From: "P. J. Alling" > California is current balancing it's budget by borrowing. If they > have a law it's not very effective.
It's like North Carolina's. There's a loophole for emergency spending on natural disasters. But you only get to use that loophole AFTER the disaster. And there's revenue bonds for those on-going multi-year projects that need more than one years tax take. NC only allows revenue bonds to finance "capital" improvements i.e. roads, bridges, dams, state parks (buying land for new ones), ... and on a local level - schools. I think California may be stretching that one a little. The problem with that sort of bond issue is they eventually have to be re-paid with interest ... or defaulted. But NC does have an education lottery! -- PDML Pentax-Discuss Mail List [email protected] http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions.
