Why are you asking for so much money?
Currently, the only dedicated funds available to the district to pay for infrastructure investments come from the Sinking Fund approved by voters in 2017. The district’s independent assessment of our facilities included costs to maintain our current buildings in “good” condition ($823M) but did not include other capital costs such as equipment, buses, technology, building additions, etc. (an additional $618M). The Sinking Fund will generate $222M through 2027 to partially cover these infrastructure needs, leaving a gap of more than $1.2B over the next 20 years.
If approved by voters, the bond will provide $1 billion and the remainder would be provided by future Sinking Fund authorizations.