California local governments will have a wider array of financing options for issuing general obligation bonds as a result of legislation signed late last week by Gov. Pete Wilson.

Senate Bill 872, authored by state Sen. Quentin L. Kopp, I-San Francisco, allows localities to issue zero coupon bonds, variable-rate bonds, and detachable call options. The bill updated archaic Portions of a 1902 California GO bond statute that prevented local governments from using newer financing methods.

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