City of Los Angeles, CA

The twin ports of Southern California, in Long Beach and Los Angeles, both reported record numbers this fall.

The $6.8 million, three-year agreement with IBM includes hardware, software and services to design, install, operate and maintain a cyber center that will connect all the port's users to the system.

City Administrative Officer Richard Llewellyn recommended laying off nearly 1,000 police officers in a 144-page budget report.

Jeanne Holm, appointed by Mayor Eric Garcetti, will help guide the city government through its worst financial crisis in a decade.

City leaders are evaluating layoffs, raise deferrals, leasing city assets and postponing construction projects.

Several California cities are cutting police budgets, and shifting non-violent 911 calls to mental health workers.

Municipals showed strength Tuesday in the face of new supply as long yields dipped as much as two basis points.

Yields have essentially remained flat since mid-June as the market has digested new issues well and investors are starved for paper, especially tax-exempts.

Protecting the tax-exempt status of municipal bonds and reviving Build America Bonds are priorities for the New Partnership on Infrastructure.

Mayor Eric Garcetti declared a state of fiscal emergency when he delivered his budget proposal for fiscal 2021.