Who Do You Trust To Issue $4 Billion in Revenue Bonds?

As voters look at your sample ballot, they should be asking themselves whom they trust with over $4 billion in city backed revenue bonds. That’s because if Proposition H passes, the Board of Supervisors will have unchecked power to issue revenue bonds for any pet project they deem “in the public interest.”

The measure’s backers don’t like it when this is brought up. But you can read the measure for yourself and see it as plain as day - the Board of Supervisors will be allowed to issue revenue bonds to take over any utility - not just power companies - and voters won’t have their say over the matter.

Many people are being asked to vote for Prop. H because they believe it to be about “clean energy.” Others are asked to for it because they believe it to be about a public takeover of a private utility. The problem is that if this passes, the Board can ignore the voting public’s intentions and do whatever they like.

With unlimited revenue bond authority, the Board can put the city in the telephone business, the wireless internet business, take over garbage collection, or any “utlity” it deems appropriate.

Voters need to ask themselves who they trust with unchecked authority to issue revenue bonds for whatever pet project they deem necessary. In a time of financial uncertainty, voters need to ensure that the city place the public’s needs over those of partisan politics. That’s why they should vote “NO” on Prop. H this November.