California Proposition 152 (1992)
From Ballotpedia
California Proposition 152 was on the June 2, 1992 ballot in California as a legislatively-referred state statute, where it was approved.
- Yes: 3,119,441 (52.92%)
- No: 2,774,699 (47.08%)
Proposition 152 provided for a bond issue of $1,9 billion to provide capital outlay for construction or improvement of public schools.
Fiscal impact
The fiscal estimate provided by the California Legislative Analyst's Office said:
- Direct Costs of Paying Off the Bonds. For these types of bonds, the state typically would make 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 percent, the cost would be about $3.3 billion to pay off both the principal ($1.9 billion) and interest (about $1.4 billion). The average payment for principal and interest would be about $165 million per year.
Path to ballot
The California State Legislature voted to put Proposition 155 on the ballot in Assembly Bill 880 (Statutes of 1992, Chapter 12).
External links
- Hastings California I&R database
- Statement of vote, California June 2, 1992 statewide elections
- Los Angeles Law Library, 1992 ballot propositions
