Locals Ask: What Cost California?

Kelemen, Jasmina
September 2004
Bond Buyer;9/14/2004, Vol. 349 Issue 31968, p1
Trade Publication
This article reports the discussion on the Californian state budget on local governments which was recently held at The Bond Buyer's 14th Annual California Public Finance Conference. Standard & Poor's Corp.'s managing director Steve Zimmerman said that while the state of California has enjoyed a boost in its ratings from the three major ratings agencies following a massive bond authorization and approval of a state budget, too many questions remain regarding the funding relationship between the state and local governments to translate into higher ratings trickling down to the municipalities. The panel gathered to debate and respond to California finance director Donna Arduin's mostly upbeat report regarding California's fiscal progress.


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