Debt! On November 6, 2012, California Voters Approved 91 Local Ballot Measures to Authorize Borrowing $13.3 Billion for Construction by Selling Bonds

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UPDATE: the California school bond results for the November 6, 2012 election have been revised on the excellent www.californiacityfinance.com web site managed by Michael Coleman. Go to Local Revenue Measures in California: Final Results (February 6, 2013 FINAL).


Below are the final November 6, 2012 election results of the 106 bond measures for K-12 school and community college districts in California, sorted from largest amount to smallest amount. These bond measures were proposed by a total of 105 districts, as Sacramento City Unified School District had two bond measures (totaling $414 million).

Out of the 106 bond measures on the ballot authorizing bond sales totaling $14,429,141,190, voters approved 91 of them, thereby authorizing educational districts to borrow up to $13,278,801,190 for construction by selling bonds. This includes the whopping $2.8 billion Proposition Z for the San Diego Unified School District.

Keep in mind that this $13.3 billion will need to be paid back to bond investors with interest! Assume that these 91 bond measures will cost taxpayers about $25 billion to repay.

Voters rejected 15 bond measures totaling $1,150,340,000. The big one that voters rejected was the $497 million Proposition EE for MiraCosta Community College.

So the success rate for approval of individual bond measures was 86%, and the success rate for approval of dollar amounts of proposed bond sales was 92%.

I compiled the charts below by cross-referencing the Ballotpedia entry for “School Bond Elections in California” (November 6, 2012) with the chart of final November 6, 2012 election results for “Local Revenue Measures in California” on the www.californiacityfinance.com web site. I then referred to official county election records to resolve discrepancies and to double-check final results for bond measures in which the results were close.

The information on www.californiacityfinance.com and www.ballotpedia.org is current and accurate as of February 11, 2013. (I contacted www.californiacityfinance.com about changes and made the changes on www.ballotpedia.org myself.)

The “preliminary and unofficial’ revised list of “November 6, 2012 Local School Bond and Parcel Tax Measures Results” posted on the Coalition for Adequate School Housing (CASH) web site is current only through November 20, 2012 – it has not been updated to show the final results.

Educational Bond Measures Approved by California Voters

November 6, 2012
Sorted by Highest to Lowest Amount Authorized for Borrowing Through Bond Sales
San Diego Unified, Proposition Z

