Who’s paying for the slick Yes on I mailers that Alameda residents received this week?

Wide distribution of these large format, two-sided, color glossy mailers must have cost tens of thousands of dollars to design, print and mail.

Who’s paying for them? The Yes on I committee hasn’t filed their first pre-election campaign disclosure statements, even though the timing of these mailers suggests they have surely raised tens of thousands of dollars by now.

In all probability, it is the bond underwriters – the companies that will stand to profit from issuing $180 million in bonds if Measure I passes – are also underwriting the Yes on Measure I campaign. We saw the same thing in 2004 with Measure C, when the bond underwriters UBS Securities and Piper Jaffray each contributed tens of thousands of dollars to the pro-Measure C campaign.

Nonetheless, it won’t change anything. Measure I does not commit in advance how the money is going to be spent – read the measure! It doesn’t say which schools will get how much money for which repairs.

Measure I gives future school boards a free pass on how to spend your tax dollars!

Vote No on I