3rd City Panel Backs Quake Safety Bond Issue
The Budget and Finance Committee on Tuesday became the third Los Angeles City Council panel to endorse placing a $376-million seismic safety bond issue on the June ballot.
Spurred by the devastating 7.1-magnitude Bay Area quake in October, Councilman Richard Alatorre proposed the bond measure as a way to ensure that 84 city buildings and 459 bridges would not crumble during a similar jolt.
The plan was endorsed last week by the Ad Hoc Buildings and Structures Earthquake Safety Committee and on Monday by the Rules and Election Committee.
It is expected to be considered by the full council within two weeks. Approval of the plan in concept by mid-February is necessary to get the bond measure on the June ballot.
The bond issue must be approved by two-thirds of the voters and would cost the average homeowner an additional $30 a year in property taxes.
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