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LWV League of Women Voters of California Education Fund
Smart Voter
State of California November 2, 2004 Election
Proposition 60A
Surplus Property
State of California

Legislative Constitutional Amendment

7,765,107 / 73.2% Yes votes ...... 2,839,572 / 26.8% No votes

See Also: Index of all Propositions

Results as of Dec 6 4:02pm, 100.0% of Precincts Reporting (24035/24035)
Information shown below: Summary | Fiscal Impact | Yes/No Meaning | Official Information | Arguments |

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

Summary Prepared by Attorney General:
Dedicates proceeds from sale of surplus state property purchased with General Fund monies to payment of principal, interest on Economic Recovery Bonds approved in March 2004. When those bonds are repaid, surplus property sales proceeds directed to Special Fund For Economic Uncertainties.

Fiscal Impact from the Legislative Analyst:
Net savings over the longer term--potentially low tens of millions of dollars--from accelerated repayment of existing bonds.

Meaning of Voting Yes/No
A YES vote of 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 of this measure means:
The state would not be required to use revenues from the sale of surplus property accelerate the repayment some existing bonds.

Official Sources of Information
Arguments Submitted to Secretary of State

Summary of Arguments FOR Proposition 60A:
None available

Full Text of Argument In Favor

Summary of 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.

Full Text of Argument Against

Contact FOR Proposition 60A:
No contact information available.

Contact AGAINST Proposition 60A:
No contact information available.

  Official Information

Secretary of State

Campaign Finance Information Legislative Analysts's Office Nonpartisan Information

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Created: December 15, 2004 13:39 PST
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