Education Bonds Passed Throughout the U.S.

Many laws have been passed to enhance public school infrastructure across the U.S.

 

Rhode Island Higher Education Bonds, Question 4 (2016)

URI – $45.5 million in general obligation bonds – higher education construction projects

Question 4 requires $45.5 million for construction projects at the University of Rhode Island.  $25.5 million will be allocated towards renovation and expansion  within the College of Engineering.  The $20 million left over will be utilized to created a URI-affiliated campus.

RI Democrat Gov. Gina Raimondo believes this measure is crucial to improving the state’s economy and quality of life.  However, Republican state Rep. Patricia Morgan  states that it will be a burden for their small state to borrow so much money and that the burden will fall on taxpayers to back the debt. After two decades, the interest of these bonds will grow.

Additional facts can be found on this page.

 

California Proposition 51, Public School Facility Bonds (2016)

CA Public Schools – $9 billion in general obligation bonds – improvement and construction of school facilities

Prop 51 authorizes $9 billion in general obligation bonds for new construction and modernization for public school facilities. The cost to the state will average around $17.6 billion to pay off the principal ($9 billion) and interest ($8.6 billion) on the bonds.  California’s payment will be $500 million per year for 35 years.

Supporters of Prop 51 believe it will create new jobs for California residents which will reduce college debt and boost the economy. Opponents state that Prop 51 will put California further into debt which California can’t afford. Also, the state officials will be given control over the bond money instead of locals controlling the funds.

To read more about this proposition, go to this site.

 

California Measure J, Education Bond Measure (2016)

Butte and Glenn Counties’ schools– $190 million in bonds- update and expand college facilities

Butte and Glenn County plan to enhance their classrooms and to increase safety relevant to electrical wiring, security, water conservation, and much more. More preparation opportunities for students transferring to universities is also a goal. The funds to pay the principal and the interest will come from property taxation.

Butte College reasons that the money from Measure J will help serve their students and veterans. More funding is vital to address urgent and basic repairs to the school and educational programs. Opponents make a case that the schools need to budget for maintenance instead of buying/building all brand new. The cost of maintenance will be much lower and will not cost the tax payers as much money.

More information about Measure J can be viewed here.