[Amerigomag]

"We'd go to the market with a substantially better balance sheet and bond rating if 76 passes,"

For those from Rio Linda here's the translation.

If we can borrow an additional $5-$8B, delaying our on-paper deficit and allay the fears of the lending community by granting them constitutional protection precluding renegotiated repayment schedules for previous bonding, we'd go to the market in a much stronger position to borrow another $50B.

[calcowgirl]

If we can borrow an additional $5-$8B, delaying our on-paper deficit and allay the fears of the lending community by granting them constitutional protection precluding renegotiated repayment schedules for previous bonding, we'd go to the market in a much stronger position to borrow another $50B.

Excellent translation of the true Prop 76 intent. Bookmarked!