The school district Board of Education voted 6-1 Wednesday night in Malibu to place a $385-million bond measure on the November voting ballot. The bond would be used for facilities upgrades in the Santa Monica-Malibu Unified School District. In order for the bond to go into effect, at least 55 percent of Malibu and Santa Monica voters must vote in favor of it in November. If passed, it’s expected to cost the average homeowner approximately $185 per year, while renters would be charged roughly $16.
Malibu taxpayers are expected to foot approximately 31 percent of the bond money over the next 25 to 30 years if the bond passes. The school board on Wednesday night amended the resolution to guarantee that Malibu school projects receive at least 20 percent of the bond revenue.
If the bond passes, the district is required to use the money for capital improvements on facilities and not for other costs such as teacher salaries. Boardmember Ralph Mechur was the lone dissenting vote on the item.