AgdaPkt 2006-04-24 - Laserfiche WebLink

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As with any campaign activity, city officials can participate only on their personal time, and without using any public resources (city premises, equipment, email systems and the like). League, Counties, Support Prop. 42 Budget Proposals Earlier this week, the League sent a joint letter with the California State Association of Counties (CSAC) and the Regional Council of Rural Counties (RCRC), to Senate Budget and Fiscal Review Subcommittee Chairman Mike Machado. The letter expressed support for two key Proposition 42 transportation budget proposals in the governor's budget. They are: Full Funding of Prop. 42 in 2006-07. The organizations support the proposal in the governor's budget to fully fund Prop. 42 in FY 2006-07, which would in turn provide resources to the State Transportation Improvement Program (STIP), the Traffic Congestion Relief Program (TCRP), and the Public Transportation Account (PTA). The appropriation would mean $255 million for local streets and roads. Early Payback and Local Streets and Roads. This proposal in the governor's budget would provide early repayment of $920 million of Prop. 42 loans borrowed by the state in previous years. Cities and counties are not slated to receive Prop. 42 allocations over the next two years and thus are dependent on this early repayment and proposed allocation of $255 million for local streets and roads for critical preservation and storm drainage projects. Prop. 42 Traffic Congestion Payments Scheduled Cities and counties scheduled to receive Traffic Congestion Relief Program (Prop 42) funds should receive the warrants sometime next week, depending on how quickly the U.S. Postal Service is able to deliver them. The State Controller's office (SCO) has prepared the payment for Traffic Congestion Relief Program (Prop 42) to be paid on Friday, April 14. This payment will be made with warrants only. The SCO website has been updated with the payment amounts at WWW.sco,ca.QOv. If you have any questions, please contact Bill Byall at the State Controller's Office, (916) 323-0740. CalTRUST Continued from Page 1... . Account options, with next-day liquidity in the Short-Term Account . Specifically authorized in Government Code Section 53601 . Governance provided by local treasurers and investment officers . Participation is easy - Cities can directly invest in CalTRUST without the need for a JPA resolution . Competitive returns Continued on Page 5