ERIC Number: ED109735
Record Type: RIE
Publication Date: 1975
Reference Count: 0
Bond Sales for Public School Purposes 1973-74.
King, Irene A.; Barr, Richard
In 1974, approval of public school bond issues, averaging 56.2 percent of the dollar value and 53.0 percent of the number of issues voted on, reflected a decrease of 2.8 percent in dollar value and an increase of 8.3 percent in number of issues over the year before. These changes are the more significant in light of the downward trend of recent years. Since 1968 (when 67.6 percent of proposed bond issues were approved), approvals have declined, falling to lows of 46.7 and 47.0 percent during 1971 and 1972. In 1974 only seven states accounted for approximately $1.3 billion of the $2.2 billion approved value. Although approvals remained down, the $3.0 billion in reported bond sales was an increase of $50 million over the $2.9 billion of fiscal year 1973. The 1974 average net interest cost for all bonds of 5.35 percent was up 44 basis points from the 1973 average of 4.91 percent, indicating an increase in public school borrowing costs. The 6.49 percent monthly average net interest cost recorded for June 1974 was the highest since the 6.68 percent reported for June 1970. The number of bond sales has decreased over the past decade. (Author)
Descriptors: Bond Issues, Capital Outlay (for Fixed Assets), Elementary Secondary Education, Interest (Finance), Statistical Data
Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402 ($0.60)
Publication Type: Numerical/Quantitative Data
Education Level: N/A
Authoring Institution: National Center for Education Statistics (DHEW), Washington, DC.
Note: A related document is ED 098 683