Re:CA voters taxing themselves into debt (Score 1)

Your guess won't be allowed under Proposition 71 From a legislative analyst: "Under the measure, any funding needed for various bond-related costs (for example, the cost of administering the bond sales) would be deducted before bond proceeds were spent for other purposes. The institute would be able to use up to 3 percent of the remaining bond proceeds for general administrative costs and up to an additional 3 percent for administrative costs associated with grantmaking activities. The remaining funds would be used for the grants and loans for research and research facilities. Priority for research grant funding would be given to stem cell research that met the institute's criteria and was unlikely to receive federal funding. In some cases, funding could also be provided for other types of research that were determined to cure or provide new types of treatment of diseases and injuries. The institute would not be allowed to fund research on human reproductive cloning. Up to 10 percent of the funds available for grants and loans could be used to develop scientific and medical research facilities for nonprofit entities within the first five years of the implementation of the measure." http://www.voterguide.ss.ca.gov/propositions/prop7 1-analysis.htm or you can read the whole thing here: http://www.voterguide.ss.ca.gov/propositions/prop7 1text.pdf