Attorney General No.

15-0095

Secretary of State No.

1755

Description

Authorizes $6.02 billion in general obligation bonds for water supply infrastructure projects, including watershed improvement and water quality enhancement; capturing urban runoff; water recycling and desalination; flood management; water conservation; water for wildlife; groundwater sustainability and storage; and safe drinking water. Appropriates money from the General Fund to pay off bonds. Requires certain projects to provide matching funds from non-state sources in order to receive bond funds. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: State General Fund costs of $12 billion to pay off principal ($6 billion) and interest ($6 billion) on bonds over a 40-year period. Annual payments would average $300 million. Annual payments would be relatively low in the initial and final few years and somewhat higher in the intervening years. Savings to local governments on water-related projects that would likely average between a few tens of millions of dollars and over $100 million annually over the next few decades.

Proponents

Gerald Meral c/o Lance H. Olson (916) 442-2952

Date

12-28-2015

Document Type

Article

Qualified

Failed to Qualify

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