Eric Garcetti

Led executive initiatives that materially changed the city's borrowing program and the market for LA‑issued municipal securities. Instrumental in advancing Proposition HHH in 2016, a voter‑approved authorization for approximately $1.2 billion in bonds to finance supportive housing for people experiencing homelessness; that action directly created new bond supply and underwriting transactions tied to the LA credit. Directed administrative requests to the City Council to authorize bond sales and set capital priorities across transportation, housing and public facilities, formally instructing the City Administrative Officer and Treasurer to structure offerings and debt service schedules. These directives altered the timing and composition of LA's municipal bond issuance, affecting liquidity, maturities and investor demand for LA paper. Engaged publicly with credit rating agencies and investors through formal statements, press releases and budget proposals that framed the city's fiscal strategy. Those communications and enacted policies influenced credit outlooks and the pricing of LA bonds in primary offerings and secondary trading, leaving a traceable impact on the instrument's market behavior.