nonpartisan Legislative Analyst’s Office said in a report Wednesday that revenue estimates are a bigger “question mark” than usual in Gov. Jerry Brown’s proposed fiscal 2013 budget.

LOS ANGELES — The superintendent of Sweetwater Union High School District in San Diego County has suspended all activity by Seville Group Inc., the program and construction management firm overseeing the district's $644 million Proposition O bond program.

California Gov. Jerry Brown's new budget proposes about $5 billion of general obligation bond sales this year, an increase of 18% from last year, when the state borrowed relatively little.

California Gov. Jerry Brown announced a $92.5 billion fiscal 2013 budget Thursday that tackles a projected deficit of $9.2 billion with taxes and cuts.

The California Supreme Court rang the death knell for the state's redevelopment agencies, sparking questions about how their existing obligations will be met.

Costa Mesa, Calif., made national headlines in March with plans to lay off half of its public workers, but officials are hitting roadblocks as they try to implement the plan.

Standard & Poor’s downgraded its underlying rating on the Oxnard Financing Authority’s wastewater revenue bonds four notches to BBB from A-plus. The Dec. 29 action affects $138.9 million of outstanding debt secured by net revenues of Oxnard’s wastewater system.

Standard & Poor’s last Thursday lowered its long-term and underlying rating on two series of Alameda Corridor Transportation Authority bonds just two weeks after Fitch Ratings affirmed the agency’s ratings.

Past missteps by the Los Angeles Department of Water and Power continue to haunt the agency as it tries to push forward on a five-year, $6.1 billion capital plan needed to replace aging infrastructure and meet state and federal environmental mandates.

The U.S. Department of Housing and Urban Development has launched an investigation into the Los Angeles Housing Authority, according to published reports.

The San Diego Association of Governments approved the $345 million purchase of a bankrupt toll road from a private operator at its Dec. 16 board meeting.

The rating on $481.6 million of general obligation bonds issued by Palomar Pomerado Health was dropped one notch to A-plus on Dec. 23.