Friday, October 09, 2009
CIRM Says It Is Receiving More Cash From Bond Sale
We would like to call attention to a comment posted this afternoon by CIRM on this site declaring that the information contained in our item, “No New Stem Cell Cash,” is incorrect. Our piece reported that the state treasurer's office said that CIRM would receive no new cash from the latest California bond sale. CIRM disputes that information. We are checking with the treasurer's office concerning the item and the comment by CIRM's Don Gibbons, the stem cell agency's chief communication officer. You can read his comment by clicking on it at the left of this posting. Or you can find it by clicking on the word “comments” at the end of the original item.
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I under stated our good news. We were originally told the $43 million loan repayment came out of the $118. It turns out the loan repayment is on top of the $118. Also, I should note that only part of the refunding of existing bonds converted the debt to tax exempt.
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