San Diego's Successful Return To Bond Market - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

San Diego's Successful Return To Bond Market

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Mayor Jerry Sanders will deliver his annual State of the City address Wednesday night. The address comes a day after he announced San Diego's successful return to Wall Street.

Mayor Sanders says the city has completed a multi-million dollar water revenue bond offer. A backlog of audits had kept the city from selling water revenue bonds in the past five years.

The mayor says San Diego's return to Wall Street is a big step for the city, which was once nicknamed "Enron by the sea."

"Through meaningful reforms in our city's financial system and in our ethical culture, we have regained the trust of investors and of Wall Street."

The mayor will deliver his State of the City address at 6:00 p.m. Wednesday at the Balboa Theatre.

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