Election Roundup: Calif. $9B Measure Wins
The largest bond proposition on ballots Tuesday, a $9 billion California statewide measure that provides school districts, community college districts and charter schools with matching state funds for school construction, was approved, while Golden State voters rejected a proposal to require a vote if the state wants to issue more than $2 billion of revenue bonds.
The $9 billion measure will provide $3 billion for new construction, $3 billion for modernization of K-12 schools, $1 billion for charter schools and vocational education, and $2 billion for community colleges.
In Texas, Arlington voters approved a plan to raise $500 million through sales taxes to help build a new stadium for the Texas Rangers baseball club.
California voters appeared to have approved the San Francisco Bay Area Rapid Transit Authority's request for $3.5 billion GOs, backed by a property tax increase.
The Los Angeles Community College District's $3.3 billion request for bond authority under Ballot Measure CC, was approved, and Long Beach Unified School District appeared to have approval for $1.5 billion for air conditioning, athletic fields and other capital projects.
Los Angeles voters also said "yes" to a $1.2 billion city homeless bond plan. Santa Clara County's measure A, which would provide $950 million for housing in an effort to curb homelessness, was reported too close to call.
Capistrano Unified School District rejected a request for $889 million in bonds. Chino Valley USD, which appeared to have been approved, is now trailing. San Juan Unified received approval for $750 million of bonds. San Jose–Evergreen Community College District voters approved $748 million of issuance, while San Francisco USD gave the district $744.25 million.
Austin, Texas, voters approved $720 million in bonds for transportation and mobility projects, while El Paso ISD got $669 million.
Back to California, Oakland voters approved $600 million of bonds to improve infrastructure and build affordable housing, and Alameda County voters said the county can issue $580 million of bonds to build affordable housing. College of the Desert will get $577.86 million for renovation and expansion.
Denver, Colo., SD 1 received $572 million of bond authorization, but Jefferson Co. SD R-1, Colo., failed to get approval for $535 million in bonds.
The East Side Union High School District's $510 million referendum was approved voters. Kern Community College District got $502.82 million of bonds to allow it to expand. Elk Grove Unified School District will be able to sell $476 million to make repairs and perhaps build new schools.
Columbus, Ohio, received approval on $950 million in bonds, with the largest portion being $460 million that would be used for utilities improvement. The $950 million includes $310 million mostly for street and highway projects.
The Auburn, Wash., SD 408 was approved for $456.056 million for construction, equipment and rebuilding.
MiraCosta Community College District in California can bond $455 million for construction.
San Antonio ISD voters approved $450 million of bonds to update schools that the superintendent said haven't been worked on in nearly 50 years.
North Clackamas School District 12, Ore., passed a $433 million bond.
California's Southwestern CCD received a $400 million bond authorization for infrastructure repair, while Riverside USD got $392 million for upgrades, repairs and improvements to its schools 33 of which are more than 40 years old and five are more than 100 years old. Antelope Valley CCD has a $350 million request. Grossmont-Cuyamaca CCD's request for $348 million for infrastructure was rejected, while Santa Monica CCD got approval for $345 million for a laundry list of projects.
Alpine SD in Utah will be able to sell $387 million bonds. Poudre SD R-1 in Colorado is asking voters for $375 million of bond authority, and the effort was failing but reversed in later voting and passed, while Adams County SD 12 voters approved a $350 million ballot question and Adams-Arapahoe Joint SD 28 was approved for $300 million. Southeast CCD in Nebraska's request for $369 million for renovations and construction was turned down by voters. Forsyth County, N.C., schools was approved for $350 million to build two schools and fix four others.
In Texas, Spring ISD voters gave a thumb's up for $330 million, mostly for facilities and technology.
Glendale CCD's $325 million bond vote for renovating, repairing and remodeling facilities, Anaheim Elementary School District's $318 million for equipment and facility upgrades, Garden Grove USD's $311 million, and Pomona USD's $300 million referenda all passed.
"The passage of so many of these bond referendums plays into what [our firm] has been saying," said Dan Heckman, senior fixed income strategist U.S. Bank Wealth Management. "Voters' appetite for these type of projects is strong."
Click here for a list of all bond sales over $100 million, and results, where available.