Going Into Debt to Build Roads
Gov. Deukmejian’s proposal to finance highway improvements by revenue bonds is designed to avoid the state expenditure limitation imposed by the 1979 initiative. Interest paid from the general fund to bond holders does not count as an expenditure under the Gann limitation. I have an alternative suggestion. The state could return the excess revenues to school districts--most are spending way below their limitation. We have never had enough money to get close to the limit.
The irony of a so-called fiscal conservative advocating going into debt to pay for roads, while telling schools to tighten their belts shows what a mess Californians have created for themselves.
I would suggest that potholes in young minds should be a higher priority for correction by the governor and the Legislators than potholes in roads.
BETTY NOLING
Calabasas
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