Measure 49: Make sure you read it carefully
Donít mark your ballot till youíve read Measure 49 in the Votersí Pamphlet. Donít take anyoneís word for what it says, pro or con, until you do so. Of the 66 arguments in favor, only one invites you to read the measure. Thatís 2 percent.
There are 45 arguments against. Ten suggest that you read the measure. Thatís 22 percent of those opposed who want you to read it for yourself ó donít just take their word.
Turn to page 13.
Starting with the seventh line from the bottom of the right-hand column: ďInterest shall be computed under this subsection using the average interest for a one-year Treasury Bill on December 31 of each year of the period between the date the land use regulation was enacted and the date the claim was filed, compounded annually on January 1 of each year of the period.Ē
This is part of the formula spelled out in section 9, (6) that a claimant must use in calculating the amount of loss. This is also one of the reasons a person can never prove a loss under Section 9 because it is impossible to use something that isnít there.
I called the U.S. Department of the Treasury to ask about one-year treasury bills.
The last one issued was in 2001. It doesnít issue them any more. So under section 9 (6) you cannot calculate your loss. How can this be? Call the treasury department. The number is (202) 504-3500. Ask for the rate of current one-year treasury bills ó not treasury bonds.
How can anyone say that Measure 49 makes anything simple? Or corrects the flaws in Measure 37? In addition, Measure 49 would strip away your rights to recover attorneys fees if you were to be successful with a claim. This whole thing stinks to high heaven.