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Proposition P Bond Program

construction photo

Proposition P Bond Program

Prop P, approved by the voters in November 2007, issued four bonds in the total amount of $197,996,000.00. The four different bonds comprised of traditional current interest bonds, capital appreciation bonds (“CAB”), convertible capital appreciation bonds and QSCB federally subsidized bonds. Using the different bond types allowed the debt service payments to be more evenly distributed over the life of the bonds. This also enabled the district to have access to the full bonding amounts sooner so construction and modernization projects could proceed quickly.

Final Prop P Projects to be completed:

Sage Creek High School Performing Arts Center

Valley Middle School Locker Room and Science Lab Facility

Cultural Art Center Modernization

Contact the Prop P Oversight Committee at: ppoc@carlsbadusd.net