More Bond Money for State
California´s ailing economy will get another infusion of bond money. It´s the second installment of Governor Davis´ Build California plan to speed up the distribution of nearly $21.5 billion in bonds approved by voters last year.
Davis hopes the plan to accelerate bond projects and pump badly needed dollars into the economy earlier than expected will create up to 500,000 jobs in the next four years.
State housing and employment officials said today that an additional $159 million in bond money has been distributed, with another $241 million expected as early as next week.
The money will be used to build new housing and retrain California workers.