HomeMy WebLinkAboutLetter from Assemblymember Dan Logue 12.18.08 DAN LOGUE
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December 18, 2008
Curt .losiassen, Chairman of the Board
Butte County Board of Supervisors
25 County Center Drive
Oroville, CA 95965
SENT BY FACSIMILE AND MAIL
Dear Super or.losiassen, '
As you may be aware, yesterday the Pooled Money Investment Board (PMIB) consisting of the
State Treasurer, Controller and the Governor's Director of Finance met and voted 3-0 to
postpone state lending for an estimated 2,000 infrastructure bond projects throughout California.
This action came in response to perilously low levels of general fund revenue.
I have been in contact with the State Treasurer and the Department of Finance to formally
express my opposition to the decision of the Board because their broad-sweeping action
jeopardizes important projects throughout our region. Sonne of these projects, if interrupted,
represent a direct threat to the safety of thousands of North State residents - as is the case with
levee repair projects. They also have the potential to seriously compromise the fiscal stability of
local authorities who are subject to local matching fund obligations.
In my consultation with PMIB and other agencies, I have been assured that the actions taken
yesterday, while serious and disconcerting, represent a preliminary legal requirement for the
purpose of providing contractors with notice of possible payment delay. The action does not
rpt CPcc arilL r(»rg sprit ;i wholes?!e shut-dmvn of all i,ifrast?ctu- nrnjertc the Board has
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acknowledged the process will need to prioritize those which, if delayed, would constitute an
imminent threat to public safety or expose the State to legal action.
Please rest assured that I will engage the process and work diligently to advocate for a balanced
approach that preserves funding for those current projects that are of public safety concern while
ensuring the State keeps its commitment to all necessary infrastructure plans.
If I can answer any specific concerns you may have about this issue, please feel free to contact
me personally at: (916) 319-2003.
Sincerely,
DAN LOGUE
Assemblyman, District 3