The bonds sold as a result of passing Proposition L will be 20-year bonds. That being said, when the district identifies opportunities to restructure the debt to reduce the cost, the term can sometimes be shortened.

Payments for previous bond issues passed prior to Prop L will be complete by 2031 and 2036. Of the current $0.78, approximately half of the levy ($.39) will be eliminated beginning in 2031, with the remaining ($0.39) being eliminated in 2036. Please note that these exact figures are for example only. Market conditions, property tax values and a number of other factors will play into the exact rate reductions and timing.