California

ALAMEDA, Calif. — The San Francisco Public Utilities Commission this week will bring its wastewater credit to the market for the first time in seven years.

ALAMEDA, Calif. — Gov. Arnold Schwarzenegger has correctly identified the scope of California’s $17.9 billion budget deficit, according to the state’s independent Legislative Analyst’s Office, which disagreed with some of his proposed solutions in a report released Tuesday.

ALAMEDA, Calif. — California’s Bay Area Toll Authority will hit the market next month with a hefty Build America Bond deal.

A group of 11 California issuers are charging that an affiliate of Goldman Sachs & Co., J Aron & Co., is pressuring a member of the group to remove Goldman as a defendant in its civil suit charging that 36 Wall Street and other firms participated in a vast bid-rigging conspiracy for municipal swaps and investment agreements.

ALAMEDA, Calif. — California Gov. Arnold Schwarzenegger delivered his May budget proposal Friday afternoon, addressing a $17.9 billion deficit by proposing wholesale elimination of key social welfare programs, with no tax increases.

ALAMEDA, Calif. — What’s that sound you hear? Probably California’s budget problems hitting the fan again.

ALAMEDA, Calif. — A California appeals court has denied a bid by redevelopment advocates for a temporary stay to block implementation of a recent court ruling that allows the state to shift more than $2 billion from local redevelopment agencies to help balance the state budget.

ALAMEDA, Calif. — Seeing an environment favorable to smaller firms, San Francisco-based Nollenberger Capital Partners Inc. last week announced the hiring of two California municipal market veterans in what the firm described as a “re-launch” of its public finance unit.

ALAMEDA, Calif. — California’s plans for a bond-financed high-speed passenger train system are in critics’ crosshairs following the release last week of a critical report by the state ­auditor.

ALAMEDA, Calif. — California Treasurer Bill Lockyer has sent another round of questions to six large investment banks about their involvement in credit default swaps linked to California bonds.

ALAMEDA, Calif. — A Superior Court judge in California Tuesday upheld the state government’s shift of $2.05 billion away from local redevelopment agencies to help balance the budget.

ALAMEDA, Calif. — The tight supply situation in the primary tax-exempt bond market will get a $2 billion boost from one issuer next week when the California Department of Water Resources prices power supply revenue bonds.

WASHINGTON — A federal judge in Manhattan has ruled that a group of 11 California localities, including Los Angeles, may go forward with their civil cases against Goldman, Sachs & Co., Citigroup, and several other high-profile firms because they may have participated in an alleged conspiracy to rig bids for municipal investment contracts and derivatives.

California’s general obligation bonds have caught fire since Moody’s Investors Service and Fitch Ratings slapped higher ratings on the state’s credit earlier this month.

SAN FRANCISCO — The Los Angeles County Metropolitan Transportation Authority unanimously voted to endorse Los Angeles Mayor Antonio Villaraigosa’s proposal to accelerate the region’s mass-transit capital plan.

SAN FRANCISCO — California’s big underwriters make markets in credit default swaps on the biggest municipal issuer’s general obligation bonds, but they don’t seem to be betting against the state.

SAN FRANCISCO — Los Angeles Mayor Antonio Villaraigosa proposed a $4.34 billion fiscal 2010-11 general fund budget that would cut spending by 2.2% to rein in the deficit and rebuild reserves amid continued declines in most major tax revenue.

SAN FRANCISCO — Fitch Ratings downgraded $3.4 billion of Los Angeles debt because policymakers in the second-biggest U.S. city have failed to balance its budget and plan to drain its reserves.

SAN FRANCISCO — The Los Angeles Department of Water and Power’s board approved an electricity rate increase, accepting a smaller-than-requested hike to end a standoff with the Los Angeles City Council.

SAN FRANCISCO — San Diego Mayor Jerry Sanders proposed a $1.1 billion fiscal 2011 general fund budget that would close a $28.2 million deficit.