Oct. 19, 2016 / News / Katy Grimes, President of Sacramento Taxpayers Association / The Sacramento Bee
“…many of these revenue bonds are issued by appointed members of state agencies, resulting in virtually no transparency or accountability and almost always guaranteeing massive cost overruns…
To make matters worse, a vote is not required by the Legislature or the people. So voters cannot seek recourse. It should upset you that this is the state’s way of doing business when billions of dollars are at stake. In the last 30 years, $1.5 trillion in debt has been issued by state and local governments. If we don’t do something to rein it in, that will be the biggest legacy we leave for future generations.
Proposition 53 puts an end to blank-check spending and says that if voters have to pay, then they deserve to have a say.”