The San Diego Union-Tribune has endorsed Proposition E, the proposed bond measure aimed at providing much needed support to Coronado’s public schools over the next decade. The UT Editorial Board noted that the Coronado Unified School District has made a “compelling case” for a fiscally conservative short-term bond that is “unlike any they’ve ever seen.” This 10-year bridge of support, which would be completely paid off in 2024, would shore up the losses presented to the district by Coronado’s many years of redevelopment and the governor’s new education funding formula which relegates the school district to the lowest 8% of funded schools in the state.
The UT Editorial Board praised the district’s strong leadership in recent years and rightfully pointed out the district’s very nimble and fiscally conservative response to the onslaught of budgetary challenges posed by the recession these past years. Truthfully, were it not for this strength of leadership our district would be in far worse shape than it is today. They also made special note that this is not the district leadership of 2006, and this issue is not about swimming pools.
As the UT Editorial Board noted in its support, “the taxpayer protections in Proposition E are significant and go beyond the requirement that all bonds be paid off by 2024.” All issued bonds must be paid off within five years from issuance so there will be no long-term debt obligation to taxpayers, and the short-term bonds assure low interest rates.
The fact of the matter is that the crisis facing Coronado’s kids is very real and without this much-needed support, children entering our public schools this fall will experience an education program utterly decimated by state budget cuts. While the challenges we face are unprecedented, so to is the Coronado Unified School District’s response. Proposition E represents a well-crafted, fiscally conservative short term investment in the long term future of our children, and our community.
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