|This is a three-foot square model of the Library Addition/
A bond measure on the November ballot aims to generate $10.4 billion to improve facilities at California's schools, colleges and universities.
If approved, Proposition 1-D would create $690 million over the next two years for the California State University's capital facilities projects. Cal Poly Pomona is positioned to receive about $10.3 million.
If sufficient monies become available from Prop 1-D, another $31.4 million may be used for the new building for the College of Business Administration, which is also on the list of approved projects to receive Prop 1-D funding.
University of California would receive $890 million and California Community Colleges would receive $1.5 billion. K-12 districts would receive the remaining $7.3 billion.
The Legislative Analyst's Office estimates that the state would need to pay $680 million per year for 30 years to pay off the $10.4 billion bond.
While there is no organized opposition at this time, some have voiced concern about the cost of the bond for the state, the variety of new programs funded and the fact that it is designed to fund only two years of need.
Proponents argue that it is a fiscally responsible way to finance school repair and construction, makes schools earthquake safe, and does not bite off more than the state can afford now.
During Fall Convocation, university President Michael Ortiz urged people to educate themselves on the measure.
“I want to encourage each of you to pay close attention to a bond initiative on the November ballot,” Ortiz said. “Please take the time to learn about this important initiative as you prepare to vote in November.”
For more information about the bond aswell as arguments for and against the measure, visit www.ss.ca.gov/elections, click on the Voter Information Guide button and scroll down to Prop 1-D.