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Bond Act
Put on the Ballot by the Legislature
Summary
This thirteen billion fifty million dollar ($13,050,000,000) bond issue will provide funding for necessary education facilities to relieve overcrowding and to repair older schools. Funds will be targeted to areas of the greatest need and must be spent according to strict accountability measures. Funds will also be used to upgrade and build new classrooms in the California Community Colleges, the California State University, and the University of California, to provide adequate higher education facilities to accommodate the growing student enrollment. These bonds may be used only for eligible projects. Fiscal Impact: State cost of about $26.2 billion over 30 years to pay off both the principal ($13.05 billion) and interest ($13.15 billion) costs on the bonds. Payments of about $873 million per year.
What Your Vote Means
Yes
A YES vote on this measure means: The state could sell $13.05 billion in general obligation bonds for the construction and renovation of public education facilities (kindergarten through 12th grade and higher education). |
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No
A NO vote on this measure means: The state could not sell $13.05 billion in general obligation bonds for these purposes. |
Arguments
Pro
MORE CLASSROOMS and BETTER SCHOOLS, WITHOUT RAISING TAXES. We need 13,000+ new classrooms! 47 ensures CRITICALLY OVERCROWDED districts get their FAIR SHARE to build classrooms, REPAIR old ones and improve SAFETY. Strict ACCOUNTABILITY and AUDITS required. California PTA, California Teachers Association, California Taxpayers’ Association, Chamber of Commerce: "YES on 47" |
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Con
Under Prop 47, the most needed schools aren’t required to begin construction for 6 1/2 years. This bond favors LAUSD over every other district in the state. Proposition 47 is the wrong solution to our school facilities crisis, poorly written, patently unfair and will raise your taxes. |
For Additional Information
For
Yes on 47 for Accountability and Better Schools: a coalition of taxpayers, parents, teachers, seniors, educators, builders and business
111 Anza Blvd., Suite 406
Burlingame, CA 94010
650-340-0470
info@yesprop47.com
www.yesprop47.com
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Against
No contact information was provided.
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