Bonds

The credit crisis has caused soaring interest rates on municipal bonds, causing cities to look for other ways to fund projects. Nevertheless, numerous projects have been put on hold or face cancellation.

Rapidly approaching a ballot deadline, CA Gov. Schwarzenegger caved in his pledge to veto any bills sent to him prior to receiving a budget by signing a bill that modernizes the 2002 high speed rail bond. Prop 1A will now appear on the Nov. ballot.