PROP
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CHILDREN'S HOSPITAL BOND ACT.
GRANT PROGRAM.
INITIATIVE STATUTE.
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SUMMARY Put on the Ballot by Petition Signatures
Authorizes $980,000,000 in general obligation bonds for construction, expansion, remodeling, renovation, furnishing and equipping of eligible children’s hospitals. Fiscal Impact: State cost of about $2 billion over 30 years to pay off both the principal ($980 million) and interest ($933 million) costs of the bonds. Payments of about $64 million per year.
WHAT YOUR VOTE MEANS
YES A YES vote on this measure means: The state could sell $980 million in general obligation bonds for the construction, expansion, remodeling, renovation, furnishing, equipping, financing, or refinancing of children’s hospitals. |
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NO A NO vote on this measure means: The state would not sell the $980 million in general obligation bonds proposed for these purposes. |
ARGUMENTS
PRO Every day, California Children’s Hospitals save lives. Children with leukemia, cancer, cystic fibrosis, heart disease, traumatic injury. 80% with leukemia are making it. 90% are coming through delicate heart surgery. Proposition 3 doesn’t raise taxes. It gives the sickest kids in California the chance for a better life. Imagine that.
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CON Diverts nearly $2 Billion (principal & interest) of your tax dollars to medical special interests promoting this bond, while Millions from a similar 2004 Measure remain unspent. “It’s for the Children” is their lure; but it’s our children we’re saddling with debt. More debt Californians can’t afford. Vote No.
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FOR ADDITIONAL INFORMATION
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