Language: Shall the Missouri Constitution be amended to change provisions relating to the financing of stormwater control projects by:
• limiting availability of grants and loans to public water and sewer districts only;
• removing the cap on available funding and existing restrictions on disbursements;
• requiring loan repayments to be used only for stormwater control projects?
It is estimated the cost to state governmental entities is $0 to $236,000 annually. It is estimated state governmental entities will save approximately $7,500 for each bond issuance. It is estimated local governmental entities participating in this program may experience savings, however the amount is unknown.
Issues / Implications – When you read “public water and sewer districts” this should be understood as “municipality run districts.” This bill would eliminate any other private companies (aka, publically traded companies) to come in and compete against “public districts” (aka, government run entities) for water and sewer contacts in the state. This elimination of competition would create monopolies among the (government run) public works. Costs would not be checked by fair competition from the private sector. Furthermore, bullet point two would allow the government to raise as much money as they want—removing the current caps that prevent wasteful spending. In short, this measure would make government providers a monopoly, eliminate competition, and remove all limits on the amount of money they could spend: more money but only for the Governmental (public work) entities.
CONCLUSION: I will vote NO on this bill.