California to price $3 billion taxable G.O.s week of April 13 or April 20

By Sheri Kasprzak

New York, April 6 - The state of California plans to sell $3 billion in series 2009 taxable general obligation bonds during either the week of April 13 or the week of April 20, according to a statement from the state treasurer's office.

Of the proceeds, $1 billion will be used to pay down the state's outstanding AB 55 loan expenditures. The remainder will be used for projects eligible for tax-exempt financing.

The full details of the sale were not immediately available Monday.

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