LOS ANGELES -- California Gov. Pete Wilson last Thursday vetoed a bill sponsored by state Treasurer Kathleen Brown that would have given her office the authority to issue tax-exempt commercial paper.

Separately, the governor signed into law a bill to force greater general obligation bond disclosure by the treasurer's office -- a bill described as "redundant" and "pointless" by Larry Kreig, the general counsel in the treasurer's office.

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.