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California Proposition 152, Bonds for Public Schools (1992)

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California Proposition 152 was on the June 2, 1992 ballot in California as a legislatively-referred bond act, where it was approved.

Proposition 152 provided for a bond issue of $1.9 billion to provide capital outlay for construction or improvement of public schools.

Election results

Proposition 152
Approveda Yes 3,119,441 52.92%

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 the ballot

The California State Legislature voted to put Proposition 155 on the ballot in Assembly Bill 880 (Statutes of 1992, Chapter 12).

External links