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California bonds stall as 5 percent cap harms sales
California's bond program falters as inflation and a 5 percent constitutional cap on interest hinder sales. By April only 400 million had been sold, and negotiations have yielded just over 10 million since July. Officials warn lack of higher rates risks delaying the 650 mile water project and 145.5 million in new school construction while veterans await home loans.
MENTIONED IN THIS ARTICLE
Sacramento
UPI
California
Ivy Baker Priest
William Gianelli
Don Anderson
State Allocations Board
Anderson