Laserfiche WebLink
<br />8A <br />Page 14 <br /> <br />On the Governor's lottery proposal. Niello said his concern is that the value of the securitization is <br />totally dependent on the state's ability to modernize the lottery and significantly increase <br />revenues. After that, he said, Wall Street has to be convinced of its value. <br /> <br />"We won't know what Wall Street says until after the budget is passed. Passing a budget with a <br />hole in it, to be filled months later by voters in an election, is unprecedented." <br /> <br />Niello said he opposed raising taxes, particularly during tough economic times. <br /> <br />When asked how quickly he thought the budget would pass this year, Nie/lo said, "The two <br />Houses are working hard to be united. We are participating together in events and there is lots of <br />communication." <br /> <br />Assembly Member John Laird (D-Santa Cruz), chair of the Budget Committee and a former Santa <br />Cruz city council member and League board member, attributed the state's current financial crisis <br />to an outdated budget structure created in the 1930s and a habit of passing bills without having <br />the funds available to implement them. <br /> <br />"If we want reform, we don't vote on anything unless there's money for it." <br /> <br />The assembly member critiqued securitizing the lottery under the Governor's proposal, saying <br />that in years the lottery doesn't perform well, the schools won't receive their share of the funds <br />because the bond-holders will be paid first. He backed the LAO's lottery securitization proposal, <br />however, saying it was a more reasonable solution. <br /> <br />Laird, too, emphasized reforming the budget structure so that cuts to health care and education <br />won't have to happen in the future. <br /> <br />"We need to respond to this year's emergency now, but we need to fix this situation in the long- <br />term. " <br /> <br />'Newspapers Oppose Prop. 98' Continued from Page 1... <br /> <br />The League of California Cities also strongly opposes Prop. 98. <br /> <br />Editorials against Prop. 98 point out how supporters of the measure are using eminent domain as <br />a Trojan Horse to mask its real agenda, and warn readers about the devastating impact this <br />measure would have on the residents of Califomia and the state itself. <br /> <br />A full list of the 51 California newspapers opposed to Prop. 98 as of May 23 appears below: <br /> <br />Bakersfield Californian (5/9/08) <br />Contra Costa Times (5/4/08) <br />East County Times (5/4/08) <br />Fremont Argus (5/4/08) <br />Fresno Bee (5/11/08) <br />Hayward Daily Review (5/4/08) <br />Hollister Freelance (5/20108) <br />Inland Valley Daily Bulletin (5/12/08) <br />Lompoc Record (5/12/08) <br />Los Angeles Times (5/12/08) <br />Los Altos Town Crier (5/22/08) <br />Marin Independent Journal (5/19/08) <br />Marin Pacific-Sun (5/19/08) <br />Merced Sun Star (5/16/08) <br />Metro Santa Cruz (5/14/08) <br />Modesto Bee (5/15/08) <br />Monterey County Herald (5/15/08) <br /> <br />Monterey County Weekly (5/15/08) <br />Nolth County Times (5/11/08) <br />Oakland Tribune (5/4108) <br />Palm Springs Deselt Sun (5/20108) <br />Pasadena Star News (5/7/08) <br />Pasadena Weekly (5/7/08) <br />Riverside Press Enterprise (5/1/08) <br />Sacramento Bee (5/22/08) <br />Sacramento News and Review (5/15/08) <br />Salinas Californian (5/22/08) <br />San Bernardino Sun (5/12/08) <br />San Diego City Beat (5/13/08) <br />San Diego Union- Tribune (4/23/08) <br />San Francisco Bay Guardian (4/30108) <br />San Francisco Chronicle (5/4/08) <br />San Gabriel Valley Tribune (5/7/08) <br />San Joaquin Valley Herald (5/4/08) <br /> <br />4 <br />