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Calif. won't be selling state buildings yet

December 14, 2010 12:58:15 AM PST
California won't be selling two dozen state buildings this week. An appeals court has issued a stay blocking the controversial sale.Monday's stay delays a $2.3 billion deal transaction that had been scheduled to close this week. It's likely the sale will fall to Gov.-elect Jerry Brown, who takes over Jan. 3.

Gov. Arnold Schwarzenegger had promoted it as a way to generate cash to help fill the state's budget deficit, but opponents argued that selling the properties is unconstitutional and a waste of taxpayer money.

The state is reviewing the court's action and evaluating its options.

It's likely the sale will fall to Gov.-elect Jerry Brown, who takes over Jan. 3.

The Associated Press contributed to this story.


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