[supercat]

• Under Davis, California’s bond rating has plummeted to the lowest of any state, rating just above junk bonds.

How many states issue general revenue bonds at all?

[cartoonistx]

[fight_truth_decay]

I don't have an answer on that but...a definite incentive to raise taxes:

General obligation bonds (GOs)
• Principal and interest payments for general obligation bonds are secured by the full faith, credit and general taxing powers of the issuer. GOs represent a promise by the issuing municipality to levy enough taxes as necessary in order to make timely and complete payments to investors.

[Clemenza]

How many states issue general revenue bonds at all?

New York.