|The HMB Taxpayer Protection Act Initiative has Been Filed...|
This afternoon a group of Half Moon Bay Residents filed the Taxpayer Protection Act Initiative at City Hall. This begins the lengthy process that will start with gathering signatures beginning in a couple of weeks, to the submission of them and the November election cycle itself.
A link to the actual Initiative Packet can be found here:
In case you don't want to read the whole legal document it can be summarized pretty easily: The act requires that before actually issuing Lease Revenue Bonds a supermajority of Councilmembers must vote in favor of the resolution issuing the bonds. (In other words a 4-1 majority approving the actual issuance of the bonds...) Other cities- like San Jose have voluntarily placed such restrictions on their own Councils as they have been burned by LRB's in the past and recognize that before such a bond measure is issued it needs to have a supermajority of support in the Council.
If you have any questions or concerns I'm pretty easy to find, although I will not be leading this particular effort.