SCHOOL BONDS. FUNDING FOR K–12 SCHOOL AND 51 COMMUNITY COLLEGE FACILITIES. INITIATIVE STATUTE
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.
What Your Vote Means
A yes on this measure means: The state could sell $9 billion in general obligation bonds for education facilities ($7 billion for K–12 public school facilities and $2 billion for community college facilities).
A no on this measure means: The state would not have the authority to sell new general obligation bonds for K–12 public school and community college facilities.
Our children deserve safe schools where they can learn, but many schools and community colleges need repairs to meet health and safety standards. Prop. 51 will fix deteriorating schools, upgrade classrooms, and provide job-training facilities for veterans and vocational education. All projects are accountable to local taxpayers.
Prop. 51 was created for greedy developers to exploit taxpayers for profit. Prop. 51 stops legislators from providing fair school funding. Disadvantaged schools are left behind. There’s no improvement in taxpayer accountability. It does nothing to fight waste, fraud and abuse. Governor Brown opposes Prop. 51. Vote NO on 51.