Posts Tagged ‘Southern California Logistics Airport’

VICTORVILLE – The Southern California Logistics Airport Authority announced Thursday that it plans on issuing a notice to its bondholders informing them the authority expects to be $2.9 million shy of its debt obligation come Dec. 1.

“The default has been anticipated by SCLAA largely due to legislative maneuvers by the state of California to shift redevelopment funds and eliminate redevelopment agencies to satisfy the state’s budgetary shortfalls,” said Victorville Mayor Ryan McEachron, who is SCLAA chairman, in a statement Thursday.