SACRAMENTO (CBS13) — Proposition 4 has passed. It is a bond measure aimed at helping construct, expand and renovate hospitals that treat children.
The proposition was placed on the ballot by petition signatures and would create $1.5 billion in funds through bond sales.
Funds will go to three purposes:
- 18 percent would go to grants available to five UC children’s hospitals, including UC Davis.
- 72 percent would go to grants for other children’s’ hospitals.
- 10 percent would go to hospitals that provide pediatric hospitals to children eligible for the California Children’s Services Program.
The $1.5 billion bond will be repaid at a rate of $80 million a year for 35 years.