Prop 4 –Children’s Hospital Bonds Initiative -I’m voting YES
Proposition 4 would authorize $1.5 billion in general obligation bonds to provide for the Children’s Hospital Bond Act Fund. The fund would be used to award grants to children’s hospitals for construction, expansion, renovation, and equipment projects. The initiative would allocate the $1.5 billion in bond funds as follows:
- 72 percent ($1.08 billion) to eight nonprofit hospitals providing comprehensive services to high volumes of children eligible for governmental programs and children with special health needs eligible for California Children’s Services.
- 18 percent ($270 million) to five University of California general acute hospitals, including the University of California, Davis Children’s Hospital; Mattel Children’s Hospital at University of California, Los Angeles; University Children’s Hospital at University of California, Irvine; University of California, San Francisco Children’s Hospital; and University of California, San Diego Children’s Hospital.
- 10 percent ($150 million) to public and private hospitals that provide pediatric services to children eligible for California Children’s Services.
The state’s legislative analyst estimated that interest on the bond would be $1.4 billion over 35 years, bringing the total cost of the bond to $2.9 billion.
Supported by: California Teachers Association.
Opposed by: People who don’t like bond measures in general
A detailed lesson on bonds in CA is here.
To me, this seems like a valid thing to borrow money for.