$2,800,000,000

Chaffey Joint Union High, Measure P

$848,000,000

Coast Community College, Measure M

$698,000,000

Oakland Unified, Measure J

$475,000,000

San Dieguito Union High, Proposition AA

$449,000,000

Grossmont-Cuyamaca Community College, Measure V

$398,000,000

Santa Monica-Malibu Unified, Measure ES

$385,000,000

West Contra Costa Unified, Measure E

$360,000,000

Cerritos Community College, Measure G

$350,000,000

El Camino Community College, Measure E

$350,000,000

San Juan Unified, Measure N

$350,000,000

Solano Community College

$348,000,000

Sacramento City Unified, Measure Q

$346,000,000

San Jose Unified, Measure H

$290,000,000

San Ramon Valley, Measure D

$260,000,000

San Bernardino City Unified, Measure N

$250,000,000

Palmdale Elementary, Measure DD

$220,000,000

Morgan Hill, Measure G

$198,250,000

Rancho Santiago Community College, Measure Q

$198,000,000

Temecula Valley Unified, Measure Y

$165,000,000

Rowland Unified, Measure R

$158,800,000

Stockton Unified, Measure E

$156,000,000

Perris Union High

$153,420,000

Pajaro Valley Unified, Measure L

$150,000,000

Panama-Buena Vista Union, Measure P

$147,000,000

Tustin Unified, Measure S

$135,000,000

Covina-Valley Unified, Measure CC

$129,000,000

Temple City Unified, Measure S

$128,800,000

Alum Rock Union, Measure J

$125,000,000

East Side Union High, Measure I

$120,000,000

Lynwood Unified, Measure K

$93,000,000

Chula Vista Elementary, Measure E

$90,000,000

Inglewood Unified, Measure GG

$90,000,000

Oxnard Schools, Measure R

$90,000,000

Cajon Valley Union, Measure C

$88,400,000

Alvord Unified, Measure W

$79,000,000

Bellflower Unified, Measure BB

$79,000,000

Chico Unified, Measure E

$78,000,000

San Carlos Elementary

$72,000,000

Folsom Cordova Unified, Measure P

$68,000,000

Sacramento City Unified, Measure R

$68,000,000

Jefferson Elementary, Measure I

$67,500,000

Lancaster Elementary, Measure L

$63,000,000

Redondo Beach Unified, Measure Q

$63,000,000

Visalia Unified, Measure E

$60,100,000

Antioch High, Measure B

$56,500,000

Burlingame Elementary, Measure D

$56,000,000

Whittier City Elementary, Measure Z

$55,000,000

Castaic Union Elementary, Measure QS

$51,000,000

Sanger Unified, Measure S

$50,000,000

Hemet Unified, Measure U

$49,000,000

Jefferson Union High, Measure E

$41,900,000

Coachella Valley Unified, Measure X

$41,000,000

Kings Canyon Unified, Measure K

$40,000,000

Soledad Unified, Measure C

$40,000,000

Templeton Unified, Measure H

$35,000,000

La Habra City Schools, Measure O

$31,000,000

St. Helena Unified, Measure C

$30,000,000

South Bay Union, Measure Y

$26,000,000

Ripon Unified, Measure G

$25,236,190

McFarland Unified, Measure M

$25,000,000

Mount Pleasant Schools, Measure L

$25,000,000

Sonora Union High, Measure J

$23,000,000

Washington Unified, Measure W

$22,000,000

Hueneme Elementary, Measure T

$19,600,000

Escalon Unified, Measure B

$19,500,000

Mendota Unified, Measure M

$19,000,000

Westside Union Elementary, Measure WR

$18,510,000

Little Lake City, Measure EE

$18,000,000

Lindsay Unified, Measure L

$16,000,000

West Hills Community College, Measure L

$12,655,000

Antioch Union High, Measure C

$12,300,000

Caruthers Unified, Measure C

$12,000,000

Standard School, Measure Q

$11,200,000

Fortuna Union, Measure D

$10,000,000

Weaver Union, Measure G

$9,000,000

Wheatland Union, Measure U

$9,000,000

Somis Union, Measure S

$9,000,000

Delhi Unified, Measure E

$8,000,000

Summerville Union High, Measure H

$8,000,000

Brawley Elementary, Measure S

$7,500,000

Arcata Elementary, Measure F

$7,000,000

Roseland Schools, Measure N

$7,000,000

Spreckels Union, Measure B

$7,000,000

Gravenstein Union, Measure M

$6,000,000

Ocean View Schools, Measure P

$4,200,000

Nuview Union, Measure V

$4,000,000

Wilmar Union, Measure P

$4,000,000

Earlimart Schools, Measure H

$3,600,000

Dehesa Schools, Measure D

$3,000,000

Pacific Elementary, Measure M

$830,000

TOTAL

$13,278,801,190

 

Educational Bond Measures Rejected by California Voters

November 6, 2012
Sorted by Highest to Lowest Amount Not Authorized for Borrowing Through Bond Sales

 

MiraCosta Community College, Proposition EE

$497,000,000

Ocean View Schools, Measure P

$198,000,000

Yucaipa-Calimesa Joint Unified, Measure O

$98,000,000

Porterville Unified, Measure J

$90,000,000

Del Mar Union, Proposition CC

$76,800,000

Ramona Unified, Measure R

$66,000,000

Mountain Empire Unified, Measure G

$30,800,000

Fountain Valley, Measure N

$23,500,000

Santa Ynez Valley Union High, Measure L

$19,840,000

Willows Unified, Measure P

$14,700,000

College School District, Measure K

$12,000,000

Gridley Unified, Measure G

$11,000,000

Elk Hills, Measure O

$6,200,000

Butteville Union, Measure R

$3,500,000

Knightsen Elementary, Measure H

$3,000,000

TOTAL

$1,150,340,000

 

5 comments

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