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S.C. REDEVELOPMENT BONDS 03/02/11 0700 E.A.

THE SANTA CRUZ CITY COUNCIL APPROVED A PROPOSAL TO SELL NEARLY 33-MILLION DOLLARS IN BONDS TO SECURE FUNDING FOR REDEVELOPMENT PROJECTS. THE DECISION COMES AFTER GOVERNOR JERRY BROWN‘S PROPOSAL TO ELIMINATE REDEVELOPMENT AGENCIES STATEWIDE. THE SELLING OF BONDS ON THE PRIVATE MARKET BY THE CITY IS EXPECTED TO SAFEGUARD FUNDS FOR PROJECTS SUCH AS THE MONTEREY BAY MARINE SANCTUARY EXPLORATION CENTER, PARKING STUDIES AND DOWNTOWN SECURITY.

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