Laserfiche WebLink
9A <br /> them in caorrespondence�d in his testimony to the House Finandaf Setvice.4 Commit�ee i� Page 6 <br /> Nlar�ch tltat Celifomia is the eighth Nargest ecotiqmy in the wortd and has constitutional protection <br /> for debt repayrr�ent and that its bonds are extremety secur+e irnestmer�ts. <br /> The campaign caNing for reform to#�e municigai bond ratirtg system is getting atbe�on�rass <br /> the c�try-Maody's tia,s begun an�temat review of its rating prac�ices and is�dering a r�ew <br /> gbbe!ratirg scede for ait bonds,tockyer t�a►so bee�enaour�ged by d�e�wblic agencies that <br /> have begun to wr�te letters and pass r�or�s asic�g the ratir�g aganizations�o review their <br /> rt�ethodabgies and is aptimisdc ttmt this will ultimately resuR in significantly lo+nrer interest rates <br /> tor mun�al bonds. <br /> After the L.ea�e bo�'d voted t�aramousty ta support the mur�ap�bond rati►�9 refom►�. <br /> League Executive�redor Chris McKen7ie r�dfied the three rating agencies o#the adion.The <br /> League baard strongty wges at�s to pass resoiudons suppartir�g munlc�al bond ratistg refam. <br /> A sample resoluuti�on and letter ta the rating agenc�es is available on the Leag�'s Web site.Linics <br /> to each are provided below. <br /> • Sampie resolution httn:/Mrww.cacfties.orglresource #i(es/26738 Lc,ckyer Story Sam�le <br /> Resofution.►if <br /> • Sample letter <br /> ktttp:/lwws�v.cac€ties.orq/res�urce fiies/26739��ckverSiorvSampleRa6ngAqencyLetter,rtf <br /> A recently taunched Web site,�nr.treasurer.ca.qav/fairbondrata;ngs with addit�nal information <br /> to support the r�aaonwide ef�t to reforrn how Wali Street rating agenaes grd�bonds issued by <br /> stafe ar�d focal govemments. <br /> The site indudes features�o help i�efested parties register their support for a fair system that <br /> bases aN bond rat�gs--#or bottt goverrnnerrt and c�orpotate issuers---on the riSlc the issuer will <br /> defaull.The VIIIeb s�e also indudes backgrotaM htformation,updaEes�the latest developmeMs, <br /> a cxarent tis#af suppo►ters,ne�nrs artides and opinion pieces. <br /> Priority Foc�s reported on treasuref Lockyer's carr►paign in the Aprit 4 issue.The a�is <br /> availabie on the League'S VU@b SI�.It�:/(WWyV,C2CttI�SAfQIF@Sflt1fCG fIES/Z6�E}$3pttl�CKI� <br /> Coalition Condemns Deceptive Prop.98 Racfio CamQaign <br /> Radiying at a news�at the state AARP headquarters in Pasadena w�Wednesday,April <br /> 23,rep�e�atives from AARP,the League of Women Voters af Catifomia,and senior and tenant <br /> rights groups blasted new'Yes on Praposttion 98'radia commeYdals as a deceptive campaign <br /> bein9 ftmded bY epartm�t and m�ile p�rk 1aMNOrds who are try�g to bick voterr�inta <br /> suP{���9�P-98.The measwe is shated for the.lur�e 2008 ballot. <br /> �'� �G �� ' The radio ads began airing Tuesday,Aprii 22 in <br /> �a'°'�'°'�.'"'"�s;� .� most metiia maricets.The spots draw a�voters' <br /> � ;;,�" ___ coru�ms about emir�r�t domafn. However,the acis <br /> �� ,�� inter�tionaliy exctucie any mer�ion of the reat reason <br /> , ... <br /> - ` �"`� landlords have contributed 8U percent of the <br /> �. Ap � <br /> :.vn�..2 lY .'MI�' ! <br /> +� '�`'°`'�""' ���� ""' �""`"� funding for this campaign—to efimirtate rent ca�tral <br /> �:::; a � <br /> �.. v,,,:.�� .�, <br /> £.: <br /> and r+enter protectio�s. <br /> Additionally,Prop.98 would abolish facal land use <br /> regulations and env9ronmerital protections and <br /> craups re�,�at naRP r,eadquarc�s��Pasaaer,s. wouid obstnxx;t future wat�-projacts,The Le�ague is <br /> �art of a brxsad co�ition opposing Pr�.96. <br /> 6 <br />