LOS ANGELES — California State Treasurer Bill Lockyer on Wednesday released a report on the Foothill/Eastern Transportation Corridor Agency that found the toll agency could eventually default on its bond payment obligations without a proposed $2.21 billion restructuring of the agency’s debt.

The general tone of the report comes as no surprise to F/ETCA officials, who said in mid-June that the only thing holding up plans to restructure the debt was getting the California Department of Transportation to sign an agreement extending a contract between the state agency and F/ETCA.

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