The political econmoy of state government debt : an analysis of constitutional limitations (1961-1990)

Over the past decade, scholarly interest concerning the use of limitations to constrain government spending and taxing has noticeably increased. The call for constitutional restrictions can be credited, in part, to Washington's apparent inability to legislate any significant reductions in government expenditures or in the size of the national debt. At the present time, the federal government is far from instituting any constitutional limitations on spending or borrowing; however, the states have incorporated many controls on revenues and expenditures, the oldest being strictures on full faith and credit borrowing. This dissertations examines the efficacy of these restrictions on borrowing across the states (excluding Alaska) for the period dating from 1961 to 1990 and also studies the limitations on taxing and spending synonymous with the Tax Revolt.

We include socio-economic information in our calculations to control for factors other than the institutional variables that affect state borrowing levels. Our results show that certain constitutional restrictions (in particular, the referendum requirement and the dollar debt limit) are more effective than others. The apparent ineffectiveness of other limitations, such as the flexible debt limit, seem related to the bindingness of the limitations in at least half of the cases. Other variables, such as crime rates, number of schoolage children, and state personal income do affect the levels of full faith and credit debt, but not as strongly as the limitations. While some degree of circumvention can be detected (the amount of full faith and credit debt does inversely affect the levels of nonguaranteed debt), it is so small when compared to the effectiveness of the constitutional restrictions that it is almost negligible. The examination of the tax revolt era limitations yielded quite similar conclusions, with the additional fact that constitutional restrictions appear more binding than statutory ones. Our research demonstrates that constitutional limitations on borrowing can be applied effectively to constrain excessive borrowing, but caution must be used. The efficacy of these restrictions decrease dramatically as the number of loopholes increase.

Water conservation in the city of Pasadena

The object of this report will be to make a complete study of the water that is wasted in the storm drains of Pasadena and determine if there is any practical way of conserving this water.

Report of an investigation of a plan of elimination of grade crossings on the A.T. & S.F. Ry. in the city of Pasadena, California

The problem of the Atchison, Topeka, and Santa Fe railroad in Pasadena is a very dynamic one, as is readily recognized by engineers, city officials, and laymen. The route of the railroad was first laid out in the eighties and because of certain liberal concessions granted by the City of Pasadena, the right-of-way was located through Pasadena, despite the fact that the grade coming into the city either from Los Angeles or San Bernardino was enormous. Some years later, other transcontinental routes of the Santa Fe out of Los Angles were sought, and a right-of-way was obtained by way of Fullerton and Riverside to San Bernardino, where this route joins the one from Los Angeles through Pasadena. This route, however, is ten miles longer than the one through Pasadena, which means a considerable loss of time in a short diversion of approximately only sixty miles in length.

Special Sewage Problem : Report on the Sewage Problem of the City of Los Angeles with Conclusions and Recommendations

Not available.