SACRAMENTO — California Gov. Jerry Brown released a revised budget Monday that dramatically reduces planned bond issuance as part of an effort to narrow overall state borrowing.

The state already skipped its usual springtime general obligation bond issue at Brown’s behest. The revised budget proposal calls for selling only about $1.5 billion of GO bonds in the fall, as the state’s only GO issue of calendar year 2011, after selling $10.5 billion of GOs in 2010.

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