Wednesday, September 3, 2003
Mail-in a `yes' vote
for Measure No7
Voters have received a ballot for a special one-measure election. We urge everyone to look at their voters' pamphlet and read the arguments pro and con.
We encourage a "yes" vote on this legislative referral. It is part of the package that the legislature developed to place the Public Employee Retirement System (PERS) on a sounder financial footing.
Approving this measure will enable the state to re-finance PERS with low-interest bonds. It's not a whole lot different than what many homeowners have done with the mortgages on their houses. They've re-financed and reduced a major monthly expense.
The effect of this measure will be to free more funds for current operating needs. Those needs include state support of schools, human services, law enforcement and corrections.
This measure has absolutely nothing to do with the level of PERS pensions or the challenge to the legislative changes enacted by the recent session.
Those changes in pension levels are facing a court challenge completely unrelated to this measure.
This measure has no effect on the income tax changes enacted by the Legislature.
A "yes" vote is a positive vote for reducing the cost of borrowed funds. It is a positive vote for getting an improved level of services for the taxes we're already paying. Return that ballot today. Send it back with a "yes."