Water Bond: Proposition 1 September 17, WWW.TOWNSENDPA.COM 2014 SACRAMENTO • WASHINGTON, DC SOUTHERN CALIFORNIA • NORTHERN CALIFORNIA
2009 Water Bond Delay • Water Bond was slated for the November 2010 ballot but was delayed to 2012 at the urging of Governor Arnold Schwarzenegger • Water Bond was delayed again, this time to 2014 at the urging of Governor Jerry Brown. • Statewide drought conditions at the time were smaller than in comparison to today. Water Bond Politics | Orange County Water District Slide 2
Then and Now Graphic Credit: Brad Rippey/U.S. Department of Agriculture Water Bond Politics | Orange County Water District Slide 3
Legislative Water Bond Efforts The Legislature Ultimately a final The total The Governor reconvened from water package The bond will package is $7.54 insisted the Summer Recess was negotiated billion, which appear on the State could not on August 4 th. on August 13th November includes the borrow more and signed by reallocation of General Election No work was than $6-7 billion the Governor Ballot as $425 million in done on the in additional debt several hours existing bond Proposition 1. water bond for for the bond. later. funds over a month. Water Bond Politics | Orange County Water District Slide 4
2014 Water Bond Allocation of Funds $810 Million $900 Million 11% 12% $520 Million $395 Million 7% 5% $725 Million 9% $2.7 Billion $1.49 Billion 36% 20% Regional Water Reliability Safe Drinking Water Water Recycling Watershed Protection Storage Statewide Flood Groundwater Water Bond Politics | Orange County Water District Slide 5
State Bond Debt Infrastructure Bonds and the State Budget • California has about $87 billion of outstanding General Fund- supported infrastructure bonds • $76 billion of general obligation bonds and $11 billion of lease revenue bonds • There are about $29 billion of general obligation and lease revenue bonds that have not yet been sold Water Bond • The water bond would allow the state to borrow an additional $7.1 billion by selling general obligation bonds to investors • The Legislative Analysts’ Office estimated average annual General Fund cost, for the water bond, would be $360 million Water Bond Politics | Orange County Water District Slide 6
What’s in it for OCWD Regional Water Reliability - $810 Million • Integrated regional water management $510 million • Stormwater capture $200 million • Water Conservation $100 million Water Recycling - $700 Million • Statewide water recycling projects and activities (allows for planning and feasibility studies) Water Bond Politics | Orange County Water District Slide 7
Support and Opposition for the Bond Support Oppose Support Support Water Bond Politics | Orange County Water District Slide 8
Questions? Water Bond Politics | Orange County Water District Slide 9
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