Newsom signs bill to bring $15 BILLION "school" bond to CA ballot in March 2020 (Sacramento: car registration, schools)

[settled00]

Originally Posted by CaliRestoration

https://www.sacbee.com/news/politics...235875237.html

Now how much of the $15 billion dollars will go to schools since we know Newsom is free and easy with redirecting tax money to where ever he finds it appropriate.

whoa!!! This post should come with a warning. Don't scare me like that. lol

[Electrician4you]

Originally Posted by expatCA

The State cannot go bankrupt.

Bs. Countries and counties can go bankrupt so can states

[Tulemutt]

Originally Posted by Electrician4you

Bs. Countries and counties can go bankrupt so can states

Uh no, municipalities can but states can’t. I will repost explanation below.

Why can’t states use the federal bankruptcy system to reorganize their debt?
“There are two reasons why state governments currently cannot use the federal bankruptcy system to reorganize their debt. First, the federal bankruptcy code does not allow—and has never allowed—state governments to declare bankruptcy. Since 1937, the bankruptcy code has allowed ‘municipalities’ to declare bankruptcy. The term ‘municipality’ is defined in the bankruptcy code as a ‘political subdivision or public agency or instrumentality of a state.’ This definition is broad enough to include cities, counties, townships, school districts and public improvement districts. It also includes revenue-producing bodies that provide services which are paid for by users rather than by general taxes, such as bridge authorities, highway authorities and gas authorities. But it does not include state governments.

“The second reason stems from the U.S. Constitution. The contracts clause of the U.S. Constitution prohibits state governments from ‘impairing the obligation of contracts.’ As originally understood and enforced, this clause prohibited state legislatures from passing any laws to relieve either private debt or the state government's own debt. Beginning in 1934, however, the Supreme Court began to interpret the contracts clause more flexibly and not as an absolute bar to state debt relief laws. Even under the flexible modern approach, however, the Supreme Court in 1977 reiterated that ‘a state cannot refuse to meet its legitimate financial obligations simply because it would prefer to spend the money (on something else.)’ Thus, were Congress to amend the federal bankruptcy code to authorize states to repudiate debt, the Supreme Court would then need to decide the novel constitutional question of whether such debt repudiation would nonetheless violate the contracts clause of Article I, Section 10.”
https://www.csg.org/pubs/capitolidea...issue65_3.aspx

[Huckleberry3911948]

Well he has already misappropriated 5 billion from the gas tax he intends to use it not for roads but for “the war on global warming” you think he is going to use the 15 billion bond to actually help schools

[expatCA]

Originally Posted by CA4Now

As if we had a choice....John Cox as our alternative? Please.

There's a paywall on the OP's link. Additional info on AB 48: https://edsource.org/2019/gov-newsom...on-bond/617398

Humm, not a Cox fan, but if he had been elected the things Gavin has done, would not have been.

[CaliRestoration]

Originally Posted by Huckleberry3911948

Well he has already misappropriated 5 billion from the gas tax he intends to use it not for roads but for “the war on global warming” you think he is going to use the 15 billion bond to actually help schools

Nope.

But when have California Democrat Politicians ever delivered on anything except "more taxes".

[CaliRestoration]

Originally Posted by CA4Now

As if we had a choice....John Cox as our alternative? Please.

Guarantee you John Cox wouldn't have tried to float a $15 billion bond.

Enjoy "your choice".

[CaliRestoration]

Originally Posted by expatCA

Humm, not a Cox fan, but if he had been elected the things Gavin has done, would not have been.

The funny thing is the people who voted for Newsom and say "Cox is terrible" can't actually articulate "Why is Cox terrible?"

Notice that?

[expatCA]

Originally Posted by CaliRestoration

The funny thing is the people who voted for Newsom and say "Cox is terrible" can't actually articulate "Why is Cox terrible?"

Notice that?

There complaint was that he was a Trump supporter. So what?


Hate is more important than good government in CA?

[Ceece]

Hell no. I'm telling anyone who reads this that if you vote for this you're a moron.