A bond measure is a financial proposal presented to voters, typically in a local or state election, seeking approval for the government to issue (sell) bonds to investors. This process allows the government to borrow money over a long term—often 10 to 30 years—to fund major capital projects or infrastructure initiatives that are too expensive for a regular annual budget.
Looking at bond measures is highly valuable for design and construction professionals because a passed measure signals a large, funded pipeline of guaranteed work. For an architect or engineer, bond measures represent:
- Identification of Future Work: A successful bond measure clearly identifies the specific public infrastructure projects that will move forward in the coming years. This gives a significant lead time for firms to begin marketing and business development efforts.
- Predicting Market Activity: The value and type of projects included in the bond measure—for example, a large school bond or a transportation bond—allow firms to predict the demand for their services in a particular geographic area and adjust staffing or specialties accordingly.
- Project Specifics: The ballot language and accompanying documentation often detail the exact purpose of the funds, providing early insights into the scope, scale, and specific needs of upcoming projects before formal bidding begins. This allows for proactive preparation, such as forming partnerships or developing specialized proposals.
Understanding the status of bond measures allows design professionals to position their firms to secure contracts for the design, oversight, and construction management of these projects.
To conduct a bond measure search, follow these steps:
- Click the ‘Search’ tab at the top of the screen.
- Change the parameter to ‘Bond Measure’.
- Select the desired region.
- Set the date range to view bonds from a specific year.
- In the ‘Advanced Search Options’, click on ‘Bond Measure Results Option’.
- From ‘Check BMR Pass/Fail’, indicate the preference for pass or fail results.
- Click ‘Search’.