[Robert357]

A couple of things. The state Treas. says he will put out an agenda sometime in June. To do that, he needs to know by when this challenge will be settled. He also needs to know when the budget will be solved and passed. I suspect that the settlement of the PG&E challenge is the much easier to forecast than when the legislature will get its act together.

By law to be tax exempt bonds, issuance costs can not exceed 2%. Therefore the 1% estimate could happen. Althought what could be interesting is to request that the Treas. require this to be a competitive bond underwriter selection as opposed to a "sole source" or negotiated bond underwriter deal.

Finally, I suspect that the warrants are toast for this fiscal year, which out to make for some interesting cashflow issues at the state.

[snopercod]

Interesting, as in the Chinese curse. Isn't it "May you live in interesting times and attract the attention of powerful people?" or something like that.

Why do you suspect the Warrants are dead? That seemed like their way to delay the cash-flow problem until after the election.