California

LOS ANGELES - The University of California, Los Angeles, plans to build a $152 million on-campus hotel and conference center to be funded by a $40 million donation and $112 million of bonds.

BRADENTON, Fla. - Memphis-based Morgan Keegan & Co. has hired Rob Larkins as a managing director to head up the firm's new public finance office in San Francisco.

SAN FRANCISCO - The San Jose Redevelopment Agency has received an extension on letters of credit from JPMorgan on $95 million of variable-rate debt, avoiding the threat of a default this month.

SAN FRANCISCO - California's plan for a bond-funded high-speed train system just got more expensive. Fifty billion dollars more expensive.

Standard & Poor’s Monday lowered its rating on the San Diego Unified School District’s general obligation bonds to AA-minus from AA and gave the district a negative outlook.

A San Diego taxpayers’ watchdog group released a report Tuesday that says the Southern California Metropolitan Water District has accumulated more than $600 million in unfunded liability for retirees since 1999, according to published reports.

Santa Monica planned to sell $41 million of lease-revenue bonds this week to fund renovations of a parking garage to serve the city’s downtown shopping area and to refund existing bonds.

Adventist Health closed a deal Monday to take over the formerly bankrupt Sierra Kings Heath Care District’s Central California clinics and hospital.

Vallejo officially exited from Chapter 9 bankruptcy protection on Tuesday after finally satisfying the conditions of its plan that was approved in early August by a bankruptcy judge.

LOS ANGELES - The California Housing Finance Agency has agreed to temporarily stop foreclosing on homeowners who are renting their homes out and are current on their mortgages.

SAN FRANCISCO - California Gov. Jerry Brown unveiled a pension reform plan Thursday that would affect both current and new workers in state and local government in an effort to control rising costs.

LOS ANGELES - Afraid of jeopardizing its tax-exempt bond status, the California Housing Finance Agency has been foreclosing on homeowners who are renting out homes financed by the agency - even if they are current on their mortgages, according to a report by the state Senate Office of Oversight and Outcomes.

Fitch Ratings downgraded more than $370 million of debt issued for Eisenhower Medical Center to BBB from A-minus.

San Diego-based Rady Children’s Hospital received an A-plus from Fitch Ratings on $150 million of bonds to be sold through negotiation the week of Nov. 7.

San Jose is weighing a parcel tax to help cover a $1 billion bill to upgrade streets over the next decade, according to a published report.

Montebello will move ahead on a note issue despite claims earlier this month that an ill-timed release of a report from the California controller’s office jeopardized its efforts to sell short-term notes.

SAN FRANCISCO - California Gov. Jerry Brown will unveil his pension reform plan Thursday, sparking a renewed debate on the state's employee retirement liabilities.

SAN FRANCISCO - Some California redevelopment agency bonds with poor backstops will face credit stress if legislation to disband the agencies or force large payouts is upheld in court, according to Standard & Poor's.

SAN FRANCISCO - Stockton, Calif., is facing the rising specter of a technical default on its redevelopment agency debt, as it will likely have to dip into reserves to pay debt service for $87 million of outstanding bonds.

The Los Angeles City Council is finding that compiling a list of banks to boycott isn't as simple as it sounds.