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Thursday, September 27, 2007

Prop 71 Bonds - Be a Part of the Cure!


Many San Franciscans have personal investment portfolios that have enough wiggle room to allow five or ten-thousand dollars for discretionary investment. One of the best places for a San Franciscan to put that five or ten-thousand is into Prop 71 bonds.

California voters approved the California Stem Cell Research and Cures Bond Act (also known as Proposition 71) on November 2, 2004. The Act authorizes the State to issue up to $3 billion of general obligation bonds to make grants or loans to fund stem cell research, research facilities and for other vital research opportunities.

State Treasurer Bill Lockyer has just opened the first $250 million in Prop 71 bonds. The minimum buy-in is $5,000. The California Institute for Regenerative Medicine (CIRM) will receive about $200 million from the bonds. The remaining $50 million will be used to pay off the bond anticipation loans that gave CIRM the money to open its headquarters on King Street near AT&T Park.

The money you invest stays right here in San Francisco and is put to work funding the most cutting-edge medical research on the planet. On top of that, the interest you earn on the bonds is not subject to California state income tax, which sweetens the deal a lot. The interest is federally taxable. The bonds have a Moody's global scale rating of Aaa and that makes them an attractive investment. They are a good investment and an opportunity to underwrite the world's first great stem cell research center.

For more information about Prop 71 (official name: California Stem Cell Research and Cures Bond Act) bonds go to the Buy California Bonds section of the California State Treasurer's web site.
on Thursday, September 27, 2007

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