Would authorize the School District to borrow up to $790 million by issuing general obligation bonds. The School District may use these bond funds to improve, repair and upgrade any of its sites to: address health and safety risks by making seismic upgrades, improving accessibility for people with disabilities, fixing damaged buildings and removing hazardous materials; repair and replace major building systems; modify building interiors, such as classrooms, and exteriors, including playgrounds, fences and gates, fields and bleachers, and landscaping; add or expand existing classrooms or school buildings, including portable classrooms and transitional kindergarten facilities; upgrade security and technology infrastructure; build or renovate common, administrative or athletic areas; construct a new central food hub; replace temporary classroom facilities with permanent structures; perform work necessary to comply with applicable codes or regulations. Prop A is a bond measure that requires 55% affirmative votes to pass.
Fiscal Impact: Prop A will likely require an increase in the property tax to pay principal and interest on the bonds. From FY 2025-2026 through FY 2047-2048, the average tax rate for these bonds is $0.01295 per $100 ($12.95 per $100,000) of assessed valuation. Based on these estimates, the highest estimated annual property tax cost for these bonds for the owner of a home with an assessed value of $700,000 would be approximately $129.45. The best estimate of total debt service, including principal and interest, that would be required to be repaid if all proposed $790 million in bonds are issued and sold, would be approximately $1.298 billion.
Next San Francisco County Measure: Measure B