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Measure K Palos Verdes Peninsula Unified School District General Obligation Bond Measure
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Information shown below: Official Information | Impartial Analysis | | ||||||
To improve safety and educational facilities in our neighborhood schools by repairing and rehabilitating aging schools, including repairing roofs, upgrading fire alarms, replacing inadequate plumbing and sewer systems, upgrading electrical systems to safely accommodate technology, and renovating classrooms and restrooms by funding only the specific projects included in Palos Verdes Peninsula Unified School District’s facilities bond plan, shall Palos Verdes Peninsula Unified School District issue $46,000,000 of bonds at interest rates within legal limits, conduct annual audits, and establish an independent citizens’ oversight committee?
Funds received from the sale of the bonds would be used for the acquisition and improvement of real property, including repairing roofs, upgrading fire alarms, replacing plumbing and sewer systems, upgrading electrical systems for technology, and renovating classrooms and restrooms. Annual audits, with oversight by an independent civilian's committee, will be conducted on expenditures. The bonds would be issued and sold at an interest rate not to exceed the statutory maximum, and would be repaid over a period not to exceed forty (40) years by a property tax levied upon real property located within the District. This measure requires a two-thirds (2/3) vote for passage. Notice to Voters: Approval of Measure K does not guarantee that the proposed project or projects in the Palos Verdes Peninsula Unified School District that are the subject of bonds under Measure K will be funded beyond the local revenues generated by Measure K. The school district's proposal for the project or projects may assume the receipt of matching state funds, which could be subject to appropriation by the Legislature or approval of a statewide bond measure.
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