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On November 5th, California voters approved
Proposition 47, the state bond measure that will provide $13
billion for school facilities, by a 59%-to-41% margin. For
complete election returns and a county-by-county results,
visit the Secretary
of State's web site.
May 16, 2002
UC Regents Endorse Education Bond
Measures
The University of California Board of Regents
today (May 16) endorsed the Facilities Bond Acts of 2002 and
2004, which would provide funding for K-12 and higher education
facility needs over the next four years.
The 2002 Bond Act, which goes before voters
this November, would authorize more than $11.4 billion for
K-12 and $1.65 billion for higher education capital projects.
The 2004 Bond Act would authorize $10 billion for K-12 and
$2.3 billion for higher education.
AB 16, the measure by Assemblyman Robert
M. Hertzberg (D-Van Nuys) that created the bond issues, also
authorizes $651.3 billion in lease revenue bond funding for
higher education that does not require voter approval.
In all, AB 16 authorizes a total of $27 billion
in general obligation bond funds over four years to help fund
K-12 and higher education facility needs. The measure received
overwhelming bipartisan support in the Legislature.
"If passed by California's voters, the
two bond measures will provide funding to accommodate enrollment
growth, improve the seismic safety of many UC buildings and
modernize many outdated facilities," UC President Richard
C. Atkinson said. "I believe it represents a crucial
investment in California's future."
UC would receive approximately $345 million
per year for capital outlay for the four-year period covered
by the Bond Acts.
The California State University and the California
Community Colleges would also receive capital projects funding.
Over the next four years, the University
of California's projected capital needs total $600 million
per year. The university expects enrollment growth of approximately
63,000 additional students between 2000-2010
Contact: UC Office
of the President, Strategic Communications
(510) 987-9200
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