Fiscal Impact: This proposition
would allow the state to sell $50 million in general
obligation bonds to (1) replace $24 million in currently
authorized lease-payment bonds for new veterans' homes
and (2) provide $26 million in additional bonds for new or
existing veterans' homes. This would result in a net state cost
of about $33 million over 25 years, with costs of around
$1 million per year.
- A YES vote of this measure means:
- The state could sell $50 million in general obligation
bonds to (1) replace $24 million in currently authorized lease-payment
bonds for veterans' homes and (2) provide $26
million in additional bond proceeds for veterans' homes.
- A NO vote of this measure means:
- The state could not sell $50 million in general obligation
bonds for these purposes. The state could still use $24 million
in currently authorized lease-payment bonds for veterans'
homes.
- Summary of Arguments FOR Proposition 16:
- Proposition 16 provides $50
million to pay for retirement homes for United States
military veterans who are California residents. No new
taxes will be raised or collected to pay for these
homes. Proposition 16 meets an important need for military
personnel who served this nation with distinction.
Full Text of Argument In Favor,
Rebuttal
- Summary of Arguments AGAINST Proposition 16:
- Bonds almost double the cost
of government projects. This proposal would cost $50
million if paid from the state budget. Using bonds will cost
taxpayers $90 million. It would cost less for veterans to
stay at private retirement homes instead of constructing
new buildings.
Full Text of Argument Against,
Rebuttal
- Contact FOR Proposition 16:
- Senator Joe Dunn
Friends of California Veterans
604 So. Harbor
P. O. Box 27551 Santa Ana, CA 92799
(916) 441-4759
prop16@vetbond.com
http://www.vetbond.com
- Contact AGAINST Proposition 16:
- Ted Brown
Libertarian Party of California
(626) 614-0630
tebrown@earthlink.net
http://www.ca.lp.org/bonds.html
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