California Proposition 143 (1990)

From Ballotpedia

California Proposition 143, or the Higher Education Facilities Bond Act of 1990, was on the November 6, 1990 ballot in California as a legislatively-referred state statute, where it was defeated.

• Yes: 3,449,401 (48.8%)
• No: 3,619,457 (51.2%)

If Proposition 143 had been approved, it would have authorized the issuance of $450 million in general obligation bonds for the construction or improvement of facilities of California's public higher education institutions.

Fiscal impact

The fiscal estimate provided by the California Legislative Analyst's Office said:

For these types of bonds, the state typically makes principal and interest payments from the state's General Fund over a period of about 20 years. If all of the bonds authorized by this measure are sold at an interest rate of 7.5 percent, the cost would be about $805 million to pay off both the principal ($450 million) and interest (about $355 million). The average payment for principal and interest would be about $34 million per year.

External links

• Hastings California I&R database
• Los Angeles Law Library, 1990 ballot propositions
• November 1990 election results (pages 9-10)

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