Attorney General No.
Secretary of State No.
WATER QUALITY, SUPPLY AND SAFE DRINKING WATER PROJECTS. COASTAL WETLANDS PURCHASE AND PROTECTION. BONDS. INITIATIVE STATUTE. Authorizes $3,440,000,000 general obligation bonds, to be repaid from state's General Fund, to fund a variety of water projects including: specified CALFED Bay-Delta Program projects including urban and agricultural water use efficiency projects; grants and loans to reduce Colorado River water use; purchasing, protecting and restoring coastal wetlands near urban areas; competitive grants for water management and water quality improvement projects; development of river parkways; improved security for state, local and regional water systems; and grants for desalination and drinking water disinfecting projects. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: If passed, the measure would result in state costs to repay the bonds, which, if the bonds were issued with a maturity of 25 years, would equal approximately $5.7 billion to pay principal ($3.44 billion) and interest ($2.24 billion), with payments of approximately $227 million per year. The measure would also result in potential costs of an unknown amount to state and local governments to operate or maintain properties or projects acquired or developed with these bond funds.
Joseph L. Caves, Joseph Caves & Associates, 926 J Street, Suite 907, Sacramento, CA 95814, (916) 558-1516
WATER QUALITY, SUPPLY AND SAFE DRINKING WATER PROJECTS. COASTAL WETLANDS PURCHASE AND PROTECTION. BONDS. INITIATIVE STATUTE. California Initiative 940 (2001).