California

The Los Angeles City Council approved a non-binding agreement last week with the developer of L.A. Live, a multi-use entertainment center, that will allow the developer to go ahead with its plans for a National Football League stadium.

LOS ANGELES - A state audit of the Los Angeles Community College District called into question more than $140 million in district spending funded by three general obligation bond measures approved by voters between 2001 and 2008.

Moody’s Investors Service revised its outlook to stable from positive Tuesday on the Los Angeles Department of Water and Power’s Aa2-rated water system revenue bonds.

Cost estimates for California’s proposed high-speed rail project are starting to come in higher than expected, according to local press reports.

Los Angeles International Airport reported a 5.4% increase in passenger levels during the first half of 2011, nearly double what officials had been projecting.

SAN FRANCISCO - California general fund revenues last month came in more than 10% below budget projections, raising the specter of deeper cuts to state spending.

SAN FRANCISCO - St. Mary's College of California said it disagrees with Moody's Investors Service's assessment of its finances after the rating agency put $69 million of variable-rate bonds on watch for a downgrade.

SAN FRANCISCO - A federal judge has cleared Vallejo, Calif., to emerge from bankruptcy after three rocky years of Chapter 9 protection.

LOS ANGELES - The Port of Oakland accelerated a planned bond refunding to Thursday as municipal market yields plummeted during the financial gyrations that followed Congress' last-minute action to lift the federal debt ceiling.

The San Jose City Council on Tuesday declined to put a tax measure on the November ballot amid potential lukewarm support, according to a published report.

The troubled city of Vernon has made important reforms but still needs to do more, according to a watchdog report on the city released this week.

The board of the San Diego Association of Governments voted July 29 to purchase the State Route 125 toll road lease for $345 million, contingent on the agency performing due diligence and after officials hold a public meeting.

DALLAS - With its first credit rating in hand, the Navajo Nation is preparing to finance a $200 million wind farm in a venture with Edison Mission Energy of Southern California.

SAN FRANCISCO - California school district bonds are back in the spotlight after an audit found poor oversight of school construction bond money awarded by the state.

The assessed value of all property in Los Angeles County increased for the first time in three years.

Legislation has been shelved in California that would have granted cities, counties, and school districts new taxing authority, according to press reports.

Los Angeles officials Monday offered a financing plan for a new football stadium downtown that includes $275 million of tax-exempt bonds.

California Gov. Jerry Brown signed legislation Monday that requires city officials to disclose their compensation for attending simultaneous or back-to-back meetings. The new law forces a clerk or member of the local legislative body to verbally announce the amount paid to the members.

The San Francisco Municipal Transportation Agency has hired a new head. Edward Reiskin will lead the agency after serving in the top spot at the city’s Department of Public Works.

SAN FRANCISCO - The California Treasurer's Office has admitted law firm Polsinelli Shughart PC into the state's bond counsel pool.