"Rising borrowing costs and declining investor appetite for anything but the safest bonds are forcing states, cities and towns to deter spending on projects from road improvements to maintenance on schools. California may run out of cash at the end of the month if the state can't sell billions in short-term debt, Treasurer Bill Lockyer said Oct. 1. "

http://www.bloomberg.com/apps/news?pid=2...

CNBC interview with head of Muni bond sales for Raymond James.
http://www.cnbc.com/id/15840232?video=87...


At this point this fund is a stong buy.