The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (13059)	8/23/2003 6:24:52 PM
From: David Jones	Read Replies (2) of 306849

......primary driver behind Prop 13 in the first place. If the law can be faulted at all it is that it failed to do what it was intended to do and that was rein in government spending..... That is true. Then here's again is the 'but'. Prop 13 set a mandatory two thirds vote to increase taxes or pass bonds. But S.V business became a primary mover in the form of funding to exempt any bonds for schools "community colleges included" form such two thirds and lowered the needed vote to fifty five percent. "Prop 39" Fully some 85% of the moneys used in the campaign for passage of Prop 39 some 30 million came in the form of 100k dollar contributions. It was in no way a grass roots campaign. Sense the change I don't believe more than a couple school bonds have failed to pass. Those that passed are equal to literally billions of dollars we owe or will owe. The schools seem to be the only others building with the exception of residential as far as I've observed. Wait I take that back I've seen some hospitals expanding.

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