No More IOUs

In good news for the California taxpayers and businesses who received $1.5 billion in registered warrants – IOUs – from the state, the state controller and state treasurer announced August 13 that the warrants will be paid back September 4, one month earlier than expected.

The state will seek a $1.5 billion short-term loan to begin redeeming the IOUs.


Filed under: Budget and Economy

1 Comment »

  1. SACRAMENTO – State Treasurer Bill Lockyer today announced a $10.5 billion
    flow borrowing plan, including a $1.5 billion interim loan that will allow
    the State to stop
    issuing IOUs on September 4.

    I went to a different English class than that hi-brow Stanford, but I read
    that they stop issuing on the Sept 4th. Where does it say start paying back
    on that day. I built a tax revolt on those SOBs and it wasn’t because they
    paid anything back early.

    Still Cold but warmin up,

    Comment by Howard Jarvis — 8.13.2009 @ 5:05 pm

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