Search

Discloses that Los Angeles County is launching the first lease-backed commercial paper program undertaken by a California county. Use of proceeds of the issuance to refund existing bond anticipation notes; Growing interest of municipal governments in commercial paper; Unique features of the Los Angeles County program.

Focuses on United States-based local governments' plan to take legal action over investments in defaulted commercial paper sold by California-based utility Pacific Gas & Electric Co. State of Tennessee's struggle to close its fiscal 2001 budget gap; Fountain Hill, Arizona officials' outrage over an investment made for the city by BNY Western Trust Co.

Focuses on the plan of San Francisco Public Utilities Commission's finance officials to use a commercial paper program to jump-start most of $304 million of water bonds authorized by voters on November 4, 1997. Preparations made for a request for qualifications from financial advisers to structure the program; Outlook for the program; Outcome of a study on the backlog of unfunded capital projects in the city.

Reports on the plan of California to sell tax-exempt commercial paper in two tranches in January 2004. Purpose of the sale of commercial paper; Views of executives from rating agencies in the U.S. regarding the status of California; Number of projects that will benefit from the sale of the commercial paper.

Stanford University will become California's first private institution of higher education to sell tax-exempt commercial paper revenue notes after a 150 million dollar negotiated deal on March 25, 2003. Once the conduit issuer, the California Educational Facilities Authority of Higher Education of California, completes the transaction, the university's total outstanding debt will amount to 1.4 billion dollar. Stanford's director of finance and bondholder relations, said the university had wanted to launch a tax-exempt commercial paper program for two years.

Reports that the Los Angeles Department of Airports in California will sell commercial paper in February 1999 to finance general airport improvements that will benefit a proposed expansion plan. Plans to roll over the short-term debt into general airport revenue bonds upon approval of the expansion plan; Security for the commercial paper; Revenues from passenger facility charges; Expansion plan details.

Focuses on the plan of the state of California to competitively price the general obligation bonds. Maturity of Series A notes; Percentage yield of Series B notes; Use of institutional pricing.

Reports that the attractiveness of municipal bonds compared with their sub-5 percent levels in the first quarter of 1998 is encouraging more retail investors in California to buy tax-free bonds. Willingness among investors to extend maturities to take advantage of the back-up in rates; Comment by Peter Auzers, Western regional manager of fixed-income underwriting at Fidelity Capital.

Reports that BankAmerica Securities Inc.'s aggressive bid to win $47 million of San Francisco, California's general obligation bonds had nothing to do with a lawsuit it faces in connection with trustee services to the city. Bids of other investment banks to the issue; Allegations of mismanagement in the corporate trust business; Sale of the business to First Trust.

Reports that the US Office of the Comptroller of the Currency (OCC) and the City of San Francisco, California have agreed on a settlement that allows the OCC to help the city in its lawsuit against Bank of America. Release of significant documents by the OCC; Lawsuit filed by the city to obtain the documents.

Reports on developments concerning money market funds in California as of March 24, 2000. Cash flows into tax-free money funds; Demand in specialty state markets; Total tax-free assets for tax-free money funds; Daily rates on national paper; Stability of weeklies in the general markets.

Reports the need to establish a state power bonding authority governing the general obligation (GO) bonds in California. Need for the state to sell interim loans; Decline in the Standard & Poor's rating of GO funds; Reaction of sellers toward low stock prices; Expectation of buyers for the stabilization of the state's credit rating.

Reports that the Los Angeles County Metropolitan Transportation Authority is expecting to pay more than usual for a letter of credit for its commercial paper program. Changes in the bank market.

Reports the plan of Los Angeles County Metropolitan Transportation Authority to market revenue bonds in California. Impact of the strike settlement on management plans; Reimbursement of commercial papers of the agency; Stability of revenue bonds due to sales tax revenues.

Reports the plan of the local finance officials to issue taxable commercial paper in toll road agency in Orange County, California. Alteration of investment pool plans; Investment requirements for investment pool; Agreement in buying the commercial paper.

Reports on the selection of underwriters for a capital improvement commercial paper program for Los Angeles International Airport in Los Angeles, California by Los Angeles World Airports on Tuesday November 13, 2001. Names of the companies selected by pool of senior managers; Total amount of commercial papers to be issued during upcoming 18 months; Efforts of the airport to bring in more revenues.

Reports on the highlights of the United States bond market in the week ended February 24, 2000. California general obligation bonds; Light supply; Low supply in municipal markets; Slow activities in primary and secondary markets; Activities of retail buyers.

