School Bond Mania Gets Worse

By Craig Huey

Back in 2000, voters approved Proposition 39, which dropped the requirement that 2/3 of the local electorate must approve bonds for school construction and repair. Proposition 39 would lower the approval requirement to 55% of the votes.

The results are predictable—it's now too ridiculously easy to pass the bond measures, which means a greater financial burden on taxpayers.

From 2001–2005, an incredible 86% of bonds passed under Proposition 39. This is in contrast to 1986–2005 when only 55% of bonds passed.

Bonds can be filled with waste and unnecessary items. And the reality is, they are the most expensive way to finance a project since the interest, lawyers and bond people wind up doubling the actual costs of any project.

For every $1 spent on education, about $2 from the taxpayer is needed. It's wasteful!