BBC News California turns to 'IOUs' amid budget impasse Reuters SAN FRANCISCO, July 2 (Reuters) – As California marked its second day of a new fiscal year without a budget agreement, the state government moved ahead on Thursday to issue billions of dollars in “IOUs” in order to avoid a cash crisis. … California ready to issue ious Los Angeles Times CORRECT: Calif Sets 3.75% Rate For July IOUs, Oct 2 Maturity Wall Street Journal California IOUs Will Pay 3.75%, State Panel Decides Bloomberg San Jose Mercury News

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