Friday, May 05, 2006

Record Infrastructure Bond Deal

In the Bee's report on the state legislator today, it appears they have acted to provide $4.09 billion for flood control projects, as part of a record infrastructure bond deal, if voters approve it in November.

Stay tuned.

Here is an excerpt.


Lawmakers send record bond deal to voters
By Andy Furillo -- Bee Capitol Bureau Published 5:26 am PDT Friday, May 5, 2006


By large majorities and sometimes with heavy bipartisan support, the California Legislature completed one of its most significant achievements in recent memory early Friday by putting a $37.3 billion package of infrastructure bonds on the November ballot.

"It's nice to get something accomplished," said state Senate President Pro Tem Don Perata, D-Oakland. "This is probably the biggest accomplishment certainly I've seen in this building in quite awhile, just in terms of our commitment to the future of the state's economy and its infrastructure.

"It's also a textbook example of what bipartisanship can look like."

The Senate moved the four-piece infrastructure package - $19.925 billion for transportation projects, $10.416 billion for K-12 education and colleges, $4.09 billion for flood protection and $2.85 billion for affordable housing - on separate, two-thirds votes that were completed at 12:30 a.m.

The Assembly followed by approving the same package of bonds, the largest in state history, by 3:30 a.m.