The projects included in the February 13 bond measure to relieve overcrowding and enhance student learning environments will be funded by two sources: State School Construction Funding Assistance Program and voter approved bonds.

State School Construction Funding Assistance Program: $15 million

The state provides limited assistance to school districts for construction or renovation of school buildings. State construction funding assistance:

• Requires the school district to secure local funding, such as a bond measure, first.
• Is based on a pre-1979 model that does not reflect current educational programs or needs.
• Only pays for a fraction of the cost to build new schools.

Bond measure: $299 million

Bond measures are the primary method that most districts in the state use to raise money to build new schools.

The district sells bonds to investors, promising to pay interest and eventually to pay back the original amount, or principal, to the investors. The principal is paid off based on bond maturity lengths, which can be up to 20 years.

It takes 60 percent voter approval to authorize bonds.

Bond Program Projects and Costs

*Project costs include construction costs estimated in 2016 dollars; non-construction costs and estimated inflation.