FOR IMMEDIATE RELEASE
Thursday, May 16, 2002
Michael Reese(510) 987-9179
UC Regents Endorse Bond Measures
The University of California Board of Regents today (May
16) endorsed the Facilities Bond Acts of 2002 and 2004, which
would provide funding for K-12 and higher education facility
needs over the next four years.
The 2002 Bond Act, which goes before voters this November,
would authorize more than $11.4 billion for K-12 and $1.65
billion for higher education capital projects. The 2004 Bond
Act would authorize $10 billion for K-12 and $2.3 billion
for higher education.
AB 16, the measure by Assemblyman Robert M. Hertzberg (D-Van
Nuys) that created the bond issues, also authorizes $651.3
billion in lease revenue bond funding for higher education
that does not require voter approval.
In all, AB 16 authorizes a total of $27 billion in general
obligation bond funds over four years to help fund K-12 and
higher education facility needs. The measure received overwhelming
bipartisan support in the Legislature.
"If passed by California's voters, the two bond measures
will provide funding to accommodate enrollment growth, improve
the seismic safety of many UC buildings and modernize many
outdated facilities," UC President Richard C. Atkinson
said. "I believe it represents a crucial investment in
UC would receive approximately $345 million per year for
capital outlay for the four-year period covered by the Bond
The California State University and the California Community
Colleges would also receive capital projects funding.
Over the next four years, the University of California's
projected capital needs total $600 million per year. The university
expects enrollment growth of approximately 63,000 additional
students between 2000-2010.
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