The board adopted a “support” position for the state to issue $9 billion in bonds to fund improvement and construction of school facilities for K-12 schools and community colleges.
Ballot Summary: Authorizes $9 billion in general obligation bonds for new construction and modernization of K–12 public school facilities; charter schools and vocational education facilities; and California Community Colleges facilities. Fiscal Impact: State costs of about $17.6 billion to pay off both the principal ($9 billion) and interest ($8.6 billion) on the bonds. Payments of about $500 million per year for 35 years.
