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Tuolumne County Hopes To Receive T.A.R.P. Funding

Sonora, CA — Tuolumne County is urging Congressman George Radanovich to support a House Bill that could allow the County to recoup losses from Lehman Bros. bonds.

HR 467 would allow counties to become eligible to receive funds from the $700 billion Troubled Assist Relief Program (T.A.R.P.). Tuolumne County had $2 million in Lehman Bros. bonds that went bad when the company collapsed in September.

The Board of Supervisors voted unanimously to send a letter to Radanovich at Tuesday’s meeting. It was at the recommendation of Tuolumne County Treasurer and Tax Collector Del Hodges.

Written by bjhansen@mlode.com