LOS ANGELES — Montebello, a Los Angeles-area city that has been the subject of multiple investigations and audits, issued $2.5 million of tax and revenue anticipation notes at a 4.85% interest rate Thursday.

The private sale to OppenheimerFunds came just a few weeks before the city would run out of cash. Montebello will pay $74,434 in interest on the notes that come due on June 30, 2012.

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