California Panel OKs $5 Billion Water Referendum

Williams, Rochelle
May 2003
Bond Buyer;5/7/2003, Vol. 344 Issue 31630, p4
Trade Publication
A California Senate committee on May 7 2003, passed a bill asking voters to approve 5 billion dollars of general obligation bonds for water projects throughout the state, including 1 billion dollars to revitalize the Salton Sea near the Mexico border. The unanimous vote by the Agriculture and Water Resources Committee was the first step for SB 750 in a process that could result in the measure appearing on the ballot by 2004. The chairman of the committee, Senator Michael J. Machado, said he introduced SB 750 in the first week of May in response to conversations with voters who supported a bond initiative that passed in November 2002. Proposition 50 allows for 3.4 billion dollars of bonds for water quality projects.


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