Legislature Approves Bond Package

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(Associated Press)
Friday, May 5, 2006
The approval revived a proposal that had broad public support but failed to pass the Legislature earlier this year. The 37-point-three billion-dollar package would be the largest bond issue in California history and now goes to Governor Arnold Schwarzenegger's desk. The version passed by the Assembly and Senate asks voters toapprove four propositions: 19-point-nine billion dollars for roads and transit projects; 10-point-four billion dollars for school and university buildings; four-point-one billion dollars for flood control; and two-point-85 billion dollars for affordable housing projects. Schwarzenegger had made passing a massive public works spending plan the centerpiece of his re-election year agenda. During his state of the state address in January, the Republican governor proposed selling 68 billion dollars in bonds to help pay for 222-point-six billion dollars in spending over 10 years. An attempt to place a smaller bond measure on the June ballot failed in March when lawmakers and the governor could not reach a compromise. Despite the legislative setback, polls showed that Schwarzenegger's proposal to upgrade the state's highways, bridges, schools, levees and water systems had broad public support.