SAN FRANCISCO — Stockton, Calif., is facing the rising specter of a technical default on its redevelopment agency debt, as it will likely have to dip into reserves to pay debt service for $87 million of outstanding bonds.

The Stockton Redevelopment Agency expects to be $856,000 short of tax-increment revenue in one of its project areas to cover upcoming debt service on two series of outstanding revenue bonds totaling $74 million issued in 2006, according to a filing this month with the Municipal Securities Rulemaking Board.

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