The Baytown Sun (Baytown, Tex.), Vol. 81, No. 287, Ed. 1 Thursday, September 11, 2003 Page: 7 of 23
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Local
Cte^aptobmftun
Thursday, September 11,2003 '
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Alligator hunting is by permit
cent come through the alligator
The
tax
The festival kicks off at
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Important Information.
coincide with the start of alliga- the roundup. “
“We usually see 10 to 15 per- said.
However, she’s not expecting permits cost $42 for Texas resi-
gn
At the heart of Texas
Gatorfest lies the Great Texas
Alligator Roundup — 14 hours
Should Prop 9 pass, it would
allow the state board of educa
tion to dip into a portion of the
PSF’s capital gains and allocate
them to districts? It would also
allow the state to determine
I on all of the
overall prizes based on length
and county of origin.
. ■ J
By MATTHEW COOK
The Baytown Sun
Tax rate:
Continued from Page 1A
the meeting.
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KATY
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Prop 9:
Continued from Page 1A
PSF income is transferred to
“We hire as many DPS offi- the Available School Fund for
cers as we can get to come
down here," she said.
Cerrone said she hopes
Texans usually harvest about she said.
Cerrone said that in 1998,
Gatorfest this year. She said the the cost is $360. For more infor-
mation call 1-800-792-1112.
Rock Prairie 9 Hwy. 6
979695-2990
However, this year marks a
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distribution to school districts
across Texas according to stu-
dent population. Tfiese funds are
spent primarily on textbooks.
Since the PSF cannot spend
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BRYAN-COLLEGE STATION
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Gatorfest to kick off alligator hunting season Gatorfest:
Continued from Page 1A
Safety troopers.
harvesting in Texas.
Gatorfest is held each year to 200 of those are brought during per foot. This year, they sell for Alligator hunting is by permit “We are stressing to
coincide with the start of alliga- the roundup. about $10 per foot, Cerrone only, according to Texas Parks security officers that we are a
tor hunting season, which began “We usually see 10 to 15 per- said. and Wildlife. Alligator hunting friendly festival," she said.
Wednesday and ends Sept. 30. cent come through the alligator However, she’s not expecting permits cost $42 for Texas resi- Texas Gatorfest, which conservative investments that
From 10 a.m. until 6 p.m. roundup,” she said. that to impact participation at dents. For non-Texas residents begins Friday ends Sunday, lack large dividend payouts.
Saturday and noon until 6 p.m. However, this year marks a Gatorfest this year. She said the the cost is $360. For more infor- js expected to see as many as "
Sunday, hunters can receive low point in alligator hunting, hunters keep coming back for mation call 1-800-792-1112. 30 000 guests Chambers
1 1 . County has a population of
pleased that the court chose not The combined tax rate adding that she hopes that the approximately 27,000.
to raise the tax rate, especially includes taxes for Harris County, county goes through with plans
given the increased budget pres- the Hanis County Flood Control to build more clinics, and possi- 6 p.m. Friday and features three spending based „
sures that governmental units are District, the Port of Houston bly even an emergency services days of live music, carnival PSF’s earnings, not just those
J. rides, food, crafts and the Great from dividends and interest.
Garcia, who was hospitalized Texas Alligator Roundup. By producing an additional
Garcia said she is particularly several weeks ago after taking a
to our budget is beneficial to the concerned about next year’s bud- fall in her home, said she is well Anahuac Park in Anahuac
taxpayers,” Garcia said. , get for the hospital district, on the way to recoveiy. the Trinity River.
hourly prizes and compete for Cerrone said. • the prize money.
“This year, the price of alliga- The roundup allows guests to
tor hide is really, really down, witness the harvest to see alli-
Sarah Cerrone, co-chair of It’s the lowest it’s been since gators up close and personal,
the Gatorfest Committee, said they’ve started hunting again,” The air-horn heard throughout
T--------'.'.j : J 7, the day signifies that hunters Cerrone said she hopes a
of some of the finest alligator 1500 alligators during the 20- Cerrone said that in 1998, have just arrived with a new repeat of last year’s events can
harvesting in Texas. . day hunting season. About 150- alligator hide sold for about $76 catch. be avoided at this year s festival. profit from capital“gatos^ro-
We are stressing to our ponents of Proposition 9 say, the
state is obliged to pass up mil
lions in potential earnings from
The event will be in Fort $536 million in capital gains for
on the 2004-05 biennium, the PSF
could increase payments to
schools by an estimated $125
million or more a year, the non-
partisan Texas House Research
Organization says.
Supporters say this would
allow the PSF to achieve more
long-term growth while still
providing the necessary funds
for current needs. The practice
of considering all earnings is a
generally accepted standard
used by private endowments and
all other Texas state endow-
ments. The restriction of using
only the PSF’s interest and divi-
dends was put in place 127
years ago before current invest-
ment practices.
Opponents counter that most
private endowments changed to
a total return policy when capi-
tal gains were growing rapidly.
It is not known, they say, what
the long-term effect of the cur-
rent economic decline will be
on those endowments. Capital
gains should be kept In the PSF
to preserve the value of the
endowment.
“Historically we have protect-
ed the PSF, and I think we
should continue to protect it
because some day we will be
sorry we milked it down," said
Crosby ISD Superintendent
Don Hendrix. "However, 1 do
think that in the next round of
financing they will have to find
a new designated purpose for
that money because it lias
become too easy for people to
get at it."
State Representative Wayne
Smith, R-Baytown, disagrees.
“As I understand it,” Smith
said, “part of the process would
be to use excess funds to rein-
vest, and it would encourage
investors to invest more in the
PSF."
Opponents point out that the
fund has already lost $6 billion
in value since 1999 through
slumping markets via safe
investments.
Thougli the stock market can
seem like a rollercoaster, the
supporters of Proposition 9 say,
not taking advantage of those
opportunities is a short-term
view. Opponents, they contend,
forget that, over time, the mar-
ket corrects itself. The House
Research Organization has
pointed out that the recent four
consecutive down years of stock
market performance is an occur-
rence that hasn't happened since
1929 to 1933, when the Great
Depression hit the United
States.
Opponents, nevertheless say
their view is anything but short
term. They point out that allow-
ing legislators greater access to
PSF money could be the great-
est short-term temptation yet
and might be used to balance
state budgets.
“As soon as you touch die
principal, it will make it easy for
legislators to take it when they
need the money,” Hendrix said.
“Many legislators had always
said they would never touch
teacher retirement money, but
they did."
Smith disagrees.
“If it does create a problem,
the legislature needs to go back
and fix this," he said, “but it is
my understanding that there are
safety features built In. There is
a cap on withdrawals that would
only allow 6 percent to be
taken.”
Voting on Proposition 9 and
the other 22 proposed Texas
Constitutional amendments will
take place on Saturday.
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“But the sentiment was not facing to maintain services. Authority and the Harris County center, in east Harris County,
there on the court. The consensus “Any time that we can stay the Hospital District.
of the court was to move for- course and still limit the impact
ward,” she said.
Still, Garcia said she was
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Cash, Wanda Garner. The Baytown Sun (Baytown, Tex.), Vol. 81, No. 287, Ed. 1 Thursday, September 11, 2003, newspaper, September 11, 2003; Baytown, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1185153/m1/7/: accessed July 11, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Sterling Municipal Library.