Regional News
Monrovia, Calif., Refunds Defaulted RDA Notes
Monday, February 25, 2013
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The successor agency to Monrovia, Cali's redevelopment agency refunded a five-year note that went into default last summer during the months it took to get approval from the state to refinance.

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Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.

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