LOS ANGELES -- Gov. Pete Wilson of California this week proposed saving the fiscally troubled state $200 million by refinancing $1.2 billion of existing lease-revenue bond issues, but the plan faces stiff opposition from the state treasurer.

Gov. Wilson said Tuesday that the refinancing would produce large savings by capitalizing on low tax-exempt interest rates.

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.