To improve, repair, and modernize outdated Santa Monica classrooms, science labs, libraries, instructional technology and other school facilities; improve school safety/security systems; shall Santa Monica-Malibu Unified School District’s School Facilities Improvement District No. 1 (Santa Monica Schools) issue $485 million of bonds at legal interest rates, averaging $27.4 million raised annually to repay issued bonds through final maturity, from levies estimated at four cents per $100 assessed value, with citizens’ oversight, annual audits, and all funds benefitting Santa Monica schools?
3, Los Angeles County • 2018 • M
Passed
Result: 72.1% yes, 27.9% no (41,701 votes cast)
AI-generated plain-language summary
This measure authorized the Santa Monica-Malibu Unified School District to issue $485 million in bonds to improve, repair, and modernize school facilities including classrooms, science labs, libraries, and safety systems. The bonds would be repaid through property tax levies estimated at four cents per $100 of assessed value.