California

Santa Clara, Calif., is considering using one of the largest public subsidies ever to help finance a $1.02 billion stadium for the National Football League's San Francisco 49ers.

The San Diego City Council supported a resolution Tuesday to take the next step in forming a special taxing district to pay for a $575 million plan that would expand the city’s convention center.

The Los Angeles City Council’s Budget and Finance Committee tabled action until Jan. 23 on a responsible banking ordinance until it can work out additional details.

Three California taxpayer associations have filed a ballot initiative to cap state spending.

The San Jose City Council Tuesday moved a step closer to a pension reform ballot measure.

The Inland Valley Development Agency in California disclosed that it and the San Bernardino International Airport Authority are being investigated by the Federal Bureau of Investigation.

California Gov. Jerry Brown unveiled a ballot initiative to temporarily raise the top income tax rate on individuals to as much as 12.3% - making it the highest in the country - as part of an effort to raise nearly $7 billion annually.

LOS ANGELES — An unexpected spike in California job creation numbers has the UCLA Anderson Forecast's economists speculating that the state may have turned a corner on its economic malaise.

California's Golden State Tobacco Securitization Corp. has been forced to draw $12 million out of its reserves to make its Dec. 1 interest payment.

LOS ANGELES — Downey Regional Medical Center, a non-profit hospital located in greater Los Angeles, is close to reaching an agreement with Avanti Health Systems LLC that would enable it to exit Chapter 11 bankruptcy and make its bondholders whole.

SAN FRANCISCO — Moody's Investors Service warned Monday that California's expected mid-year budget cuts could result in further school district downgrades.

Staff of the California Health Facilities Financing Authority recommended approving a plan to issue $275 million of bonds on behalf of San Diego-based Scripps Health.

Fitch Ratings assigned a AA-minus rating Wednesday to a planned $355 million bond issuance on behalf of Sacramento-based Sutter Health, which owns, leases and-or operates 31 hospitals.

California Gov. Jerry Brown announced he has appointed Paul Rosenstiel to the California State Teachers' Retirement System Board.

The California Legislative Analyst's Office said in a report Tuesday that the funding for the first stage of the state's high-speed system is highly uncertain.

SAN FRANCISCO — A new report from the California Debt and Investment Advisory Commission found that more than one in four issuers in the state failed to file their annual financial reports on time.

LOS ANGELES — Though the San Diego Association of Governments has encountered a few wrinkles during due diligence, the agency is on track in its proposed $345 million purchase of a bankrupt toll road from a private operator.

The Southern California Logistics Airport Authority is facing a bond default because it cannot make a $10 million debt service payment due Thursday because of the legal uncertainty surrounding California redevelopment agencies.

LOS ANGELES - A 16-member California committee led by three billionaires and high-profile former politicians plans to put on the November 2012 ballot two initiatives proposing tax reform that would result in $10 billion of additional annual tax revenue.

SAN FRANCISCO - Standard & Poor's downgraded the San Jose Redevelopment Agency's non-housing tax-allocation bonds to BBB from BBB-plus due to financial and legal stress.