Attorney General No.
Secretary of State No.
SCHOOL FACILITIES. 55% LOCAL VOTE. BONDS, TAXES. ACCOUNTABILITY REQUIREMENTS. INITIATIVE CONSTITUTIONAL AMENDMENT AND STATUTE. Authorizes bonds for construction, reconstruction, rehabilitation or replacement of school facilities if approved by 55% vote for projects evaluated by schools, community college districts, county education offices for safety, class size, and information technology needs. Accountability requirements include annual performance and financial audits on use of bond proceeds. Prohibits use of bond proceeds for salaries or school operating expenses. Requires facilities for public charter schools. Authorizes property taxes in excess of 1% limit by 55% vote, rather than current two-thirds, as necessary to pay school bonds. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: This measure would result in the following major fiscal effects: (1) Increased debt costs for many school districts, depending on local voter approval of future school bond issues and varying by individual district. Statewide, costs could be in the hundreds of millions of dollars each year within a decade; and (2) Unknown effect on state costs. Potential longer-term state savings to the extent local school districts assume greater responsibility for funding school facilities.
Joseph Remcho Remcho, Johansen & Purcell, 220 Montgomery Street, Suite 800, San Francisco, Ca 94104 (415) 398-6230
School Facilities. 55% Local Vote. Bonds, Taxes. Accountability Requirements. California Initiative 901 (2000).