Berkeley City Councilmember Gordon Wozniak is working to repeal key portions of the Nuclear Free Berkeley Act – an act that blocks the city from dealing with anything related to nuclear power.
According to the San Francisco Chronicle, Wozniak has specifically targeted a part of the act that prohibits the city from granting contracts to or investing with any organizations that have connections to nuclear energy, including the federal government.
Therefore, the city is prohibited from investing in U.S. Treasury bonds and bills.
In a struggling economy, the city’s finance director should have more flexibility and options for investments, particularly conservative ones like Treasury bonds, Wozniak told the Chronicle.
Opponents of the repeal contend that nuclear weapons and nuclear energy still pose a threat to Berkeley and that the city should maintain its commitment to staying completely nuclear free.
The Nuclear Free Berkeley Act was approved by voters in 1986.