Prop. 18 Water Bond To Be Pulled From November Ballot?
A hot rumor around Sacramento lately has been the status and fate of the water bond, now known as Prop 18 on this November’s state ballot. The realities of the economy and state budget wreck have finally hit home to Sacramento decision makers that an $11 Billion measure may not fly with voters this year. Many don’t see how we will make the $900 million per yearpayments…or that they’re getting value for those payments. Today, the Governor, bond proponents,and others including Sen. Darrell Steinberg seem tonow publicly agree that this isn’t the year.
As the legislature placed it on the ballot, the legislature can move to pull it. This isn’t unprecedented with bonds, as the High Speed Rail bond was delayed a couple times during my years in the Assembly having been scheduled to be on the ballot and then pushed back for fear that voters would reject it in ’04 or ’06, asI recall. [Why it passed in ’08 is still beyond me but I digress]
One silver lining is that pushing it back to ’12 saves the state from debt it cannot now afford and gives legislators time to… Read More