NEWARK -- Measure G, a $63 million bond that will upgrade the city's aging schools, was narrowly approved Tuesday night.

With all precincts reporting, the measure received 2,698 votes -- barely above the 55 percent needed to pass, according to the Alameda County Registrar of Voters.

Slightly more than 44 percent voted no.

The measure will pay for a number of improvements, such as seismic upgrades, removing hazardous materials, and renovations to classrooms and libraries at Newark schools, which are more than 40 years old.

Property owners now will be asked to pay $39 per year for every $100,000 of assessed property value over a 33-year period, from 2013 to 2046.

The measure's opponents said they were worried that taxpayers already owe about $56 million because of previously approved bonds.

But Superintendent of Schools Dave Marken said the investment "is worth it because good schools make good communities."

Marken said Tuesday night that passing the measure was "a great vote of confidence for our kids, our schools and district, and we're looking forward to doing some great things."