The fourth of five of the Governator’s infrastructure initiatives is a school funding bond act. If approved, $10.416 billion of bonds would be issued, costing around $680 million a year for 30 years to payoff. Yikes!
Again, the goal of the act is laudable: repair and upgrade of old schools, increasing classrooms where needed due to growth, and seismic retrofitting. The question that I have is could this be done without the issuance of a huge new bond measure? Unfortunately, in California’s political climate, the answer is likely no.