Sacramento cancels contract over bogus bond from demolition company.
The city of Sacramento has terminated two contracts with a water meter installer officials and workers accuse of disappearing with tens of thousands of dollars in federal stimulus money.
The city canceled the contracts this week after a bonding company said a bond submitted by Advantage Demolition and Engineering was counterfeit.
The company won contracts from the city worth $3.4 million to install hundreds of water meters.
Read more here.
