LOS ANGELES -- Orange County, Calif., plans to sell $215 million in taxable short-term notes as early as next week to finance the county's change to an alternative form of property tax distribution to local governments.

Known as the Teeter plan, the alternative tax allocation method is used by only five of the state's 58 counties, although it has been in California's revenue and taxation code since 1949.

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.