Vulnerable Power, Water Sectors Intrigue Local Buyers

Kelemen, Jasmina
September 2004
Bond Buyer;9/15/2004, Vol. 349 Issue 31969, p3
Trade Publication
The article focuses on investment in vulnerable power and water sectors in the U.S. Despite weathering major market blows recently and enduring supply threats, the California power and water sectors are still attractive options in the local bond market. Recognizing the potential for water shortage, California launched the CALFED Bay-Delta program over a decade ago to provide funds to local agencies to reduce their dependence on the Colorado River. To date, through propositions 13, 204 and 50, voters have authorized $980 million of bonds. The entire program is expected to provide $5 billion to $7 billion for state waterworks over the next decade.


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