Endorsement: Vote no on Proposition 13 school bond measure

For starters, as the Howard Jarvis Taxpayers Association notes, it’s hard to fathom why a state with a $7 billion surplus would float a huge school construction bond that with interest would cost taxpayers $740 million a year for 35 years — $11 billion in estimate interest over the life of the bond. And because local school districts must come up with matching funds to access these state revenues, more and more districts will resort to floating general obligation bonds that need only 55% support to pass — bonds paid off with property tax increases.

Click here to read the article in the San Diego Union Tribune.