Water Bond: Proposition 1 September 17, WWW.TOWNSENDPA.COM 2014 - - PowerPoint PPT Presentation

WWW.TOWNSENDPA.COM SACRAMENTO • WASHINGTON, DC SOUTHERN CALIFORNIA • NORTHERN CALIFORNIA

Water Bond: Proposition 1 September 17, 2014

Slide 2

2009 Water Bond Delay

• Water Bond was slated for the November 2010 ballot but

was delayed to 2012 at the urging of Governor Arnold Schwarzenegger

• Water Bond was delayed again, this time to 2014 at the

urging of Governor Jerry Brown.

• Statewide drought conditions at the time were smaller

than in comparison to today.

Water Bond Politics | Orange County Water District

Slide 3

Then and Now

Water Bond Politics | Orange County Water District

Graphic Credit: Brad Rippey/U.S. Department of Agriculture

Slide 4

Legislative Water Bond Efforts

Water Bond Politics | Orange County Water District The Legislature reconvened from Summer Recess

• n August 4th.

No work was done on the water bond for

• ver a month.

The Governor insisted the State could not borrow more than $6-7 billion in additional debt for the bond. Ultimately a final water package was negotiated

• n August 13th

and signed by the Governor several hours later. The total package is $7.54 billion, which includes the reallocation of $425 million in existing bond funds The bond will appear on the November General Election Ballot as Proposition 1.

Slide 5

2014 Water Bond

$810 Million 11% $520 Million 7% $725 Million 9% $1.49 Billion 20% $2.7 Billion 36% $395 Million 5% $900 Million 12%

Allocation of Funds

Regional Water Reliability Safe Drinking Water Water Recycling Watershed Protection Storage Statewide Flood Groundwater Water Bond Politics | Orange County Water District

Slide 6

State Bond Debt

Infrastructure Bonds and the State Budget

• California has about $87 billion of outstanding General Fund-

supported infrastructure bonds

• $76 billion of general obligation bonds and $11 billion of lease revenue

bonds

• There are about $29 billion of general obligation and lease revenue

bonds that have not yet been sold

Water Bond

• The water bond would allow the state to borrow an additional

$7.1 billion by selling general obligation bonds to investors

• The Legislative Analysts’ Office estimated average annual General

Fund cost, for the water bond, would be $360 million

Water Bond Politics | Orange County Water District

Slide 7

What’s in it for OCWD

Regional Water Reliability - $810 Million

• Integrated regional water management $510 million
• Stormwater capture $200 million
• Water Conservation $100 million

Water Recycling - $700 Million

• Statewide water recycling projects and activities

(allows for planning and feasibility studies)

Water Bond Politics | Orange County Water District

Slide 8

Support and Opposition for the Bond

Water Bond Politics | Orange County Water District

Support Support Support Oppose

Slide 9

Questions?

Water Bond Politics | Orange County Water District