Prop 5 Requires Strict Accountability and Oversight for Local Bonds
Too often, California’s efforts to address our housing and infrastructure needs have failed to deliver. Under Prop 5, local housing and infrastructure bonds must include strict accountability, oversight, and transparency provisions to help ensure programs deliver results, including:
A clear list of the types of projects to be funded
Strict conflict-of-interest checks for local officials involved in the bonds
Oversight by an independent citizens’ oversight committee
Independent performance and financial audits of all spending that must be 1) posted publicly, and 2) reviewed by the State Auditor