Proposition 55 is the "other" bond measure on the March 2 ballot and the smaller at $12.3 billion. It would help finance school construction and renovation around the state, most of it for kindergarten-to-12th grade campuses but also for higher education.

It is the second part of a two-phase bond for schools. Proposition 47, approved by voters in November 2002, provided $13.5 billion for the same purpose.

Two phenomena are driving these huge school bonds. The first, and most obvious, is California's growing population. In Modesto, that's evident with the need for the city's sixth and seventh comprehensive high schools. Local bond money got the ball rolling for Enochs and Gregori high schools, planned at the north end of Village I and Salida, respectively. But their completion also depends on state bonds.

The second reason for the huge school bond measures is that many school buildings are 25 years old or older, and the classrooms, restrooms and related facilities need repair and upgrading.

Proposition 55 also contains money for constructing and equipping facilities for community colleges, state universities and University of California campuses, including Merced.

We've always supported school bonds and agree that nearly all of the local projects identified for funding through Proposition 55 are important.

The problem is that Proposition 55 shares the ballot with Proposition 57, the $15 billion debt payoff bond that is an essential part of the solution to California's budget crisis.

If voters approve both 55 and 57, it will increase the state's borrowing by more than $27 billion in one year. That is an unacceptable amount that would put the state well beyond a prudent debt service of 6 percent, and could further damage the state's already poor credit rating -- which results in having to pay higher interest on its bonds.

Both Propositions 55 and 57 are for general obligation bonds, which would be paid off -- with interest -- out of the state's general fund. Californians finance the general fund through property taxes, sales taxes and other fees. The Legislative Analyst's Office says the average payment for principal and interest for the Proposition 55 bonds would be about $823 million per year -- money that wouldn't be available for other state functions.

If Proposition 55 does not pass this spring, the measure will automatically roll over to the November ballot. While there would be some higher costs and inconvenience with such a delay, we think it is, overall, the wiser move for the state's finances.

By then, we should have a much clearer fix on specific plans to put the state's financial house back in order.

While The Bee has always supported school bonds in the past, our concern over the state's heavy debts forces us to recommend against the passage of Proposition 55. We urge a "No" vote on Proposition 55, the school bond, in next month's election.