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Prop. H would give the Board of Supervisors the power to spend billions of dollars to take over utilities in San Francisco - without a vote of the people. Don't you have higher priorities?

A Blank Check
  • The initial target of Proposition H is the PG&E electric system. But Proposition H would give the Board of Supervisors the power to issue revenue bonds in any amount to take over any San Francisco utility, including gas, phone, cable and Internet service.
  • Many of the same Supervisors who are backing Proposition H are the same Supervisors who have advocated for a takeover of other utilities. Proposition H would enable them to do that.
    • Billions of Dollars
  • Just to take over the PG&E electric system, the independent City Controller estimates the cost to be likely "in the billions." Other estimates put the cost of acquiring the electric system at over $4 billion. That is over half the entire city budget.
  • The initial target of Proposition H is the PG&E electric system. But Proposition H would give the Board of Supervisors the power to issue revenue bonds in any amount to take over any San Francisco utility. This means the Board could issue revenue bonds for billions of dollars more to take over other utilities.
    • Higher Costs
  • Revenue bonds in San Francisco are paid back by the customers of the utility that issues them.
  • In order to pay back the more than $4 billion in revenue bonds the Board of Supervisors would have to issue to take over the PG&E electric system, San Franciscans would see their electric bills increase by hundreds, in some cases thousands, of dollars per year.
  • Taking over other utilities would lead to even higher costs for San Franciscans.
    • Takes Away Your Right To Vote
  • Today, San Francisco voters have the right to vote on revenue bonds issued to take over utilities. Proposition H would take away our right to vote on these revenue bonds and enables the Board of Supervisors to spend unlimited amounts - in the billions - to take over utilities without a vote of the people.
  • The ballot language says it all: according to section 9.107 of the measure “no voter approval shall be required with respect to revenue bonds” issued to finance the takeover of utility facilities.
  • This means that Proposition H would give the Board of Supervisors the power to issue revenue bonds to take over San Francisco utilities in any amount - WITHOUT your vote - giving city politicians a virtual blank check. This would remove oversight and accountability from the issuance of billions and billions of dollars in revenue bonds to take over utilities.
     

    Paid for by the Committee to Stop the Blank Check, No on H, a coalition of concerned consumers, small businesses, labor, community organizations and Pacific Gas and Electric Company.