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Following destructive earthquakes in the late 19th and early 20th centuries, real estate developers, press, and boosters minimized and downplayed the risk of earthquakes out of fear that the ongoing economic boom would be negatively affected. [3] [4] California earthquakes (1769–2000)
The first-second event bond (Atlas Re) was issued in March of 2000. This note covered European Windstorm and California or Japanese Earthquake. This was an indemnity cover for SCOR. [15] Following this issuance, the first third event bond (Atlas II) was issued in December of 2001. [16]
In 2012, USGS scientists said the fault was due for another magnitude 6.8 to 7.0 earthquake, with the California Geological Survey concurring, stating they believe there is a 31 percent chance of a magnitude-6.7 earthquake or greater along the Rodgers Creek-Hayward Fault in the next 30 years. [22]
A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, but not always, exempt from federal and state income taxation.
Landslides in California occur mainly due to intense rainfall but occasionally are triggered by earthquakes. Landslides are common in Southern California, the San Francisco Bay Area and other parts of Northern California, and the Sierra Nevada. Although they most often are reported when they impact residential developments, landslides also ...
About 70% of the water provided by the project is used for urban areas and industry in southern California and the San Francisco Bay Area, and 30% is used for irrigation in the Central Valley. [62] To reach southern California, the water must be pumped 2,000 feet (610 m) over the Tehachapi Mountains —the highest single water lift in the world ...
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Earthquake modification techniques and modern building codes are designed to prevent total destruction of buildings for earthquakes of no greater than 8.5 on the Richter Scale. [4] Although the Richter Scale is referenced, the localized shaking intensity is one of the largest factors to be considered in building resiliency.