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at’s ft r 5111 About? Life Insurance and Martin Elfant, CLU 4223 Richmond, Suite 213, Houston, Annuities TX 77027 SoYtile tions where property taxes have been paid for at least 50 years, but there are land title problems. This seems OK. Proposition 3: No Under this scheme, the governor, the lieutenant governor, the speaker of the House, and the lieutenant governor’s chairpersons of the Senate appropriations and state affairs committees and the speaker’s chairpersons of the House appropriations and ways-andmeans committees would “manage” the state’s spending when the legislature is not in session. The argument is that decisions need to be made responsive to federal and other changes during the year the legislature doesn’t meet. The correct answer is annual sessions, to which the business Across from the Alamo National Bank 135 East Commerce, San Antonio 225-0231 lobby is opposed. As we explained Sept. 11, it will be better to trust the legislature than this super-conservative committee of seven, as of now composed entirely of the Clements-Hobby-Clayton power structure in state government. The person in charge of the campaign for this amendment is Don Cavness, the lobbyist for the Texas Bankers Assn. Five of the proposed seven super-budgeteers are not elected statewide. No. Proposition 4: No! This is the big one. In the Observer Aug. 28, to which we refer our readers, we contended at length that this scheme should be defeated, saying: “This plan, if adopted, will jeopardize the funding for every program and activity of the state government except water and will therefore dramatically increase the pressure for new taxes. . . . In essence the Clayton Plan is a tax bill faked as a water bill. . . . The state already Parisian Charm. Omelette & Champagne Breakfast. Beautiful Crepes. Afternoon Cocktails. Gallant Waiters. Delicious Quiche. Evening Romance. Continental Steaks. Mysterious Women. Famous Pastries. Cognac & Midnight Rendezvous. In short, it’s about everything a great European style restaurant is all about. We d Cafe 310 East 6th St. Austin, Texas criminally underfunds aid and services for dependent children, the deaf, and the blind what are we doing, dedicating billions to a still-secret plan?” The League of Women Voters opposes the plan. President Diana Clark of Dallas said, “This amendment would siphon off half of the so-called ‘excess’ state tax revenues in each biennium for water projects. These drains on the state treasury can lead to cuts in state funding for schools, human services, the justice system, and other state needs or these drains can lead to new taxes. “What is incredible,” said the spokesperson for the nonpartisan League, “is that this plan is really no plan at all. It gives an elusive amount of Money to the Texas Water Development Board to do something equally elusive about Texas water problems. . . . It denies future legislatures the flexibility needed to meet changing water needs. Texas deserves a better plan for managing its water resources than this pig-in-the-poke amendment.” Speaker Clayton tours the state speaking for the plan, denying it’s mainly for West Texas, but the opponents are right in their slogan “Your taxes their water!” The committee for the plan has collected $500,000 for a high-powered media campaign. The finance cochairmen are Jim Keay, CEO of Republic of Texas Corp., Ben Love, CEO of Texas Commerce Bankshares, and Glenn Biggs, CEO of the First National Bank of San Antonio. Naturally the bankers are interested in the profit to be made from up to a billion dollars in state-guaranteed water bonds. The committee’s treasurer is the CEO of Capital National Bank of Austin, Robert T. Present. Area co-chairmen include Jeff Austin, president, First National Bank of Jacksonville; ex-Gov. Dolph Briscoe, chairman of Alamo National Bank of San Antonio; ex-Gov. John Connally, a member of Vinson & Elkins, which represents First City Bankcorporation; and T. C. Frost, chairman of Cullen/Frost Bankshares. Sen. Kent Caperton, Bryan, says the water fund plan would “line the pockets of the water developers.” Sen. Lloyd Doggett, Austin, says: “The State of Texas has never before done anything like this. Proposition 4 would commit us for the first time to a guarantee that the state will bear the re A Big No on #4 . . . from page 3 Personal Service Quality Insurance ALICE ANDERSON AGENCY INSURANCE & REAL ESTATE 808A E. 46th, Austin, Texas 459-6577 20 OCTOBER 23, 1981