Local · Yes/No
Proposition B — Establishing a Municipal Finance Corporation and a Public Bank
Authorizes a City-owned nonprofit lending corporation if sufficient funding and resources are available. After at least three years, it could seek to become a public bank, subject to financial sustainability and regulatory approval.
A yes vote means
Allow the City to establish the lending corporation and a public bank, with boards and oversight commissions specified in the measure.
A no vote means
Do not grant this Charter authorization to establish the lending corporation and public bank.
Requires a simple majority of votes cast on the measure to pass.
Arguments & rebuttals
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