Previous money unspent as leaders urge new bond

Sacramento

As California grapples with chronic and massive debt, state leaders are pushing voters to approve one of the largest bonds in state history, $11 billion in money they say is necessary to help repair and rebuild the beleaguered water system.

But a Chronicle investigation has found that of the more than $20 billion in state water bonds passed since 1996, more than $3 billion has never been spent. And about $1 billion of that unspent money was intended for projects in line to get even more money from the upcoming bond measure.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/08/01/MNAG1EHPJN.DTL&feed=rss.news#ixzz0varOVYtv

———————

Comment: The Prop. 18 bond would cost $800 million a year, when the state budget still is in the red by $19 billion. Instead of passing Prop. 18, the $12 billion bullet-choochoo boondoggle should be repealed.

Hollywood Stars Slam Schwarzenegger’s Water Bond

The PSA features such actors as David DeLuise, from “Wizards of Waverly Place” and son of Dom DeLuise; Justine Bateman, from “Family Ties,” “Californication” and “Desperate Housewives;” Kelly Williams, from “Lie to Me,” “The Practice” and “Scrubs”; Anna Belknap, from “CSI: NY.”

Hollywood Stars Slam Schwarzenegger’s Water Bond

by Dan Bacher

The No on 18 Campaign on Tuesday announced its release of a public service announcement featuring Hollywood actors united against Proposition 18, the $11.14 billion pork-laden water bond backed by Governor Arnold Schwarzenegger and Senate President Pro Tem Darrell Steinberg.

Read more…

———————–

Comment: Arnold’s Hollywood pals finally have gotten wise to him, about how he has wrecked California. The bonds would cost $11 billion, or $800 million a year, at a time when the state budget is $19 billion in the red.

Cal Water Bond: What does Prop. 18 really say and do?

At the end of 2009, the California Legislature passed a series of water-related bills and at the same time approved a massive $11.14 billion bond [the “Safe, Clean, and Reliable Drinking Water Supply Act of 2010”] to fund a wide range of water projects and efforts. This is the largest water bond in 50 years, yet the costs and benefits of the bond have not been fully assessed by an independent organization. Until now.

This bond is to be voted on by California voters in November, as Proposition 18. The Governor recently proposed postponing the bond, but the Legislature has not yet taken the action required to have it pulled off of the November ballot.

The Pacific Institute has just completed a major, comprehensive, and independent analysis of the bond and released the report: The California 2010 Water Bond: What Does It Say and Do?

Read more: http://www.sfgate.com/cgi-bin/blogs/gleick/detail??blogid=104&entry_id=69267#ixzz0va7H8Xl7

Trager Water Report Commentary: The bottom line is that the state is broke and can’t afford the $800 million yearly bond cost, especially for all the pork in it.

Clean Water Action Opposes Bad Water Bond!

Proposition 18 is the largest water bond ever placed before voters, and is the fifth water bond in the last decade. Just paying the bond back will put a tremendous stress on the state’s already depleted General Fund, which is used to repay general obligation bonds. In the past two years, California’s General Fund expenditures have shrunk by about 15%, from a high of $102 billion in 2007-2008 to an estimated $86 billion this year(1), resulting in significant cuts to state services and payments to local counties. These cuts will get worse if this bond is passes since repayment of general obligation bonds takes precedence over most other General Fund expenditures – like higher education and in-home support services for seniors. This year, $5.75 billion from the General Fund will go to pay debt service on existing bonds and the number is expected to grow to over $10 billion in 2013-2014 as already approved but unspent bonds are sold(2).

As California’s economy struggles to recover, repayment of an $11.14 billion bond would cost the General Fund another $800 million annually or $24 billion over 30 years.

Read more…

Hollywood vs. water bond – Prop. 18

Governor Schwarzenegger is promoting Proposition 18, a massive $11 billion water bond to help big agribusiness at the expense of essential services. Sagging poll numbers have the Governor and legislative leaders trying to move the measure until 2012 when it might be more likely to pass.

But Governor Schwarzenegger isn’t the only celebrity weighing in on the future of the state’s water. We asked a few of our friends in Hollywood what they thought of the water bond and the prospect postponing it for two years. They all had the same reaction, and we captured it all on video.

Read more…

California’s Water Woes Continue

Written by  Cara Martinson    
July 22, 2010 

Cara Martinson is CSAC’s Legislative Analyst for Agriculture and Natural Resources. For more, visit The County Voice.

It may be near 100 degrees in Sacramento, but the rain seems to be falling on the water bond parade, as lawmakers attempt to delay the measure until the 2012 ballot.

Both Gov. Schwarzenegger and Senate President Pro Tem Darrell Steinberg have urged the Legislature to delay the $11 billion general-obligation bond package, originally slated for the 2010 ballot. It’s a feat that would take a two-thirds vote of both legislative houses.

Bond supporters are concerned that voters, wearied by a bad economy and the state’s chronic budget crisis, might reject the bond this November. The bond was part of a comprehensive water package approved by the Governor in November 2009, and includes funding for drought relief, water supply projects, Delta sustainability, groundwater, and water storage and conservation projects.

Read more…

New law strengthens Bay Area Water Supply and Conservation Agency

July 19, 2010, 03:30 AM

By Bill Silverfarb Daily Journal staff
 
A new law signed by Gov. Arnold Schwarzenegger last week strengthens a local water agency’s ability to obtain state grants and implement conversation projects.

The Bay Area Water Supply and Conservation Agency will now be able to compete with other water distributors across the state for bond money related to maintaining infrastructure or conservation efforts.
Assemblyman Ira Ruskin, D-Redwood City, drafted the legislation, in part, because of Proposition 18, an $11 billion water bond measure on the November ballot.

The bond measure provides financing for a variety of projects, such as the construction of new dams, drought relief, habitat restoration, recycling, groundwater improvements, watershed restoration and infrastructure improvements.

Read more…

Next Newer Entries