California Voters Asked for Approval to Borrow $156 Billion for School Construction Since 2002

California voters are generally unaware of how much money K-12 school districts and community college districts have borrowed in recent years to fund construction projects.

Nor are they aware of the amount of principal and interest (debt service) these districts now owe to municipal bond investors.

But a compilation of all local educational construction bond measures considered in California since the passage of Proposition 39 in November 2000 (and the resulting reduction of the voter threshold for approval of a bond measure from 2/3 to 55%) shows a relentless government quest to borrow money for school construction and pay it back later.