Authorizes $8.877 billion in state general obligation bonds for various infrastructure projects. Fiscal Impact: Increased state costs to repay bonds averaging $430 million per year over 40 years. Local government savings for water-related projects, likely averaging a couple hundred million dollars annually over the next few decades.
YES A YES vote on this measure means: The state could sell $8.9 billion in general obligation bonds to fund various water and environmental projects.
NO A NO vote on this measure means: The state could not sell $8.9 billion in general obligation bonds to fund various water and environmental projects.
PRO YES ON 3 secures safe, reliable, and clean water for California. YES ON 3 provides safe drinking water; repairs unsafe dams; provides drought protection; improves water quality in our ocean, bays, and rivers; and captures, treats, and reuses stormwater. YES ON 3 provides water for people, farms, and the environment.
CON Prop. 3 gives money to lots of organizations. That's the whole idea. But it will not produce one drop of new, usable water. Interest payments on the bonds will double the amount that has to be repaid to bond holders. Think about it . . . seriously. Vote NO.