The National Weather Service has issued a tornado warning for the Sacramento Valley near Williams. Map. The storm is heading east southeast and looks as if it will pass just south of Chico if it continues on the current path.
You can follow it using the link above. News on the radio is nearly non-existent. TV should have more later.
None of the funnel clouds have touched down yet. Keep your eyes open.
Sorry about the brevity of this post. I don't have the skills of Weatherdude.
Update: At least one funnel cloud touched down. From KHSL-TV: Tornado Touches Down Briefly at Ranch in Glenn County