The State - News from March 6, 1985

Arizona budget director Gerald A. Silva has been hired as San Jose’s new city auditor, replacing a key figure linked to city’s $59.5-million bond market loss, city officials said. Silva, 39, was hired to replace Carlos Arevalo, who resigned under fire in November following disclosure that the city had lost nearly $60 million through risky speculative investments. Silva, who will begin work in San Jose in April, has been Arizona’s budget director since January, 1982. Before that, Silva served as audit manager in California’s auditor general’s office.