California’s San Jose Plans to Restructure $550 Million in Debt
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San Jose, California, the 10th-largest U.S. city by population, plans to restructure as much as $550 million in airport debt this year as it weighs whether to declare a state of fiscal emergency, municipal officials said.
The City Council will consider refinancing as much as $300 million in short-term notes on June 21, Arn Andrews, the Finance Department’s treasury manager, said today in an interview. The refunding isn’t tied to the fiscal situation, he said.