With all precinct results now declared, almost two-thirds of voters have agreed to a proposition which will provide billions extra for the state's schools and colleges.

The municipal bond system allows authorities in the United States to raise funds for specific public purposes, selling bonds which offer investors a guaranteed return.

The measure will provide $6.7 billion for elementary and high schools and $2.5 billion for colleges and universities.

The money, which will be spent over the next four years, will cut class sizes, relieve overcrowding, prepare for growth in pupil numbers, repair crumbling schools and help to wire up schools to the Internet.

At college and university level, the extra funds will upgrade and build new classrooms in community colleges, the California State University and the University of California.