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Proposition 60A
Local Government Funds, Revenues.

Shall the sale proceeds of most surplus state property pay off specified bonds?

• Official Summary, Pros & Cons
• Other Resources : Organizations , Articles, Reports, Links
• UU Commentaries
• Other California Ballot Propositions

Virtual UU Meeting House discussion: come on in, and read what people had to say.

Official Summary and Arguments

Sale proceeds of most surplus state property pay off specified bonds. Fiscal Impact: Net savings over the longer term - potentially, low tens of millions of dollars - from accelerated repayment of existing bonds.

Official Voter Information Guide (pdf)
Source: California Secretary of State / Elections and Voter Information

Campaign Finance Information
Source: California Secretary of State / Cal-Access

A YES vote on this measure means:

The state would be required to use any revenues from the sale of surplus property to accelerate the repayment of some existing bonds.

A NO vote on this measure means:

The state would not be required to use revenues from the sale of surplus property to accelerate the repayment of some existing bonds.

Arguments FOR Proposition 60A

Proposition 60A gives voters the chance to reduce the costs of the bonds they overwhelmingly approved in March as part of Governor Schwarzenegger's plan to help ease the state's budget crises.

FOR Proposition 60A: Dan Stanford, Former Chairman, California Fair Political Practices Commission; Barbara O'Connor, PhD, Director, Institute for the Study of Politics and Media, California State University, Sacramento; George N. Zenovich, Associate Justice Retired 5th District Court of Appeals; Michael S. Carona, Sheriff, Orange County; Henry L. "Hank" Lacayo, State President, Congress of California Seniors

Arguments AGAINST Proposition 60A

Proposition 60A does not go far enough. While it earmarks the proceeds of sale of surplus property to pay off bonds, it doesn't mandate sales.

AGAINST Proposition 60A:Senator Bill Morrow; Assemblymember Sarah Reyes

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For Proposition 60A

None located.

Against Proposition 60A

None located.

Nonpartisan Background and Analysis

League of Women Voters

Selected Articles, Editorials, Opinions, Reports

Proposition 60A uses surplus state property to pay off bonds
San Francisco Chronicle, September 18, 2004

High court orders prop. 60 split
Sacramento Bee, Aug. 10, 2004, as posted on NewsBank

Last updated on September 30, 2004

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UU Commentaries

No commentary was received prior to our deadline. Please add your opinion and voice to the discussion below.

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SUPPORTERS SAY Proposition 60A would reduce the overall cost of the Economic Recovery Bonds (Proposition 57, approved in March 2004) by accelerating repayment.

OPPONENTS SAY Proposition 60A does not mandate the sale of surplus property; it only says that proceeds would go to pay off the bonds if property is sold.

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