CA: Our ballot (OC Register Says No NO NO NO!!!)

OC Register ^ | 3/1/04 | OC Register

[NormsRevenge]

The following is a summary of the Register's positions on the state and local measures on the March 2 ballot.

Proposition 55: No. It would float $12.3 billion in bonds to upgrade and build new classrooms for K-12 schools, the community colleges and the Cal State and UC systems. It's more debt, costing about $823 million a year to pay off over 30 years, for a state that can't balance its budget now.

[hedgetrimmer]

I think it would really help slow down some of these foolish voters that never saw a bond they didn't like.

[Ernest_at_the_Beach]

Well the computers can handle it, once things are setup. course they would likly have to outsource the programming to India to keep the cost down.

[hedgetrimmer]

Who will outsource it to the phillipines, to keep _their_ costs down.

[BunnySlippers]

.

[NormsRevenge]

I guess I should post some links to bond info from the state treasurer's site so folks can see how many bonds are percolating in the pond today. We currently have about 29 billion dollars of bonded debt... or so.

FRom the state treasurer's site

General Fund Supported Debt

http://www.treasurer.ca.gov/Bonds/gfdebt.pdf ~1MB file

[Ernest_at_the_Beach]

HOLY COW!!

AM I MISSING SOMETHING???
Like, do we need a decimal point in here somewhere?

___________________________________________________________________________

Preliminary Official Statement

$625,000,000*
STATE OF CALIFORNIA
(CALIFORNIA DEPARTMENT OF TRANSPORTATION)
FEDERAL HIGHWAY GRANT ANTICIPATION BONDS
SERIES 2004A

*Preliminary, subject to change.

This Preliminary Official Statement is made available as public information. This does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of bonds by any person in any jurisdiction in which it is unlawful for such person to make such an offer, solicitation, or sale. Offers to sell bonds, solicitations of offers to buy bonds, and sales of bonds are not made by employees of the State of California. Please contact your broker if you are interested in purchasing bonds.

Investors must read the entire Preliminary Official Statement to obtain information essential to the making of an informed investment decision. 

I have read and I accept or decline the above disclaimer.

[Ernest_at_the_Beach]

OK, sorry about the hyperventalition!

I came here after looking at pages where the numbers are posted in the thousands and I read this as 625,000,000 thousands!

Still a sizable number but it is a big state and we need highways!

Guess I need more caffeine!

[calcowgirl]

Proposition 55:     No

Proposition 56:     No

Proposition 57:     No

Proposition 58:     No

Absolutely!
.

[Rockitz]

That's what my ballot will show. One might think that this is a good time to borrow, but in my humble opinion, we're headed for deflation and possibly depression. Interest rates will actually go lower in that environment.