The California Statewide Communities Development Authority board Wednesday named a five-member underwriting team for its forthcoming securitization of tax revenue California plans to borrow from local governments.

Goldman, Sachs & Co., JPMorgan, and Morgan Stanley were named senior managers for the Proposition 1A Securitization program, which is named after the 2004 ballot measure that limited the state's ability to borrow from local governments and set the ground rules for the times when the state does borrow.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.