LOS ANGELES - California Controller Gray Davis said yesterday he will have enough cash in nine days to redeem $475 million of revenue anticipation warrants sold to pay state bills through June 30.

"California has some good economic news to report for a change," said Mr. Davis. "Our latest cash flow is very encouraging and I am confident we can redeem the warrants on July 24."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.