CA: Another Water Bond in the Pipeline [Prop 84]

Los Angeles Times ^ | October 3, 2006 | Nancy Vogel

[calcowgirl]

Voters may feel deja vu when they ponder Proposition 84 on the Nov. 7 ballot, because like five other bond measures in the last decade, it promises clean water, flood control, better parks and coastal protection.

And like the last water bond to go before voters, in 2002, Proposition 84 was written by a Sacramento lobbyist whose clients are land preservation and environmental groups that stand to win public money for pet projects through the measure.

Of the $11 billion that Californians have borrowed over the last decade ... less than $1 billion remains. Proposition 84 carries the highest price yet: $5.4 billion in principal. The cost is more than $10 billion when interest on the 30-year bond is included.

Proposition 84 was written by Joe Caves, a lobbyist whose clients include the Big Sur Land Trust, California State Parks Foundation, National Audubon Society, the Nature Conservancy and the Peninsula Open Space Trust in Menlo Park.

California's political leaders support the measure, saying it will rescue wild lands and increase water supplies as California adds tens of millions of residents.

Gov. Arnold Schwarzenegger and top Democrats have endorsed it; other backers include dozens of water districts, more than 100 conservation groups, the California Chamber of Commerce and many cities, counties and labor unions.

The biggest contributor to the Yes on Proposition 84 campaign is the Nature Conservancy . . .

Caves said Proposition 84 details no specific projects and gives the Legislature oversight of most of the $5.4 billion . . .

Proposition 84 also devotes $928 million to protecting rivers, lakes and streams, and $800 million to flood-control projects . . .

Proposition 84 devotes $580 million to "urban greening" projects that would cut energy and water use, acquire or expand parks and discourage sprawl. . . .

[calcowgirl]

The body of the thread is heavily excerpted due to the length of the article.

[calcowgirl]

And too much of the money, opponents say, would be dedicated to putting private land in government's hands.
"What water bond?" said Assemblyman Doug La Malfa (R-Richvale). "You mean the land acquisition bond?"

Ping!

[NormsRevenge]

Proposition 84 was written by a Sacramento lobbyist whose clients are land preservation and environmental groups that stand to win public money for pet projects through the measure..

--

FRom 2002

Joe Caves and a $3.46 billion bond measure to buy coastal lands and improve water quality has landed on the statewide ballot for November amid criticism that it is skewed toward environmental priorities and projects in Southern California.

http://www.cdfa.net/cdfa/press.nsf/pages/367

[Carry_Okie]

One could look at this type of measure as a sort of backward tax increase. By abetting shortages in developable real estate, higher prices inflate property tax revenue.

[whitedog57]

Democrats or Republicans - they are BOTH reckless with MY money.

Milton Friedman was correct. We should constantly seek to SHRINK the size and influence of government.

In CA, it is worse than usual. The grand illusions of socialism mask the pet projects of environmentalists, teacher's union, illegal immigration supporters, etc.

Remember the great line in "Clear and Present Danger" where the Colombian drug line is screaming "Its my money!" That is what we should ALL feel like.

Anyone has a clip of that?>

[Publius6961]

Proposition 84 carries the highest price yet: $5.4 billion in principal. The cost is more than $10 billion when interest on the 30-year bond is included.

I keep asking and looking, but no answers yet:

Does a matrix exist listing total California taxpayer liabilities for every and every year in the future up to and including 30 years?

These tax users think bonds are free money.

The newest and latest unfunded liabilities crisis we can look forward to!

[calcowgirl]

"The establishment of an American Soviet government will involve the confiscation of large landed estates
in town and country, and also, the whole body of forests, mineral deposits, lakes, rivers and so on."

- William Z. Foster, National Chairman of the Communist Party,
restating point one of the Communist Manifesto in 1932,
“The abolition of private property.”

[1Old Pro]

One could look at this type of measure as a sort of backward tax increase. By abetting shortages in developable real estate, higher prices inflate property tax revenue.

AND, a forward tax increase, afterall, who pays the 10 billion interest & principal on the 5.4 billion borrowed?

[calcowgirl]

Does a matrix exist listing total California taxpayer liabilities for every and every year in the future up to and including 30 years?

I've never seen such a matrix, or the information included succinctly in any financial statement. I did collect the dollars associated with the bond initiatives on the upcoming ballot (from LAO reports). The total amount is $83 billion for principal and interest, requiring almost $3 billion of general fund spending each year--for the next 30 years.

$ in Billions
Prop       Bond Description                    Amount        P&I     Annual
Prop 1B    Highway/Traffic/Air/Port Bond      $19.900    $38.900    $1.300
Prop 1C    Housing/Emergency Shelter Bond       2.800      6.100     0.204
Prop 1D    Kindergarten-Univ School Bond       10.400     20.300     0.680
Prop 1E    Disaster/Flood Protection Bond       4.100      8.000     0.266
Prop 84    Water Quality/Park Bond              5.400     10.500     0.350
   Grand total                                $42.600    $83.800    $2.800

[calcowgirl]

Joe Caves, Union of Concerned Scientists
Joe Caves, a long-time environmental lobbyist in Sacramento
Joe Caves, a principal with Conservation Strategy Group
Joe Caves, a legislative advocate for The Nature Conservancy
Joe Caves, lobbyist for the Planning and Conservation League
Joe Caves, an Audubon consultant