California Proposition 149, Parks and Recreation Bond Act (1990)

From Ballotpedia
Jump to: navigation, search
California Proposition 149, also known as the Park, Recreation, and Wildlife Enhancement Act of 1990, was on the November 6, 1990 ballot in California as a legislatively-referred bond act, where it was defeated.

If Proposition 149 had passed, it would have authorized the State of California to sell a $437 million bond, incurring that degree of debt, to provide funds for "acquiring, developing, rehabilitating, or restoring real property for state and local park, beach, recreation, greenbelt, wildland fire protection, coastal, historic, or museum purposes."

Election results

Proposition 149
Defeatedd No3,743,76552.92%
Yes 3,330,877 47.08%

Fiscal impact

The fiscal estimate provided by the California Legislative Analyst's Office said:

  • Direct Costs of Paying Off the Bonds. For these types of bonds, the state typically would make principal and interest payments from the state's General Fund over a period of about 20 years. Assuming all of the authorized bonds are sold at an interest rate of 7.5 percent, the cost would be about $780 million to pay off both the principal ($437 million) and interest (about $343 million). The average payment for principal and interest would be about $33 million per year.
  • Operational Costs. The state and local governments that buy or improve property with these bond funds will incur additional costs to operate or manage these properties. These costs may be offset partly by revenues from those properties, such as entrance fees. The net additional costs cannot be estimated.

Path to the ballot

The California State Legislature voted to put Proposition 149 on the ballot with Assembly Bill 145 (Statutes of 1990, Ch. 920) in accordance with the provisions of Article XVI of the California Constitution.

External links