AgdaPkt 2006-05-22 - Laserfiche WebLink

Browse Search

INFRASTRUcrURE BOND DETAILS from page 8 ....................... . The governor must declare that the state faces a severe fiscal hardship. . The Legislature must enact statute authorizing the borrowing by 2/3 vote. At the same time, the Legislature must pass a bill specifying that they will repay the loan with interest within three years. . The state can borrow the funds no more than twice in 10 years, and must repay a prior loan before borrowing. . Any Prop. 42 transportation funds that were borrowed by the state but not repaid as of July 1, 2007, must be repaid within a 10 year period (no later than June 30, 2016) at payment of no less than one-tenth per year of the total amount owed. . Authorizes the Legislature to provide for the issuance of bonds by state or local agencies in accordance with the established Prop. 42 allocation methodology. AB 140 (Nunez and Perata) Disaster Preparedness and Flood Prevention Bond Act of 2006 This bond would provide a total of $4.09 billion to prevent flooding by repairing levees and other flood control infrastructure in the Sacramento-San Joaquin River Delta and elsewhere. The funds will be allocated as follows: . $3 billion to evaluate, repair, rehabilitate, reconstruct or replace levees, weirs, bypasses and facilities contained in the state flood control plan; improve or add facilities to increase levels of flood prevention; and reduce the risk of levee failure. . $ 500 million to cover the past and future obligations under the flood control subvention payments to local governments for qualifying projects. . $ 290 million for the protection, creation, and enhancement of flood protection corridors and bypasses, including fund for floodplain mapping. . $ 300 million for grants (with local match) to manage storm water runoff to reduce flood damage and provide benefits such as ground water recharge, water quality improvement and ecosystem. AB 142 (Nunez and Perata) Flood Control: Levee Repair and Flood Control Systems This measure is an urgency appropriation of $500 million dedicated to levee repairs for those critical levee erosion sites identified under Governor's Executive Order S-01-06 in order to reduce the threat of potential flood damage. AB 127 (Nunez/Perata). Education Facilities: Kindergarten-University Public Education Facilities Bond Act of 2006. This measure would provide $10.4 billion in bonds to be deposited into the 2006 State School Facilities fund, which will be used to meet capital outlay needs of higher educational facilities, and finance grants for construction and renovation of schools, including charter schools and facilities for career technical education programs, and to relieve overcrowded schools. This also includes $29 million to fund joint-use projects for construction of K-12 school facilities. Continued on Page 10 Visit the League's Official Websiteuwww.cacities.org PRIORITY FOCUS . PAGE 9 May 5, 2006 . Issue #18 -'---~-"-"'- -"..-_._,..__._.~...".._._...._..~"_.~ ,.-