The question for the ballot should include a statement that the money would be under the control of the state and if needed for another more important project, like health care costs for illegal aliens, it will be impounded.
The labor unions are proposing this in CA also. It would be managed by CALPERS, which would be able to use the money to pay for public employees, then when they run out of money they would just claim that private employees aren’t covered by contract so too bad for them.
I don't trust the Politicians nor the Courts. Private Citizens can set them up, so it's just setting up a system to rip off the citizens in the future.
It is done privately now. Don't get the government involved. It just gives the politicians more control and more opportunities to steal.