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To the Members of the Californian State Assembly

 
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Grey Hackle
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PostPosted: Tue Mar 30, 2010 6:32 pm    Post subject: To the Members of the Californian State Assembly Reply with quote


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fredaevans
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PostPosted: Mon Apr 05, 2010 12:18 am    Post subject: For some context. Reply with quote

AB 1176 (Ammiano)
Infrastructure financing districts: City and County of San Francisco.
Special Governor's Veto Message
LEGISLATIVE COUNSEL'S DIGEST


AB 1176, as amended, Ammiano. Infrastructure financing districts:
City and County of San Francisco.
Existing law specifically authorizes the City and County of San
Francisco to create infrastructure financing districts, adopt
infrastructure financing plans for those districts, and issue bonds
financed by projected increases in ad valorem property taxes to fund
certain public facilities, pursuant to a specified procedure.
Existing property tax law establishes various procedures and
requirements with respect to the annual apportionment and allocation
of ad valorem property tax revenues, including increased revenues
from infrastructure financing districts.
This bill would recast these provisions authorizing the City and
County of San Francisco to create infrastructure financing districts
that include specified waterfront property. This bill would also
modify the procedures for San Francisco to adopt an infrastructure
financing plan, and allocate projected increases in ad valorem
property taxes to specified annual apportionments.


Bill Text:
# 09/17/09 - Enrolled (pdf)
# 09/02/09 - Amended Senate (pdf)
# 08/17/09 - Amended Senate (pdf)
# 02/27/09 - Introduced (pdf)

Bill Location:
# Assembly Desk

Last Action:
# 01/14/10: Consideration of Governor's veto stricken from file.

# Votes09/10/09 - Assembly Floor: 78-0

What all that means is San Francisco (where else? Razz ) already has the 'power' to do much the same, so why another law 'tweeking' what they already can? Save for 'cherry picking' specific projects.
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fredaevans
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PostPosted: Wed Apr 07, 2010 9:02 pm    Post subject: Reply with quote

Per today's news .... Kalifornia, The City of Los Angles to be precise, just got worse. The Mayor just closed down all city departments ('non-essential employees, so that leaves out the Police, Firemen, etc.) two days per week. The city doesn't have the money to pay their wages. 'Funnier yet?' One City department (Water) couldn't meet a $73 million dollar payment .... and they're the one's who actually collect the water bills. Rolling Eyes

Oh, another thing. The State Employee ('Guaranteed') retirement plan is $500,000,000 (yes, that's one half TRILLION dollars) underwater. Have to look back at a call from my Stock Broker just a few days back. Started the conversation by saying 'I know you don't want to buy anything out of California, but this is one General Obligation (tax payers are on the hook for the money) I thought you'd like to know about.'

Kalifornia was willing to pay almost three times the going Bond rate . I assume this is because no body would even consider buying the damned things. Razz
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