ⓘ 2008 California Proposition 3

                                     

ⓘ 2008 California Proposition 3

Proposition 3 is a law that was enacted by California voters by means of the initiative process. It is a bond issue that authorizes 0 million in bonds, to be repaid from state’s General Fund, to fund the construction, expansion, remodeling, renovation, furnishing and equipping of children’s hospitals. The annual payment on the debt authorized by the initiative is approximately million a year. Altogether, the measure would cost about Proposition 3 or the Childrens Hospital Bond Act of 2008 is a law that was enacted by California voters by means of the initiative process. It is a bond issue that authorizes $980 million in bonds, to be repaid from state’s General Fund, to fund the construction, expansion, remodeling, renovation, furnishing and equipping of children’s hospitals. The annual payment on the debt authorized by the initiative is approximately $64 million a year. Altogether, the measure would cost about $1.9 billion over 30 years out of Californias general fund.9 billion over 30 years out of Californias general fund.

This initiative was presented at the General prosecutors office in July 2007 and the measure was put to a vote in the 4 state elections in November 2008. He is now part 6.1 of the health and Safety Code.

Smaller, but similar, bond measure for hospitals, proposition 61, was approved by voters in 2004 for a total amount of $ 750 million. As of 1 June 2008, about 403 million dollars just over half of the total was spent.

                                     
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