California

A series of atmospheric rivers and cyclone bomb storms in California have resulted in billions in damage. Lawmakers look to bond measures to help prevent future problems.

The oil companies had petitioned the justices to have climate change lawsuits brought by state and local governments heard in federal courts instead of state courts.

The 3.7% shortfall for the first nine months of the fiscal year was driven largely by shortfalls in personal income tax receipts.

The $7 billion portfolio consists of highly rated, lower-coupon muni debt. It is unlikely to be a single auction and the firm is currently circulating the list on the Street to gauge interest.

The proposed budget would add 400 more police officers and spend $1.3 billion on programs to ease homelessness.

The amount of time governments took to produce audited financials has increased by double-digits during an 11-year period.

Attorney General Rob Bonta faces criticism for restrictions that caused the collapse of a proposed buyout of a troubled Central Valley hospital.

The bill would allow information about the financial impact of ballot measures to be placed in the voter information guide, rather than on the ballot.

The Southern California Public Power Authority plans to price $700 million in revenue bonds for improvements to a 488-mile power transmission system.

Jean-Yves Fillion, CEO of BNP Paribas USA, talks with Chip Barnett about how the bank leverages its commitment to tennis to help the communities it serves and expand environment goals that help the planet. Taped live at the BNP Paribas 2023 Open in Indian Wells California. (11 minutes)

Eleven states from California to South Dakota will receive funding for 83 projects to improve water delivery systems, the Biden administration announced.

Outflows continued with the Investment Company Institute reporting investors pulled $128 million from mutual funds in the week ending March 29, after $693 million of outflows the previous week.

California filed a disclosure notice March 30 saying it would cover lease revenue bond payments for a damaged Central Valley agriculture lab.

Outside of economic data, "a light forward calendar is driving strong demand in the secondary market and with new issues, with some deals being significantly oversubscribed," SWBC's Roberto Roffo said.

Moody's Investors Service downgraded Providence St. Joseph Health a notch to A2, following similar moves by S&P Global Ratings and Fitch Ratings.

The Tulare lab is not required to make lease payments that pay the debt if the building is rendered inoperable.

"Folks are aware of possible pressure that could weigh on the market, but attitudes are still generally more constructive than negative at this time," says Tom Kozlik of HilltopSecurities. 

The Irvine Facilities Finance Authority will price $455 million in special tax bonds to develop the Great Park in the Orange County, California, city.

Massive transit projects have funding momentum, and traditional road and bridge projects are advancing as well despite political opposition and some shaky funding.

The City Council will vote Tuesday night on whether to approve bonds for the formerly stalled project.