Reports the issuance of funds in debt for nonprofit organizations by the California Infrastructure and Economic Development Bank in San, Francisco, California. Renovation on the villa of the founder of J. Paul Getty Trust company; Schedule for the pre-pricing and completion of the deal; Sale of revenue bonds for the villa project by Getty Trust.

Reports on the debate over California's plan to issue billions of dollars worth of power revenue bonds by August 2001. Possible impact on the sale of other state-level debt; Market's struggle to absorb so much paper from a single issuer plagued by mounting economic uncertainty; Lowering of California's debt rating due to the state's power crisis and slowing economy.

Reports that the Los Angeles County Metropolitan Transportation Authority (MTA) is mulling the replacement of the Industrial Bank of Japan (IBJ) as credit provider on its commercial paper program. Link between the decision and IBJ's credit rating downgrade; Effect of the downgrade on MTA's interest rates.

Focuses on the impact of the crisis in the power supply industry on the general obligation bond in California. Factors causing the decline of energy industries and tax revenue; Advantage of multi-structured business; Importance of the structure and high business rating in the sale of bonds.

Reports on San Francisco International Airport's plan to institute passenger facility charges. Plans of the airport to go to market with a commercial paper and general airport revenue bond refunding deal; Amount of bonds to be issued by the airport.

Reports that Governor Gray Davis has signed a bill allowing California to sell its general obligation bonds online. Investment in high-yielding asset-backed commercial paper.

Reports that California Treasurer Phil Angelides will sell the first series of general obligation school bonds on April 7, 1999. Inclusion of school debt; Authority given to the state to sell debt for education; Selling of short-term commercial paper.

Focuses on the tax-exempt short-term bonds market in Los Angeles, California. Maturity of the Los Angeles Unified School District's $350 million deal; Markets' richness evident in the California market; Yields on variable-rate demand notes; Upcoming revenue anticipation note deal underwritten by BancAmerica Robertson Stephens.

Focuses on the general obligation bonds in San Francisco, California. Trading of the bonds eight basis points cheaper than some comparable Illinois paper due in 2010; Rating; Yield status.

Looks at trends in the municipal bond market in California as of November 14, 1997. Prediction of a possible increase in new land-secured bonds from indications of a recovery by the state's real estate market; Economic recovery by the state; Types of land-secured debt.

Discloses on the San Francisco Airport Commission's preparations for a revenue bond sale to fund for upgrades to fuel airport delivery systems. Plans for a commercial paper program for capital projects; Fuel bonds as part of a two-pronged financing schedule for the airport; Terms of the plans.

Reports on the trading of not-for-profit revenue bonds by J. Paul Getty Trust in California. Increase of liquidity resulting from deploying an asset allocation model; Payment of outstanding commercial paper; Facilitation of art purchases for the J. Paul Getty museums.

The city of Los Angeles, California plans to issue about $300 million of general obligation and lease revenue bonds in 2004, while Los Angeles County anticipates issuing only about $55 million of short-term paper this year. Mayor James Hahn's $5 billion budget includes a $214 million increase over the previous year to increase the city's reserve fund and number of police officers. The budget includes about $105.6 million of lease revenue bonds to be issued by the Municipal Improvement Corp. of Los Angeles (MICLA) to buy alternative fuel or low-emission vehicles, finance basic infrastructure repairs and technological upgrades, and cover some improvements at the Los Angeles Zoo. The City Council has approved the project and financed the design work, while MICLA could begin issuing bonds for the project next spring. Los Angeles County's Chief Administrative Office proposed a $16.5 billion budget that includes very little in bond funding for a $558.5 million capital program.

Reports the refinancing of toll roads debts in San Francisco, California. Suggestion of Treasurer John Moorlach on tax-exempt bonds; Plans on the improvements of the finances; Elaboration of Wally Kreutzen on the obstacles on the plans.

Reports that the agency that operates Los Angeles International Airport plans to issue up to $100 million in debt to reimburse itself for capital projects that it funded with cash. Name of the agency; Identification of projects that are eligible to be funded through debt; Possibility of the agency issuing commercial paper to fund short-term capital projects.

Presents data on bond issuance in various states of the United States as of March 23, 2001. Student Loan Corp. in Alaska; Los Angeles Airports commercial paper and State Housing Finance Agency single-family revenue bonds in California; Department of Transportation airport revenue refunding bonds in Hawaii.

