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CA: Billions for building jails may not materialize

By Real Cost of Prisons Project (The Sentencing Project)

Billions for building jails may not materialize By Hudson Sangree - hsangree@sacbee.com Thursday, October 2, 2008 As residents of rural Yolo County fight a proposal to build a re-entry prison near Madison, billions of dollars in funding for prison and jail construction are in jeopardy statewide. State lawmakers failed to vote on a bill last month that would have allowed the state to issue more than $7 billion in bonds to finance thousands of new prison and jail beds. Meanwhile, the nation's credit crisis has put in doubt the state's ability to sell bonds to pay for projects. "Even if the legislation was in place, the credit window is closed; the capital markets are locked up tight," said H.D. Palmer, spokesman for the state Department of Finance...continue to full post

Full post as published by The Real Cost of Prisons Weblog on October 02, 2008 (boomark / email).