California should use its $45.7 billion surplus to pay debts early, Wall Street investors say
“In theory, it’s great to use excess money you have to lower your recurring expenditures,” said Lisa Washburn, a managing director at research firm Municipal Market Analytics. “Since it’s one-time money, you want to make one-time investments.”
Currently, there are no plans to defease debt with cash, said California Deputy Treasurer Tim Schaefer by email.