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Article: Trends in the Region: California Officials Prepared to Spend Billions to Save Salton Sea.
- Article from:
- The Bond Buyer
- Article date:
- June 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN FRANCISCO -- California is poised to spend billions of dollars to save part of an inland sea that was created by accident more than a century ago, though exactly how it will do so remains a matter of debate.
The California Resources Agency released a plan last week outlining its preferred plan to save at least part of the Salton Sea, an inland lake created by a levee break in 1905.
The plan is needed to keep the 376-square-mile saline lake from drying up completely. The agency pegged the cost of its plan at $8.9 billion in 2006 dollars, pegging tax-exempt bonds as one financing source.
The plan culminates a four-year process involving a ...