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Laguna Beach Ca Annexations Finances

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CALIFORNIA | LOCAL
September 7, 1992 | KEVIN JOHNSON, TIMES STAFF WRITER
Stripped of critical property tax revenue by the new state budget, Laguna Beach is sounding the alarm and questioning whether the city can still afford a final payment on its treasured $78-million deal to purchase a scenic portion of Laguna Canyon. Although the final $36-million payment on the canyon is not due until 1995, local officials say the state budget crisis and the continuing economic slump are drying up once-dependable cash streams at a pace that could threaten the land purchase.
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CALIFORNIA | LOCAL
September 7, 1992 | KEVIN JOHNSON, TIMES STAFF WRITER
Stripped of critical property tax revenue by the new state budget, Laguna Beach is sounding the alarm and questioning whether the city can still afford a final payment on its treasured $78-million deal to purchase a scenic portion of Laguna Canyon. Although the final $36-million payment on the canyon is not due until 1995, local officials say the state budget crisis and the continuing economic slump are drying up once-dependable cash streams at a pace that could threaten the land purchase.
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