State of California

There are times when there is no better alternative to a tax increase.

Bank of America Merrill Lynch used a big second quarter to overtake Citi at the top of the municipal league tables, while Morgan Stanley, RBC Capital Markets and Goldman Sachs moved up in the first half rankings.

A series of high-profile cases may endanger California’s “vested rights” doctrine.

California lawmakers have approved a plan to borrow up to $6 billion to prepay pension obligations.

Laura Whittall-Scherfee will direct a California agency that finances affordable housing.

California lawmakers approved a $183.2 billion all-funds budget package.

California lawmakers reached an agreement Tuesday on the most contentious budget items.

California revenues beat state budget projections in May.

California Gov. Jerry Brown's plan to use a short-term state investment account to fund CalPERS faces some skeptics.

Municipal bonds turned stronger with U.S. Treasuries on a mixed employment report for May.

Transportation Secretary Chao has agreed to approve funding agreement for Caltrain.

California school districts are still waiting for the windfall from November's bond elections.

California's state controller wants a new governance policy for the state Board of Equalization.

California Gov. Jerry Brown proposed using money from an investment fund to pre-pay CalPERS.

A plan to fully fund the California State Teachers’ Retirement System will be tough for some districts.

Transportation Secretary Elaine Chao continues to block federal funds for a California rail project.

Wells Fargo dropped to eighth place among municipal underwriters, hurt by last year's phony accounts scandal. Citi maintained its lead in the ranking.