Proposition 3
ELECTION UPDATE: Proposition 3 was approved by California voters by a 55-45% margin.
On July 17, the UC Regents endorsed Proposition 3, the Children's Hospital Bond Act of 2008. This initiative will be on the statewide ballot in November. UC's hospitals remain a capital intensive operation and these bonds will help meet the hospitals' strategic capital needs. The State Attorney General and the Legislative Analyst's Office have provided the following impartial information about Proposition 3:
State Attorney General's Summary
- Proposition 3 authorizes $980 million in bonds, to be repaid from state's General Fund, to fund the construction, expansion, remodeling, renovation, furnishing and equipping of children's hospitals.
- Proposition 3 designates that 20% of bond proceeds go to UC general acute care hospitals.
- Proposition 3 designates that 80% of bond proceeds go to hospitals that focus on children with illnesses such as leukemia, cancer, heart defects, diabetes, sickle cell anemia and cystic fibrosis.
- Proposition 3 requires that qualifying children's hospitals provide comprehensive services to a high volume of children eligible for governmental programs.
Legislative Analyst's Office Fiscal Analysis
- The cost of these bonds to the State is about $2 billion over 30 years to pay off both the principal and interest costs of the bonds; payments of about $64 million per year. (About $1.75 a year for each Californian).
Although the University of California may take official positions on ballot measures, as it has done in this instance, it may not advocate support of or opposition to ballot measures. The University may, however, objectively evaluate a ballot measure's impact on UC, higher education, health and the quality of life of all Californians, and these materials have been compiled to serve this purpose. UC is also normally required to make this information available to the public on request under the California Public Records Act.
The University of California encourages all citizens to become registered voters and participate in the democratic process by exercising their right to vote.
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