SAN FRANCISCO — Oregon Gov. John Kitzhaber unveiled a balanced budget proposal Tuesday for fiscal years 2012 and 2013 that reduces general-fund supported general obligation bond sales by 80% from the prior biennial spending cycle.

Kitzhaber’s budget recommends reducing general fund-supported GO issuance to around $200 million from about $1 billion during the two-year budget for fiscal years 2010 and 2011, according to Jack Kenny, finance manager in the  budget and management division. Fiscal 2011 ends June 30 in Oregon.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.