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Bond bidding falls short of other years in California
California faces a bond funding squeeze as inflation and a 5 percent constitutional cap on interest hinder selling general obligation bonds. With only about 10 million raised since July and 400 million sold since April, major projects like the water program and school construction risk delays. Officials urge voter approval of a higher rate in June to restore funding. without it, veterans housing and other initiatives may stall.
MENTIONED IN THIS ARTICLE
Tracy Wood
Sacramento
UPS
California
Ivy Baker Priest
William Gianelli
General Fund
Don Anderson
State Allocations Board
Anderson
H. J. Johnson
Veterans’ Farm