Public Information Office
Prop 47 Fact Sheet Name: Proposition 47 – The Kindergarten-University Public Education Facilities Bond Act of 2002 Election day: Tuesday, November 5, 2002 Value: $13.05 billion statewide, $259.5 million valleywide Local impact: All publicly funded SCV school and college districts will benefit as follows: - Wm. S. Hart Union High School District – $186.8 million (approximate)
- Newhall School District – $17.2 million
- Sulphur Springs School District – $16.1 million
- Saugus Union School District – $9.9 million
- Castaic Union School District – $8 million
- Santa Clarita Community College District (COC) – $22 million
SCV school deficit: 14 (population warrants at least 14 more schools)
Method of bond repayment: Bonds will be repaid through the state’s general fund. Property owners will not be taxed. Prop 47 acts as a reprioritization of tax dollars to help rebuild the state's public education system. Restrictions: Bond money can be used only for school construction and renovation – not bureaucracy or overhead. All bond expenditures are subject to mandatory audits and specific accountability standards. Fund availability: As soon as bonds are sold, anticipated to be July 1, 2003 for College of the Canyons. Start of construction projects: Start dates vary by district, but many projects would commence in 2003. For example: - College of the Canyons anticipates breaking ground on its High-Tech Classroom/Lab Building in the fall of 2003.
- In the Castaic District, Prop 47 would benefit Northlake School, set to open in fall 2003, and Sloan Canyon School, set to open in fall 2004.
- In the Sulphur Springs District, Prop 47 would repay $13.2 million loan used to build Fair Oaks Ranch Elementary, which opened in August 2002. Prop 47 also would help modernize and expand Leona Cox and Mint Canyon elementary schools – each would receive 15 new classrooms and new multi-purpose building.
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