CA: Prop. 71 funding takes new tack (state may issue bond anticipation notes)
Tuesday 29th of May 2012 07:19:54 PM
Posted by admin / Under Tack (sewing)
| Unable to sell bonds to finance California's $3 billion stem cell initiative, the state treasurer's office is trying an unprecedented new approach. With any bond sale delayed by lawsuits over the initiative, the new plan is to issue "bond anticipation notes" that the state would repay if it wins the legal challenges and is able to issue actual bonds. Treasurer Phil Angelides and the committee overseeing the state's stem cell program see the notes as a unique and legally sound way to generate the money to start awarding stem cell research grants this year. But the plan leaves some consumer... |
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