California Proposition 153, Higher Education Construction and Improvements Bond Measure (June 1992)
| California Proposition 153 | |
|---|---|
 | |
| Election date June 2, 1992 | |
| Topic Bond issues and Education | |
Status Approved | |
| Type Bond issue | Origin State Legislature |
California Proposition 153 was on the ballot as a bond issue in California on June 2, 1992. It was approved.
A "yes" vote supported authorizing the state legislature to issue $900 million in bonds to fund the construction or improvement of California's public college and university facilities. |
A "no" vote opposed authorizing the state legislature to issue $900 million in bonds to fund the construction or improvement of California's public college and university facilities. |
Proposition 153 authorized a bond issue of $900 million to fund the construction or improvement of California's public college and university facilities. According to the text, authorized projects for the 138 public campuses were to include, but not be limited to, earthquake and other health safety improvements, modernization of laboratories to keep up with scientific advances, and construction of classrooms and libraries.
Election results
|
California Proposition 153 |
||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
|
|
2,967,657 | 50.84% | ||
| No | 2,869,403 | 49.16% | ||
Text of measure
Ballot title
The ballot title for Proposition 153 was as follows:
| “ | HIGHER EDUCATION FACILITIES BOND ACT OF JUNE 1992 | ” |
Ballot summary
The ballot summary for this measure was:
| “ |
•This act authorizes a bond issue of nine hundred million dollars ($900,000,000) to fund the construction or improvement of California's public college and university facilities. •Authorized projects for the 138 campuses shall include, but are not necessarily limited to, earthquake and other health safety improvements, modernization of laboratories to keep up with scientific advances, and construction of classrooms and libraries. | ” |
Full Text
The full text of this measure is available here.
Fiscal impact
The fiscal estimate provided by the California Legislative Analyst's Office said:[1]
| “ | 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 percent, the cost would be about $1.56 billion to pay off both the principal ($900 million) and interest (about $660 million). The average payment for principal and interest would be about $78 million per year.[2] | ” |
Path to the ballot
A simple majority vote was needed in each chamber of the California State Legislature to refer the measure to the ballot for voter consideration.
The California State Legislature voted to put Proposition 153 on the ballot in Senate Bill 119 (Statutes of 1992, Chapter 13). The vote in the state House was 66-6 and the vote in the Senate was 31-1.[1]
See also
External links
- June 2, 1992 Official Voter Guide
- Hastings California I&R database
- Statement of vote, California June 2, 1992 statewide elections
- Los Angeles Law Library, 1992 ballot propositions
- ↑ 1.0 1.1 UC Chastings, "June 1992 primary voter guide," accessed July 27, 2021
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
