League of Women Voters of California
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Measure A $34M School Bonds Shasta-Tehama-Trinity Joint Community College District
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| Information shown below: Fiscal Impact | | ||||
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Shall Shasta College construct a university center and establish a four-year college program, expand its nursing, dental hygiene, and health services programs and construct a health science center, new science and technology facilities, install energy upgrades, upgrade science labs and construct and renovate classrooms and college facilities, by Shasta-Tehama-Trinity Joint Community College District issuing $34 million of bonds at legal interest rates with citizens' oversight and financial accountability?
Based upon the foregoing and projections of the Districtıs assessed valuation, and assuming the entire debt service will be paid through property taxation: 1. The best estimate of the tax which would be required to be levied to fund the bond issue during the first fiscal year after the sale of the first series of bonds, based on estimated assessed valuations available at the time of filing of this statement, is 0.925 cents per $100 of assessed valuation for the year 2002-2003. 2. The best estimate from official sources of the tax rate which would be required to be levied to fund the bond issue during the first fiscal year after the last sale of the bonds and an estimate of the year in which that rate will apply, based on estimated assessed valuations available at the time of filing of this statement, is 1.238 cents per $100 of assessed valuation for the year 2006-2007. 3. The best estimate of the highest tax rate which would be required to be levied to fund the bond issue and an estimate of the year in which that rate will apply, based on estimated assessed valuation available at the time of filing of this statement, is 1.238 cents per $100 of assessed valuation for the year 2006-2007. The average annual tax levy is projected to be $9.60 per $100,000 of real property valuation. Attention to all voters is directed to the fact that the foregoing information is based upon projections and estimates only. The actual times of sales of said bonds and the amount sold at any given time will be governed by the needs of the District and other factors. The actual interest rates at which the bonds will be sold which in any event will not exceed the maximum permitted by law, will depend upon the bond market at the time of sales. The actual assessed values in the future years will depend upon the value of property within the District as determined in the assessment and the equalization process. Accordingly, the actual tax rates and the years in which such rates are applicable may vary from those presently estimated as above stated. Douglas M. Treadway, Superintendent/President
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Created: December 3, 2001 02:34
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