Get Us Back to Work: Recall the PMIA Decision Now
- by: Californians for Ongoing Invesment
- recipient: California Legislators, Officials and Governor Schwarzenegger
We are Californians impacted by the PMIA decision to stop work on all bond funded projects. This has immediately and adversely impacted us, our families and our communities. No matter what the needed actions on the political side- put us back to work building California's future NOW.
In addition, we are certain that you can help reduce the extreme disruption the AB 55 loan service shut-down is causing in two immediate, specific ways:
1) Develop alternative funding mechanisms: Develop and implement mechanisms to speed the flow of funds once the AB 55 Program starts issuing loans again to tide organizations over the funding gap. Possible temporary solutions and alternatives to a complete stop work order include issuing IOUs (registered warrants) instead of checks, as has been done in past crises that involve the General Fund; working creatively with the AB 55 loan fund to create financial partnerships with private banking and lending institutions; and staffing up the State Controller's office to speed up their check/warrant issuance process when money does start flowing again.
2) Reduce uncertainty: Organizations are floundering even more than necessary in this situation, because of the climate of uncertainty. Without more information about likely future scenarios, managers are laying off entire staffs and closing up entire organizations. If we could reasonably estimate that the stoppage would last, for example, 6 weeks versus 6 months, many of these losses would be unnecessary or at least manageable. Your expert staffers can help us make reasonable estimates about timelines, updates on the state budget process, when commercial paper or bonds might be offered for sale again, when the stop-work order might be lifted on which types of projects, and when the Controller will start writing checks.
MOST IMPORTANTLY: PUT US BACK TO WORK BUILDING CALIFORNIA'S FUTURE AND PROTECTING OUR ENVIRONMENT!
In addition, we are certain that you can help reduce the extreme disruption the AB 55 loan service shut-down is causing in two immediate, specific ways:
1) Develop alternative funding mechanisms: Develop and implement mechanisms to speed the flow of funds once the AB 55 Program starts issuing loans again to tide organizations over the funding gap. Possible temporary solutions and alternatives to a complete stop work order include issuing IOUs (registered warrants) instead of checks, as has been done in past crises that involve the General Fund; working creatively with the AB 55 loan fund to create financial partnerships with private banking and lending institutions; and staffing up the State Controller's office to speed up their check/warrant issuance process when money does start flowing again.
2) Reduce uncertainty: Organizations are floundering even more than necessary in this situation, because of the climate of uncertainty. Without more information about likely future scenarios, managers are laying off entire staffs and closing up entire organizations. If we could reasonably estimate that the stoppage would last, for example, 6 weeks versus 6 months, many of these losses would be unnecessary or at least manageable. Your expert staffers can help us make reasonable estimates about timelines, updates on the state budget process, when commercial paper or bonds might be offered for sale again, when the stop-work order might be lifted on which types of projects, and when the Controller will start writing checks.
MOST IMPORTANTLY: PUT US BACK TO WORK BUILDING CALIFORNIA'S FUTURE AND PROTECTING OUR ENVIRONMENT!
We are Californians impacted by the PMIA decision to stop work on all bond funded projects. This had immediately and adversely impacted us, our families and our communities. No matter what the needed actions on the political side- put us back to work investing in our future NOW.
In addition, we are certain that you can help reduce the extreme disruption the AB 55 loan service shut-down is causing in two immediate, specific ways:
Develop alternative funding mechanisms. Develop and implement mechanisms to speed the flow of funds once the AB 55 Program starts issuing loans again to tide organizations over the funding gap. Possible temporary solutions and alternatives to a complete %u201Cstop work%u201D order include issuing IOU%u2019s (registered warrants) instead of checks, as has been done in past crises that involve the General Fund; working creatively with the AB 55 loan fund to create financial partnerships with private banking and lending institutions; and staffing up the State Controller%u2019s office to speed up their check/warrant issuance process when money does start flowing again.
Reduce uncertainty. Organizations are floundering even more than necessary in this situation, because of the climate of uncertainty. Without more information about likely future scenarios, managers are laying off entire staffs and closing up entire organizations. If we could reasonably estimate that the stoppage would last, for example, 6 weeks versus 6 months, many of these losses would be unnecessary or at least manageable. Your expert staffers can help us make reasonable estimates about timelines, updates on the state budget process, when commercial paper or bonds might be offered for sale again, when the stop-work order might be lifted on which types of projects, and when the Controller will start writing checks.
PUT US BACK TO WORK BUILDING CALIFORNIA'S FUTURE!
Sign PetitionSign PetitionIn addition, we are certain that you can help reduce the extreme disruption the AB 55 loan service shut-down is causing in two immediate, specific ways:
Develop alternative funding mechanisms. Develop and implement mechanisms to speed the flow of funds once the AB 55 Program starts issuing loans again to tide organizations over the funding gap. Possible temporary solutions and alternatives to a complete %u201Cstop work%u201D order include issuing IOU%u2019s (registered warrants) instead of checks, as has been done in past crises that involve the General Fund; working creatively with the AB 55 loan fund to create financial partnerships with private banking and lending institutions; and staffing up the State Controller%u2019s office to speed up their check/warrant issuance process when money does start flowing again.
Reduce uncertainty. Organizations are floundering even more than necessary in this situation, because of the climate of uncertainty. Without more information about likely future scenarios, managers are laying off entire staffs and closing up entire organizations. If we could reasonably estimate that the stoppage would last, for example, 6 weeks versus 6 months, many of these losses would be unnecessary or at least manageable. Your expert staffers can help us make reasonable estimates about timelines, updates on the state budget process, when commercial paper or bonds might be offered for sale again, when the stop-work order might be lifted on which types of projects, and when the Controller will start writing checks.
PUT US BACK TO WORK BUILDING CALIFORNIA'S FUTURE!
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