California

Billionaire Eli Broad's new contemporary art museum in Los Angeles will sell $150 million of bonds this week to help get it off the ground.

WALNUT CREEK, Calif. — California's largest conduit bond issuer and its private contractor are on the defensive after recent attacks on its roles both in and out of the state.

Sierra Kings Health Care District voters Tuesday overwhelmingly approved a proposed sale of the bankrupt hospital to Adventist Health.

Hercules voters recalled Tuesday the mayor and another council member in response to a political and budget mess.

Moody’s Investors Service has downgraded the San Joaquin Hills Transportation Corridor Agency’s rating to B1 from Ba2 after the agency completed a restructuring of its debt.

California Controller John Chiang has said he will withhold lawmakers’ salaries if they fail to pass a balanced budget by June 15.

Lawmakers in the California Senate have approved a bill that will allow counties to raise and collect vehicle license fees.

SAN FRANCISCO — Moody’s Investors Service downgraded the long-term underlying rating on the California Housing Finance Agency’s home mortgage revenue bonds to Baa1 from A3, affecting $5.7 billion of outstanding debt.

SAN FRANCISCO — Citi said in a report released Monday that long-dated capital appreciation bonds issued by California school districts offer an opportunity for investors despite concerns about education funding. The zero-coupon bonds are cheap when compared to current coupon securities, the firm said.

SAN FRANCISCO — Stockton may not exactly be the next Vallejo, but similarities between the two California cities have started people talking.

Standard & Poor’s this week said California may have trouble accessing the municipal market for its revenue anticipation notes without a balanced budget.

Dale Bonner, the former California secretary of business, transportation, and housing, has started a new firm to focus on public-private partnerships.

SAN FRANCISCO — A federal judge in California has ruled that the city of Alameda did not commit securities fraud in a deal with Nuveen Investments even if it may have intentionally misled bondholders.

SAN FRANCISCO — No redevelopment agencies? No problem.

SAN FRANCISCO — A California lawmaker has called for an audit of two of the state’s largest third-party bond issuers, citing concerns about transparency, conflicts of interest and public benefit.

SAN FRANCISCO — The Los Angeles County treasurer has fired a warning shot at bond attorneys, underwriters and advisers in a bid stop school bond practices that he says hurt taxpayers.

SAN FRANCISCO — California Gov. Jerry Brown’s plan to cut bond sales as part of his new budget will stretch an already tight market for the state’s debt.

SAN FRANCISCO — Southern California’s San Joaquin Hills toll road has gotten a green light from bondholders to restructure $2 billion of debt that helps avoid a default.

SACRAMENTO — California Gov. Jerry Brown released a revised budget Monday that dramatically reduces planned bond issuance as part of an effort to narrow overall state borrowing.

SAN FRANCISCO — As Gov. Jerry Brown readies the release of his second shot at a balanced budget next week, the California bond market has become hamstrung by the delay.