Regarding The Times' Feb. 17 editorial opposing Proposition 55, the $12.3-billion bond measure to repair and build schools for California's future: As state treasurer and California's chief investment officer, I strongly support Proposition 55. It is a prudent investment that will help ensure first-class schools for our children and continued excellence at our colleges and universities. Proposition 55 represents a fiscally responsible use of our bonding authority — financing the educational facilities that will contribute to California's long-term economic strength and competitiveness.

The need for Proposition 55 is great. California has the third-most-overcrowded classrooms in the nation, and approximately 1 million children attend schools with bathrooms that do not work. Even with its passage, the state will still face a gap of nearly $5 billion to meet its projected K-12 school facility needs over the next five years.

Phil Angelides

Sacramento

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If Proposition 55 was meant to cover the cost of improving the facilities and relieve overcrowding in K-12, it would be a lot less costly and do a lot more good. As Proposition 55 is written now, the colleges and universities would get part of the $12.4-billion bond issue. K-12 funding is what California needs to address. Let the colleges and universities make do for a while. Proposition 55 gets my "no" vote.

Duane Carter

Orange