2002 Senate Bill 1137 ↩

Senate Roll Call 669: Passed

To place a $1 billion statewide school infrastructure bond issue on the November, 2002 general election ballot. See the Senate-passed version of <a href="/bill.asp?ID=5053">Senate Bill 142</a>, to which the bill has been tie-barred, for a description of the distribution priority formula for the new debt proceeds. The Senate Fiscal Agency estimates the approximate debt service expense (interest cost) at $584 million, depending on the interest rate and how long the bonds are outstanding, for a total cost of some $1.584 billion over 20 years.