Angels Camp, CA — The three-member Pooled Money Investment Board voted Wednesday in Sacramento to halt nearly $4 billion in loans for almost 2,000 infrastructure projects throughout the state, everything from highway improvements to new schools.
Calaveras Council of Governments Executive Director Tim McSorley adds that no decision has been handed down from the state regarding the 2.4 mile $61.5 million Angels Camp Bypass project already well underway and scheduled for completion in 2010.
McSorley says the overall problem for the state revolves around an inability to issue bonds due to the current fiscal crisis and California´s poor credit rating.
He did add that several CAL Fire projects, such as the remodel of the Altaville Station, has been placed on the back burner.
Written by Boill Johnson