Schwarzenegger Clears Path for Fiscally Troubled Richmond to Borrow

Saskal, Rich
July 2004
Bond Buyer;7/19/2004, Vol. 349 Issue 31928, p4
Trade Publication
Reports on the legislation signed by governor Arnold Schwarzenegger allowing Richmond, California to issue tax and revenue anticipation notes. Decrease in the city's credit ratings to speculative, or junk levels by Moody's Investors Service Inc. and Standard and Poor's Corp.; Creation of an intercept mechanism to allow the city's property tax revenue to pass directly to noteholders from the Contra Costa County tax collector.


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