- This nine billion two hundred million dollar ($9,200,000,000) bond issue will provide funding for necessary education facilities for at least four years for class size reduction, to relieve overcrowding and accommodate student enrollment growth and to repair older schools and for wiring and cabling for education technology.
- Funds will also be used to upgrade and build new classrooms in community colleges, the California State University, and the University of California.
- These bonds may be used only for eligible construction projects.
- Appropriates General Fund money to pay off bonds.
- State cost of about $15.2 billion to pay off both the principal ($9.2 billion) and interest ($6 billion) on the bonds.
- The average payment for principal and interest over 25 years would be about $600 million per year.
- State cost of $160 million to offset all or part of school-related development fees borne by certain homebuyers and renters.
- A YES vote of this measure means:
- The state would issue
$9.2 billion in general obligation
bonds for the construction and
renovation of public education
facilities (kindergarten through
twelfth grade and higher
education).
- A NO vote of this measure means:
- The state would not
issue $9.2 billion in general
obligation bonds for the
construction and renovation
of public education facilities
(kindergarten through twelfth
grade and higher education).
- Summary of Arguments FOR Proposition 1A:
- Proposition 1A provides desperately
needed funds for public schools, colleges
and universities without raising taxes.
Funds must be spent to build new schools,
repair and update old ones, wire for
technology, reduce class size and help
make schools earthquake safe. The money
cannot be used for any other purpose.
Full Text of Argument In Favor,
Rebuttal
- Summary of Arguments AGAINST Proposition 1A:
- Bonds are the most expensive possible
way to build schools--costing $1.70
in taxes for every $1.00 of schools.
Prop. 1A will cost average families
$2,000 in taxes to re-pay.
Pay-as-you-go financing would have
provided 70 percent more school
construction--but Sacramento
politicians preferred welfare increases
and political pork projects.
Full Text of Argument Against,
Rebuttal
- Contact FOR Proposition 1A:
- Californians for Yes on Prop. 1A
1130 K Street, Suite 210
Sacramento, CA 95814
Jim Murdoch (916) 448-8577
- Contact AGAINST Proposition 1A:
- Assemblyman Tom McClintock
1127 11th Street, Suite 216
Sacramento, CA 95814
(916) 448-9321
Fax: (916) 456-3279
Stoos@msn.com
http://www.peoplesadvocate.org
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