Proposition 1 has passed, AP reports. It authorizes state officials to borrow $7.12 billion and repurpose $425 million in bonds approved earlier to pay for new water projects.
The measure includes $2.7 billion for storage projects, such as dams; $800 million for cleaning up contaminated underground water; and $725 million for water recycling projects.
In addition, $1.5 billion will be dedicated to the protection and restoration of wildlife habitat and watersheds.
The borrowing will be repaid from the state budget.
The Legislative Analyst’s Office estimates that it will cost an average of $360 million a year to pay off the bonds over about 40 years.
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