• State Sells School Bonds; Level 3 Fee On Its Way Out

  • California Treasurer John Chiang sold $2.5 billion in state general obligation bonds last week, including $450 million for new school facilities that voters authorized in Proposition 51. The sale is the first step toward funding the state‚Äôs school facilities account and removing the first of two conditions that allowed the State Allocation Board (SAB) nine months ago to trigger Level 3 school impact fees for eligible school districts such as Dublin and Fremont. In the second step that will eliminate the remaining Level 3 fee prerequisite, the SAB is scheduled to meet on Sept. 6, 2017, and authorize spending the bond proceeds on school facilities. The precise end date for Level 3 fees is still uncertain but CBIA staff said they will work to expedite the matter. And school districts that attempt to impose Level 3 fees after rulings to the contrary would be on extremely shaky legal ground, they added. For questions or comments, contact any member of the BIA|Bay Area or CBIA governmental affairs staff.
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