Market Watch: Funding

Dec. 1, 2000
California lowers school bond threshold School districts in California will have an easier time acquiring funds for construction projects, thanks to a statewide proposition approved by voters. By approving Proposition 39, voters have loosened the ...

California lowers school bond threshold School districts in California will have an easier time acquiring funds for construction projects, thanks to a statewide proposition approved by voters.

By approving Proposition 39, voters have loosened the requirements for schools to pass bond issues. Instead of needing support from two-thirds of the voters, districts now need only 55 percent. School officials have complained that the higher threshold was an unreasonably difficult standard to meet in a state with critical facilities needs.

Earlier this year, Californians rejected a more ambitious proposal that would have lowered the approval threshold to a simple majority.

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