California

California Treasurer Bill Lockyer gave a thumbs-up to Democrats for cutting back the state's structural deficit, saying it would encourage Wall Street and give him better leverage to borrow.

California Controller John Chiang Monday said revenues came in $351 million less in June and May than anticipated in the newly adopted state budget.

LOS ANGELES - A bill moving through the California Legislature would lower the state's short-term borrowing costs with the help of a $1.7 billion cushion from its two public university systems.

LOS ANGELES - Moody's Investors Service Tuesday downgraded Los Angeles' general obligation bonds one notch to Aa3 from Aa2, affecting $3.3 billion of outstanding debt.

SAN FRANCISCO — Standard & Poor's changed California's outlook to stable from negative Thursday, saying the state's cash flow appears unobstructed by its newly adopted budget.

SAN FRANCISCO — California Controller John Chiang's legislative push to increase oversight of local government finances in the wake of a scandal in the city of Bell has stalled in the face of political blowback.

San Diego's redevelopment agencies face a loss of around $70 million this year and $16.5 million annually because of the budget past last week, according to local press reports.

A California bill that would contribute to the disincorporation of the controversial city of Vernon in Los Angeles County advanced Wednesday.

Legislation that would make it harder for California municipalities to file for bankruptcy stalled in committee Wednesday.

California Treasurer Bill Lockyer has waded into the issue of tax compliance by conduit tax-exempt bond issuers.

SAN FRANCISCO - The law firm Polsinelli Shughart has acquired ­Quateman LLP, California's biggest women-owned municipal bond counsel firm.

Chowchilla has made its full June interest payment on its lease revenue bonds after previously defaulting and using up its reserve fund.

California Gov. Jerry Brown signed two bills tied to the budget Wednesday that will effectively eliminate most redevelopment agencies, sparking a legal battle.

SAN FRANCISCO - California lawmakers on Tuesday prepared to pass a budget with the governor's blessing, one that appears to avoid major structural changes but relies instead on a rosy revenue outlook.

SAN FRANCISCO - Moody's Investors Service downgraded Stockton, Calif., two notches Tuesday to A3 from A1 because of its ongoing financial problems.

SAN FRANCISCO — San Francisco International Airport will sell $323 million of debt this week to refund outstanding revenue bonds in a revival of a deal it had shelved last year.

SAN FRANCISCO - California lawmakers have placed the state's local redevelopment agencies on death's doorstep, but there may be a bigger problem looming.

San Jose Mayor Chuck Reed has delayed seeking the City Council's approval to declare a fiscal emergency and for a fall ballot measure for fiscal and pension reform.

California Controller John Chiang said lawmakers will lose pay until a balanced budget is passed because the budget approved by the Legislature last week and then vetoed by Gov. Jerry Brown was incomplete and unbalanced.

Standard & Poor's said Tuesday that California's ratings are at a "crossroad" because of the politics and potential impact of a budget impasse.