Litigation
May 4, 2013
Judge to weigh bond insurer's suit against state over redevelopment law
A judge is set to hear arguments in a case in which a global debt insurer claims California's redevelopment dissolution law impairs constitutionally protected contracts among the agencies, bondholders and insurers.
Daily Journal Staff Writer
When legislation dissolving California's redevelopment agencies was first introduced, many saw the writing on the wall for the municipal bond market. Since the controversial statute took effect last year, ratings of state tax increment bonds have dropped due to concerns about their security, according to bond analysts.
A Sacramento judge is set to hear arguments Friday in a unique case filed agains...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In