FRA Eye on Finance Newsletter
Eye on Finance June 2010
 
 

 

IN THIS ISSUE:
 
Picking Up The Pace With Fannie And Freddie
 
ABCs Of Cross Year TRANs For School Districts
 
 Recent Credit Rating Upgrades And Disclosure Obligations
 
November Ballot Measure Expected On Vital Services
 
Trends In CFD Issuance
 
CASTOFF Now Online
 
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NOVEMBER BALLOT MEASURE EXPECTED ON
VITAL SERVICES

  BY JIM FABIAN, PRINCIPAL
 

The “Local Taxpayer, Public Safety and Transportation Protection Act” ballot measure has gathered approximately 1.13 million signatures well in excess of the required amount and has been certified for the November 10, 2010 state-wide ballot.

The primary purposes of the “Local Taxpayer, Public Safety and Transportation Protection Act” are to do the following:

  • Close loopholes to prevent the taking of local taxpayer funds currently dedicated to cities, counties, special districts and redevelopment agencies. It would also revoke the State’s authority to borrow local government property funds.
  • Prevent State borrowing, taking or redirecting of the State sales tax on gasoline (Proposition 42 funds) and Highway User Tax on gasoline (HUTA) funds that are dedicated to transportation maintenance and improvements. It would also prevent the State from redirecting public transit funds.
  • Reduce pressure for local tax and fee increases that become necessary when the State redirects local funds.

    Information about the initiative can be found at the website www.savelocalservices.com.

 

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