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Enron Mail |
Sources report that the bond authorization will be put to a vote today
The bridge loan financing bill will put to a vote today in the California Assembly. The bill would pass with a simple majority as a non-urgency bill, meaning the bill would not take effect for 90 days. The state would be forced to abandon its proposed bridge loan plans. Absent of last minute financial rescues by Davis or a new longer bridge loan package (unlikely) Socal could seek voluntary bankruptcy. The main problem now will be the waiting period for financial relief from the state through the transmission line purchase or other assistance.
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