Angelides, Perata Urge Californians To Support Investments In Transportation, Housing And Schools

OAKLAND, CA - California State Treasurer Phil Angelides and State Senate President Pro Tempore Don Perata today urged Californians to support the infrastructure bond plan, Propositions 1A - 1E on the November ballot. Angelides and Perata were joined at the Port of Oakland by Assemblywoman Wilma Chan, Bridge Housing President Carol Galante and California Teachers Association President Barbara E. Kerr.

"This infrastructure investment plan is critical to building California's future and ensuring California can compete and succeed in the global economy," said Treasurer Angelides. "Senate President pro Tempore Don Perata has been a true leader, fighting for these critical investments in our state from day one. I commend him for fighting for an infrastructure plan that will put California on the high road to a sustainable future and a strong economy."

If approved, the bond measures on the November ballot would be the largest single investment in basic infrastructure in the state's history and would ensure essential investments in schools and roads, make housing more affordable and strengthen the state's levees.

"Phil Angelides has always fought to invest in our schools, roads and communities, because he knows that our economy and our quality of life depend on good transportation, housing, education and flood control. California's population will reach 50 million in the next 20 years - twice what our current infrastructure was designed for. It can't be rebuilt overnight, but this plan lets us start making steady improvements and building what we need for the long term," said Perata. "I am honored to stand with Treasurer Angelides today and look forward to working with him to win passage of this essential infrastructure plan."

Placed on the ballot by the Legislature in May, the $37.3 billion bond plan includes:

• Proposition 1A: Transportation Investment Fund.
• Proposition 1B: Highway Safety, Traffic Reduction, Air Quality, Port Security Bond Act of 2006.
• Proposition 1C: Housing and Emergency Shelter Trust Fund Act of 2006.
• Proposition 1D: Education facilities:  Kindergarten-University Public Education Facilities Bond Act of 2006.
• Proposition 1E: Disaster Preparedness and Flood Prevention Bond Act of 2006.

Upon taking office as Treasurer in 1999, Angelides proposed Smart Investments, a detailed plan to redirect state investments in ways that curb sprawl and encourage growth in ways that allow for more efficient use of infrastructure. Angelides' innovative and successful Double Bottom Line and Smart Investments Initiatives, have directed more than $25 billion worth of investments into California's communities - to expand home ownership, help small businesses, create jobs, protect our environment and build more livable communities. In 2002, Angelides was the first statewide elected official to call for the Legislature to approve a $25 billion bond authorization to relieve overcrowding and to repair older schools and co-chaired the fight to win passage of the Housing Bond Act of 2002.