Reports the impact of the financial status of investor-owned utilities on the municipalities in California. Significance of the general fund allocation to the Department of Water Resources for the credit of the state; Effect of the contribution to purchase power on the municipal bond rating; Downgrade of the Orange County pool rating.

Reports the sale of general obligation bonds by the San Diego Unified School District to finance school facilities in San Diego, California. Reliance on zero-coupon bonds borrowing; Total amount of bonded debt from capital appreciation and coupon bond structure; Dependence of the bond maturity insurance on the savings analysis; Doubt over the debt financing.

Focuses on the money market inflow in California. Increase in total tax-free assets in the marketplace; Decrease of variable-rate demand notes; Yields on general market dailies; Deadlines on corporate taxes; Remarks by portfolio managers on the money market.

Focuses on municipal bond issuance updates in the United States for March 27, 2000. Includes the introduction of bonds from Atlanta, Georgia to finance the Hartsfield International Airport; Revenue bonds to fund the improvement project at Port of Oakland in California; Bond issue from the Hawaii Department of Transportation Harbors Division.

Focuses on benefits of general market bonds with tax rates for residents in California. Comparison of market yields between bonds with tax rates and in-state tax-exempt securities; Justification of the general market name over state credit through spreadsheets; Value-added trades of selling state credits with national offerings.

Discusses the role of timing in enhancing the performance of municipal bond funds in California. Trends in the market for municipal notes; Consequences on yields of buying throughout June 1999; Fund performance ranked by total return and income.

Presents news briefs related to municipal bonds in the Far West, as of July 23, 1999. Includes school bond proposition included in Alaska's April ballot; Legislation proposed to allow Orange County, California, to invest more of its surplus funds in commercial paper; Hawaii's plans to use $30 million through a combination of revenue bonds and accessing a special fund to build terminals in Honolulu Harbor.

Focuses on Los Angeles, California's plan to issue wastewater system revenue refunding bonds to dealers. Strong demand for new-issue paper; Bond rating by Fitch IBCA Inc.

Reports that investors are turned off by California's upcoming $1.7 billion revenue participation note deal, with its 3.15-percent yield. Portfolio management techniques of Todd Purdula, who runs the American Century Investments; Lehman Brothers' purchase of California note deals for conversion to short-term derivatives; Municipal market data yield curve as of September 16, 1998.

Reports on the plans of the San Francisco Airports Commission in California to competitively sell $500 million worth of general airport revenue bonds on January 21, 1998. Aim of taking advantage of strong demand for paper and ideal interest rates; Attractiveness of the bond issue; Use of proceeds from the sale to fund part of the commission's bond-financed master plan.

Announces the filing of court papers by lawyers for challengers of Orange County, California's plans for building a $1.7 billion international airport, on November 13, 1997 seeking to get the environmental impact report thrown out. Ruling issued by Judge Judith McConnell on the inadequacy of the impact report in October; Background on the lawsuit that rendered the ruling.

Reports on the approval of state budget of California for the fiscal year 2003. Steps taken to make-up for a $38 billion shortfall for fiscal 2004 in the budget; Public response to the budget; Amount proposed by the California Senate for redevelopment agencies in the budget.

California Democrats and Republicans seized on the results of June 11, 2003's 11 billion dollar revenue anticipation warrant sale to advance opposing views about whether tax hikes are needed to close the state's massive budget shortfall. Not surprisingly, a poll shows Californians are frustrated with politicians and the state's 38 billion dollar deficit, but they oppose most plans to raise taxes to balance the budget and do not want to see services cut. Republican leaders pointed to strong bidding for the one-year warrants as evidence that California debt remains highly desirable for investors. The results of the sale dispel the notion put forth by Governor Gray Davis and others that a new half-cent sales tax is necessary to secure 10.7 billion dollars in deficit financing bonds proposed by the governor in his fiscal 2004 budget, according to the republican Dave Cox's spokesman Peter DeMarco.

Focuses on expectations of California officials regarding a multi-billion dollar bond sale. Purpose behind the sale of bonds; Budget shortfall that the state is faced with; Financial advisors and bond counsel on the deal.

Reports the marketing of variable-rate power revenue bonds by the Department of Water and Power in Los Angeles, California. Improvement of the credit rating; Utilization of the proceeds to refund the commercial paper; Reduction of public debt.

Reports on the bond issue of California. Structure of the bonds; Price of the bonds; Use of the proceeds from the bonds.

Reports on the performance of money market funds in California as of May 26, 2000. Increase of fund inflows; Issuance in the short-term market.