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LEG. COMMITTEE from page 6 . . . . . . . . . . . . . . . . . . . . . . . · · · · · · · · · · · · · · · · · · Legislative Analyst Liz Hill and State Finance League Recommendations Available Director Michael Genest were the only witnesses. Hill provided an overview of the state's infrastruc- City officials are urged to review the infrastruc- ture investments over the past 60 years, as well ture recommendations adopted by the League as financing options (pay as you go, rent and board of directors last week, and to talk to their leasing, bond financing), and the various options legislators about issues that concern cities. For to finance bonds (general funds and selective details, visit the League's website at taxes, user fees, or a dedicated income stream, www.cacities.org/infrastructure. such as that generated through the tobacco .......................... settlement). NLC from page 5 There was considerable discussion about the program by visiting www.uscommunities.org and governor's proposal to pass a constitutional clicking on "Register to Participate." amendment as part of his plan that would cap the state's bond obligation at six percent of the gen- Electronic registration provides a public agency with eral fund. Responding to committee questions, access to all contract documents and pricing, all Hill said that bond debt at the six percent level "is suppliers, and substantial information on program not a cause for concern at these funding levels," savings and program participants. It also provides an because "rating agencies look at the whole pack- electronic copy of the master intergovernmental age, not just the level of debt." She also noted cooperative purchasing agreement that serves as that the scheduling of the bonds authorization can the legal document that authorizes a participating also impact the budget. public agency's use of each lead public agency's contract available through U.S. Communities. Finance Director Genest described the governor's goals, as reflected in the plan. These Details: For more information on the program, visit include addressing the needs of a rapidly growing www.uscommunities.org or contact Marc Shapiro at population by funding what the governor believes NLC, (202) 626-3019 or e-mail: Shapiro@nlc.org. are infrastructure priorities: transportation, educa- tion, and water and flood control- the categories (This article first appeared in Nation's Weekly, a outlined in his plan. Another key goal was to fund publication of the National League of Cities (NLC). these priorities by working with existing funding Reprinted with permission from NLC.) mechanisms, avoiding the need for new taxes. Speaking of the proposal to cap expenditures at You Could Have Your Own six percent of general revenues, Genest said that "the governor didn't want to crowd money from the Subscription to budget and didn't want to create more debt ser- Western City magazine. vice." The six percent debt service cap therefore Subscribe Today! would define how much money to be put into bonds. Only Western City magazine brings you practical ideas and information you need to He acknowledged, however, that the five-year know about local government in California. bond plan does not take possible emergencies Western City magazine presents big-picture (earthquakes, terrorist attacks) into account. "The policy issues and trends in a format suited bottom line is that the plan is affordable over the for busy professionals, with concise feature long haul, but in the immediate future we have to articles and in-depth series that explore solve the structural deficit." statewide issues. Stay informed about city issues across California. Subscribe today. Visit: www.westerncity.com/Df. Visit the League's Official Website--www.cacities.org PRIORITY FOCUS - PAGE 9 February 17, 2006 . Issue #7