Individual investors continued to buy the first batch of California's voter-approved deficit bonds at a record pace Tuesday.

The state's two-day sale for individual investors ended Tuesday with individuals buying $2.26 billion in bonds - the most ever sold in a retail order period, according to the treasurer's office.

Today, California officials will sell the remainder of the first group of deficit bonds - about $5.5 billion worth - to institutional buyers such as mutual funds.

State Treasurer Phil Angelides said investors are attracted to the bonds because they are considered safe. Not only are they backed by the state's general fund, but also by a dedicated quarter-cent sales tax.

That the bonds have a "fairly high recognition level" was also a factor, Angelides said.

In March, voters authorized the state to sell $15 billion in bonds to reduce the state's budget deficit.

The next batch of bonds - $4.5 billion worth - is scheduled to be sold in June.

According to the treasurer's office, the previous record for a two-day retail sale of bonds was the state's sale of electric revenue bonds in 2002. Then, officials sold $1.52 billion in retail orders over two days. The money was used to pay energy costs.