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The first demand will come in 2018 when the hospitals overuse their surgical procedures, which they may have to purchase out. Unless Exhibit 6-47 is approved by the voters in November 2012, the hospital will be in default on the debt service obligation. A default would be followed by a financial restructuring that the hospital would have to pursue in the courts with all the risks associated with it. The only way for the hospital to avoid this is to gain access to the capital markets and if the Plan is approved by the voters, then the hospital will be able to gain the capital it needs to remain in business.
People who can afford to pay the regressive sales tax would be able to afford better housing or to buy better jobs. Annual property taxes would fall. Most important, this would be a huge step toward reducing the unfunded liabilities of public pension systems because it would increase the tax bases that are always used to calculate the unfunded liabilities.
Exhibit 6-48 is the die-spun version that has been used to create a map that shows the location on a conventional map grid of the obstacles, potential customers, and other important information.
The current constitutional provision forbids a “direct or indirect” gift to an elected or governmental official and says that an “outright gift” to a particular individual is prohibited. The amendment would specifically allow accredited foundations, schools, public corporations, and public authorities to make donations to a registered PAC.
A public entity is a legal entity that carries out important governmental functions and is controlled by a public entity or an instrumentality of government. A police station, for example, is controlled by the municipal government, and a firehouse, library, or airport is owned and controlled by a public entity or instrumentality of its government. A public entity is subject to the general supervision and control of the entity that has established it. Therefore, the interest, property, and resources of a public entity may be used by the agency for important public purposes. d2c66b5586