State Controller John Chiang and state Treasurer Bill Lockyer will start mailing more than 89,000 letters tomorrow to those who have not yet cashed their Registered Warrants – what you and I call IOUs – from last summer’s cash crisis. They estimate there are about $50 million of these IOUs still outstanding.
Is it just me, or does it seem insane that so many IOUs are still out there? I would’ve cashed those babies in a loooong time ago, especially since they stopped accruing interest last Sept. 3, the day before Lockyer’s office started redeeming them.
Still, here’s what’s still outstanding in our local counties:
That’s your $9.4 million, Bay Area – go get it. IOU holders can redeem their Registered Warrants by mailing them to 915 Capitol Mall, Attention Registered Warrant Desk, Sacramento, CA 95814; tomorrow’s mailings will include a pre-addressed envelope. IOUs can also be redeemed in person at that address on weekdays between 9 a.m. and 3 p.m., or you can check with your bank to see if it’ll honor the IOU. Questions? Call the State Treasurer’s hotline, 1 888-864-2762, between 7 a.m. and 4 p.m. Monday through Friday for live help, or at any time for automated help.