LOS ANGELES -- California voters Tuesday rejected four measures that would have authorized the sale of $5.9 billion of general obligation bonds to pay for earthquake rebuilding, construction at education institutions, and parkland expansion.

And in a surprise development, Democratic voters chose dark-horse candidate Phil Angelides, a Sacramento, Calif., developer, over the better-known veteran state senator David Roberti as their party's nominee to succeed Kathleen Brown as state treasurer.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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