California's Schwarzenegger Signs $189B Spending Plan for Fiscal '07

Cohen, Jackie
July 2006
Bond Buyer;7/3/2006, Vol. 357 Issue 32415, p6
Trade Publication
The article reports on the approval of California's spending plan for fiscal year 2007 by Governor Arnold Schwarzenegger in time for the constitutional deadline on July 1, 2006. The budget includes an estimated $4.2 billion of debt service on the state's general obligation and lease revenue debt. However, it reflects a gross operating deficit of $7 billion, according to a floor report released by the Senate Republican Caucus.


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