http://www.thepublicpurse.com/2009/10/12/the-municipal-bond-default-story/default-table/ Wed, 15 Jun 2011 20:57:57 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.thepublicpurse.com/2009/10/12/the-municipal-bond-default-story/default-table/comment-page-1/#comment-52 Jim Pugh Wed, 02 Dec 2009 13:57:49 +0000 http://www.thepublicpurse.com/wp-content/uploads/2009/10/default-table.JPG#comment-52 I looked at Vallejo a while ago and this is what I remember. They gave a hair cut to debt service payments equal to the percent that they cut the salaries to their unionized employees. This was discussed in their budget. All of their bonds are insured and/or enhanced by banks and/or the State pension fund. I looked at Vallejo a while ago and this is what I remember. They gave a hair cut to debt service payments equal to the percent that they cut the salaries to their unionized employees. This was discussed in their budget. All of their bonds are insured and/or enhanced by banks and/or the State pension fund.

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