California

Riverside Mayor Ron Loveridge was elected president of the National League of Cities Saturday.

San Francisco Controller Benjamin Rosenfield this week said that the city faces a general fund deficit of $53 million in fiscal 2009-10.

SAN FRANCISCO — ­California is facing a $6.3 billion deficit for the current fiscal year, as well as a $14.4 billion gap in the next one, according to a report the state’s Legislative Analyst’s Office released yesterday.

SAN FRANCISCO — Oakland, California’s eighth-most populous city, may have to sell its convention center or securitize its parking revenues to close a projected $44.3 million general fund deficit over the next two years.

The Indian Wells, Calif., Redevelopment Agency disclosed late Tuesday that the Internal Revenue Service has initiated an audit of $68 million of tax-allocation bonds it competitively sold in 2006.

SAN FRANCISCO — The Sacramento Municipal Utility District has joined the ranks of public agencies filing civil lawsuits alleging a bid-rigging conspiracy in the municipal derivatives market.

SAN FRANCISCO — The Los Angeles Department of Water and Power will bring its first Build America Bonds to market as part of a $500 million deal next week.

A developer of cow manure-to-natural gas facilities financed by tax-exempt debt is continuing to negotiate with bondholders as it attempts to keep its business afloat, according to a news release announcing its third-quarter results.

A bankruptcy judge in Santa Rosa gave final approval Friday to a liquidation plan for the assets of Copia, the failed tax-exempt bond financed nonprofit wine museum in the city of Napa.

The Metropolitan Water District of Southern California this week approved a $350 million subsidy that backers said is crucial to financing the state’s first large-scale desalination plant, which will be located in Carlsbad.

SAN FRANCISCO — California Controller John Chiang delivered a rare piece of good news this week in his monthly general fund cash report, saying the state beat its budget ­estimates for October.

SAN FRANCISCO — San Diego Mayor Jerry Sanders has entered negotiations with the San Diego Chargers in hopes of reaching a stadium deal that would keep the National Football League team in the city.

SAN FRANCISCO — The next storm in an ongoing blizzard of California state paper comes Tuesday, when the California Statewide Communities Development Authority will price a deficit-­driven deal in the $1.5 billion range.

SAN FRANCISCO — Poseidon Resources is seeking a $530 million private-activity bond cap allocation from the California Debt Limit Allocation Committee this month in a bid to build the West Coast’s first large-scale desalination plant.

Standard & Poor’s upgraded its underlying rating on the Santa Paula Union High School District in Ventura County to AA-minus from A ahead of an $8 million general obligation sale.

Voters in bankrupt Vallejo reauthorized the city’s utility user tax, saving $5.2 million of revenue for the city’s $75 million general fund.

The Bay Area Toll Authority this week began public hearings on proposed toll increases on seven state-owned toll bridges in the San Francisco Bay Area.

California Gov. Arnold Schwarzenegger will have an opportunity to nominate a new lieutenant governor, as the current officeholder, John Garamendi, won a special election Tuesday for the U.S. House.

Moody’s Investors Service Tuesday issued one-notch downgrades to bonds issued by Palomar Pomerado Health, a hospital district in San Diego County.

SAN FRANCISCO — After a session that lasted until 6:00 yesterday morning, California lawmakers signed a massive water infrastructure package that includes an $11.1 billion general obligation bond measure.