This thirteen billion fifty million dollar ($13,050,000,000) bond issue will provide funding for necessary education facilities to relieve overcrowding and to repair older schools. Funds will be targeted to areas of the greatest need and must be spent according to strict accountability measures. Funds will also be used to upgrade and build new classrooms in the California Community Colleges, the California State University, and the University of California, to provide adequate higher education facilities to accommodate the growing student enrollment. These bonds may be used only for eligible projects. Fiscal Impact: State cost of about $26.2 billion over 30 years to pay off both the principal ($13.05 billion) and interest ($13.15 billion) costs on the bonds. Payments of about $873 million per year.