LOS ANGELES--California finance officials have agreed to sell up to $750 million of governmental warrants by competitive bid on June 23, but have not decided yet how to pay the borrowing costs.

In an attempt to show a united front after weeks of wrangling over the size and maturity date for the warrants, the controller, the state's Treasurer Kathleen Brown, and Finance Director Thomas W. Hayes sent out a joint letter late Wednesday, detailing the state's plan to investors and rating officials.

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