California, Mired in Budget Stalemate, Readies $1.7B in GOs

Finestone, Deborah
June 2003
Bond Buyer;6/13/2003, Vol. 344 Issue 31656, p36
Trade Publication
California is planning to market 1.7 billion dollars in general obligation bonds in the week following June 13, 2003 as analysts and investors express increasing concern over Sacramento's seeming inability to come to a compromise over how to solve the state's escalating budget crisis. Despite investor concerns and a crowded calendar of competing offerings, California plans to issue the bonds to pay for school facilities and to restructure outstanding debt as a way of giving the cash-strapped state some near-term breathing room.


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