LOS ANGELES -- Most California counties fund their so-called Teeter plan obligations -- an alternative property tax distribution method -- through internal borrowings, but Sonoma County is breaking away from that tradition by conducting an external borrowing.

Sonoma County auditor-controller Rod Dole said yesterday that the scheduled pricing today of $21.5 million of tax-exempt Teeter plan tax and revenue anticipation notes should result in lower interest rates than if the county borrowed from its own treasury pool.

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.