Bond Question 3: Higher Education, Special Schools and Tribal Schools Capital Improvements

The question on the ballot

The 2026 Capital Projects General Obligation Bond Act authorizes the issuance and sale of higher education, special schools and tribal schools capital improvement and acquisition bonds. Shall the state be authorized to issue general obligation bonds in an amount not to exceed three hundred fifty-two million two hundred twenty five thousand three hundred seventy-nine dollars ($352,225,379) to make capital expenditures for certain higher education, special schools and tribal schools capital improvements and acquisitions and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law?[2][1]

Asks voters to authorize the state to issue general obligation bonds not to exceed $352,225,379 for capital improvements and acquisitions at certain higher education institutions, special schools and tribal schools. Repayment of principal and interest is by a statewide property tax levy. The guide says the State Board of Finance will set the final rate and estimated cost after the election, with bonds generally issued with maturities up to eleven years, and that the amount of property tax collected depends on existing and new debt service, assessed valuation, interest rates and timing.[1]