Bill to Let Troubled California City Issue Trans Gets Stuck in Senate

Saskal, Rich
June 2004
Bond Buyer;6/21/2004, Vol. 348 Issue 31909, p3
Trade Publication
Reports that Republicans in the California Senate have denied the two-thirds majority required for the approval of a bill that would clear the way for the city of Richmond to issue tax and revenue anticipation notes despite its financial problems. Downgrading of the city's debt by Standard & Poor's and Moody's Investors Service; Budget shortfall of the city; Statements by bill sponsor Loni Hancock and by councilman Tom Butt.


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