A YES vote on this measure means: The state could sell $5.5 billion in general obligation bonds primarily for stem cell research and the development of new medicinal treatments in California.
A NO vote on this measure means: The state could not sell $5.5 billion in general obligation bonds primarily for stem cell research and the development of new medical treatments in California.
YES on Prop
University of California Board of Regents
The Michael J. Fox Foundation for Parkinson’s Research
The Latino Cancer Institute
Sickle Cell Disease Foundation of California
Gov. Gavin Newsom
California Institute for Regenerative Medicine Board of Directors
No on Prop
Jeff Sheehy, board member of the California Institute for Regenerative Medicine
Los Angeles Times editorial board
San Francisco Chronicle editorial board
Mercury News & East Bay Times editorial boards
Select a City and County Proposition:
Health and Recovery Bonds. To finance the acquisition or improvement of real property, including to: stabilize, improve, and make permanent investments in supportive housing facilities, shelters, and/or facilities that deliver services to persons experiencing mental health challenges, substance use disorder, and/or homelessness; improve the accessibility, safety and quality of parks, open spaces and recreation facilities; improve the accessibility, safety and condition of the City’s streets and other public right-of-way and related assets; and to pay related costs, shall the City and County of San Francisco issue $487,500,000 in general obligation bonds with a duration of up to 30 years from the time of issuance, and estimated average tax rate of $0.014/$100 of assessed property value, and project average annual revenues of $40,000,000, subject to independent citizen oversight and regular audits? The City’s current debt management policy is to keep the property tax rate for City general obligation bonds below the 2006 rate by issuing new bonds as older ones are retied and the tax base grows, though this property tax rate may vary based on other factors.
In other words...
Should San Francisco issue $487.5 million in bonds to fund parks and recreation facilities, mental health and substance abuse facilities, supportive housing and homeless shelters, and seismic improvements to public areas and road repairs? Passes with a two-thirds vote.