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<br />6.38 <br />Page 4 <br /> <br />interest, but the Governor believes it would be irresponsible to '~borrow" such funds <br /> <br />because it would deepen the state's structural deficit and cripple local government and <br /> <br />transportation services; and <br /> <br />WHEREAS, refusal by the Legislature to carryout its constitutional obligation to <br /> <br />compromise on a balanced budget is not a "severe state of fiscal hardship" and would <br /> <br />not justify reductions in critical local services, community revitalization programs and <br /> <br />infrastructure maintenance at a time when cities are struggling to balance their own <br /> <br />budgets during this economic down tum; and <br /> <br />WHEREAS, city investments in infrastructure, affordable housing and basic <br /> <br />public safety and other community services will create needed jobs and speed our <br /> <br />economic recovery; and <br /> <br />WHEREAS, the Legislature should balance the state budget with state revenues <br /> <br />and respect the overwhelming support of voters for not using local property taxes, <br /> <br />redevelopment tax increment and transportation sales tax funds to fund the day-to-day <br /> <br />operating cost of state programs; and <br /> <br />WHEREAS, it would be the height of fiscal irresponsibility to paper over the state <br /> <br />structural deficit with more borrowing, and Californians deserve state leaders who will <br /> <br />tell them honestly what needs to be done to produce a balanced budget; and <br /> <br />WHEREAS, it is time for the state of California to cut up its local government <br /> <br />credit cards and deal with the budget deficit in a straightforward way, balance the state <br /> <br />budget with state funds. <br /> <br />ATTY/RESO/RESO.1840 <br />072408 <br /> <br />2 <br />