School Bond Information, April 4, 2006 Election
State Debt Reimbursement for School Bond Debt
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Many of the projects on the three school bond propositions qualified for
at least 60 percent state reimbursement funding throughout the 20-year
life of the bonds. But to get the reimbursement, the projects must have been approved by voters by October 31, 2006.
| Projects approved by voters after October 31 are not covered by any existing state reimbursement plan and would be funded entirely by local taxes. |
Although the projects have been approved by the state as eligible for
reimbursement, the year-to-year funding of the reimbursement plan is
subject to annual legislative appropriation.
The state has provided various bond debt reimbursement plans since
1976. Past practice is not a guarantee of future performance, but following
is a year-by-year history of how much of its debt reimbursement obligation
each year's legislature actually funded:
| Fiscal Year |
Eligible for reimbursement
(State commitment) |
Legislative appropriation
(Actually funded) |
Percent of eligible amount
that was actually funded |
| 1976 |
$9,242,312 |
$8,810,500 |
95.33% |
| 1977 |
$10,107,336 |
$9,051,600 |
89.55% |
| 1978 |
$11,408,304 |
$11,408,304 |
100% |
| 1979 |
$27,868,182 |
$22,273,300 |
79.92% |
| 1980 |
$30,823,133 |
$24,081,000 |
78.13% |
| 1981 |
$38,380,174 |
$38,380,174 |
100% |
| 1982 |
$38,262,156 |
$38,262,156 |
100% |
| 1983 |
$60,772,910 |
$56,169,700 |
92.43% |
| 1984 |
$90,600,074 |
$90,600,074 |
100% |
| 1985 |
$93,161,981 |
$93,161,981 |
100% |
| 1986 |
$109,707,936 |
$106,315,600 |
96.91% |
| 1987 |
$125,272,615 |
$115,845,000 |
92.47% |
| 1988 |
$118,701,313 |
$109,472,700 |
92.23% |
| 1989 |
$118,469,048 |
$110,193,451 |
93.01% |
| 1990 |
$113,923,479 |
$107,374,886 |
94.25% |
| 1991 |
$123,959,155 |
$116,276,078 |
93.80% |
| 1992 |
$127,245,080 |
$127,245,080 |
100% |
| 1993 |
$124,948,218 |
$124,948,218 |
100% |
| 1994 |
$98,648,541 |
$98,648,541 |
100% |
| 1995 |
$93,742,116 |
$93,742,116 |
100% |
| 1996 |
$79,212,669 |
$79,212,669 |
100% |
| 1997 |
$62,476,074 |
$62,476,074 |
100% |
| 1998 |
$61,639,666 |
$61,639,666 |
100% |
| 1999 |
$61,990,844 |
$61,990,844 |
100% |
| 2000 |
$64,349,790 |
$64,349,790 |
100% |
| 2001 |
$52,098,690 |
$52,098,690 |
100% |
| 2002 |
$54,057,200 |
$54,057,200 |
100% |
| 2003 |
$51,969,968 |
$51,969,968 |
100% |
| 2004 |
$60,592,525 |
$60,592,525 |
100% |
| 2005 |
$72,025,177 |
$72,025,177 |
100%
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 If you have comments or questions regarding these bonds, call 907-742-4153 or e-mail us using our Bond comment box
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