Friday, February 02, 2007

Bond Funds

Probably, but one can (and should) always remain hopeful that public leadership will act for the common good.

Often high expectations inspire good results.


Stuart Leavenworth: Will state's flood bond funds get frittered away?
By Stuart Leavenworth -
Published 12:00 am PST Friday, February 2, 2007


Five billion dollars sounds impressive, and when you see it in writing -- $5,000,000,000! -- it seems like a bottomless trough. But if you were to stuff this cash into every hole of every eroding flood control levee in the Central Valley, your money would vanish quickly, with little left to show for it.

Such is the reality that California lawmakers must confront as they prepare to allocate the $4.9 billion voters endorsed for flood control in November.

Voters surprised many experts by strongly approving Propositions 1E and 84 -- which dedicated $4.1 billion and $800 million for flood control -- but now the tug of war begins for who gets the money and when.

It could get ugly in coming months as rural areas clash with urban areas, and Sacramento tries to claim its share of funding in competition with Stockton, Yuba County and other flood-threatened communities.

Along with the regional rivalries, there will be philosophical splits. Should the money be spent mainly to harden existing levees with more dirt and rock? Or should it be spent to widen flood channels, build more bypasses and attempt some redesigns of the current system?