Revenue Bonds Voter Approval

The measure was defeated.

Revenue bonds voter approval. Requires statewide voter approval before any revenue bonds can be issued or sold by the state for projects that are financed owned operated or managed by the state or any joint agency created by or including the state if the bond amount exceeds 2 billion. The california voter approval requirement for revenue bonds above 2 billion initiative also known as proposition 53 was on the november 8 2016 ballot in california as an initiated constitutional amendment. A no vote means. As a revenue bond is not backed by the full faith and credit of the issuing government it does not require voter approval.

Proposition 53 the no blank checks initiative would amend the california constitution to require statewide voter approval for projects managed by the state or a state agency which would be financed through revenue bonds in excess of 2 billion 1currently state revenue bonds do not require voter approval 2.