$9 Billion School Bond Qualifies for California State Ballot for November 2016
Sept. 22, 2015 | By The Allen Young | www.bizjournals.com
EXCERPT: A ballot initiative for a $9 billion school construction bond has qualified for the Nov. 2016 ballot, Secretary of State Alex Padilla announced Monday.
The initiative is pushed by a school facilities advocacy group that says it hopes to expand its coalition to construction groups across the state.
“We’re hoping for more builders, subcontractors, and others involved in public education,” said David Walrath, a consultant from the Coalition for Adequate School Housing, a school facilities advocacy group.
As it has in the past, the upcoming campaign will focus on expanding access to quality schools across the state, said Walrath.
Last year, Gov. Jerry Brown opposed a $9 billion school bond under the argument that the law would add unnecessary debt. Brown has said he wishes to overhaul the school facility funding process into a system where the state would pay to construct and modernize schools in areas that could not raise funding through a local ballot initiative.
Under the current school funding system, local entities must pledge 50 percent toward the cost of constructing a new school.
The November initiative would include $3 billion for new construction, $3 billion for modernization, $1 billion for charter school construction and $2 billion for community colleges. It would ultimately cost the state $17.6 billion over 35 years including interest, the Secretary of State said. ...
Statewide Report Criticizes Passage of School Bonds
July 24, 2015 | By Mackenzie Mays | www.fresnobee.com
HIGHLIGHTS: - California Policy Network says bonds create massive debt, conflicts of interest
- School officials say bonds are necessary to build best facilities for students...
EXCERPT: More than 80% of proposed school bond measures - about $110 billion - have passed in California since 2001 after Proposition 39 reduced the voter threshold required for approval, according to a new report from the California Policy Center. (Executive Summary) While bonds have allowed hundreds of districts to build and renovate facilities over the past decade, the California Policy Center - a nonprofit think tank - claims that in some cases, school bonds are unnecessary, and their increasing prevalence is leading to massive debt. The report calls for more oversight and a push for transparency regarding bond issues, saying many voters don't have a clear picture of what they're approving. Bonds also perpetuate conflicts of interest with contractors who would benefit from their approval, according to the report. "With each successive bond passage, California's fiscal situation worsens," said Ed Ring, executive director of the California Policy Center, who co-wrote the report. "Propped up by dark money, complexity and a political-industrial-financial complex, these bonds are passed off as free money 'for the kids.' But they are little more than massive fiscal obligations, meaning the only thing 'for the kids' is the massive tax bill that awaits." The report urges state legislators to make campaign contribution reports related to bond measures more accessible to the public and to prohibit contractors and other potentially self-interested corporations from being involved in a bond's passage. ... California voters could be asked next year to approve an additional statewide bond measure that would allow the state to borrow $9 billion for K-12 and community college facilities. Gov. Jerry Brown has fought against the measure, calling for change in how state and local governments fund school construction. ... To read the complete article, please visit:
For the Kids: California Voters Must Become Wary of Borrowing Billions More from Wealthy Investors for Educational Construction (Full Report): http://californiapolicycenter.org/wp-content/uploads/sites/2/2015/07/CPC_School_Bond_Study_July_2015.pdf
CaLBOC 4th Annual
May 19, 2015
CaLBOC May 9, 2014 Statewide Conference Presentation:
Pay to Play in School Bond Measures What it is and
Why it is Wrong
Presented by Lori Raineri of Governmental Financial Strategies www.CaLBOC.org
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