Facing secession, Los Angeles proposes $600 million debt issuance.

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In spite of the uncertain economy and the possibility of being split apart, Los Angeles will ask voters to approve $600 million in general obligation bonds for new police stations and emergency operations centers. The measure will appear on the March 5 ballot. City officials say the events of September 11 underscore the need for enhanced public safety facilities. If approved, the measure will fund the relocation of fire dispatch and emergency operations from city hall, the repair of four police stations, and the construction of several new...

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