From Bloomberg
''California, the most indebted state, may need to sell more than $10 billion in short-term securities in order to pay bills through the fiscal year that begins in July, Controller John Chiang said.
The size of the revenue-anticipation note sale may exceed previous estimates as tax collections have trailed projections and the state exhausted most of its internal borrowing ability, Chiang said in an interview yesterday in Bloomberg’s San Francisco office.''
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