League of Women Voters of California
| ||||
|
||||
Measure S School Improvement Modesto City Elementary School District Bond Issue - 55% Approval Required 7,148 / 69.3% Yes votes ...... 3,163 / 30.6% No votes
See Also:
Index of all Measures |
||||
|
Information shown below: Fiscal Impact | Yes/No Meaning | Impartial Analysis | Arguments | Full Text | ||||||
To repair older school classrooms and buildings, construct, acquire, and furnish school facilities, add classrooms, science and computer labs, libraries, cafeterias, upgrade electrical wiring for technology and heating and cooling systems, and repair deteriorating restrooms, shall the Modesto City Elementary School District issue $17 million of bonds at legal interest rates, appoint a citizens oversight committee, and perform annual financial and performance audits, with no proceeds used for teacher or administrator salaries or other school operating expenses?
1. First year of levy after the first sale of the bonds (2008-09): 26.9 cents 2. First year of levy after sale of the last series of the bonds (2008-09): 26.9 cents 3. Highest annual rate during the entire period of indebtedness (2012-13): 27.0 cents These estimates would result in an average annual tax rate over the life of the bonds of $26.85 per $100,000 of assessed valuation. The taxes estimated above would not increase the tax curently levied on taxable property in the Elementary District to repay outstanding obligations of the Elementary District. Voters should note that estimated tax rate is based on the ASSESSED VALUE of taxable property on the County's official tax rolls, not on the property's market value. These tax rates and the years in which they apply are based on assumptions with respect to assessed valuation growth, the timing of bonds sales, the amount of bonds sold at any one time, the interest rate on the bonds, and other such factors. The tax rates and the years in which they apply are estimates based on the best information available as of the date hereof. Although the Elementary District has made every effort to reasonably account for the factors which may affect the tax rates and the years in which they apply, these estimates are not binding on the Elementary District. The actual tax rates and the years in which they apply may vary from those presently estimated. Dated: August 9, 2001 /s/ Deborah S. Bailey
The issuance and sale of a bond by a school District is for the purpose of raising money for the District and represents a debt of the District. In exchange for money received from the holder of the bond, the District promises to pay the holder a set amount of interest for a certain time and to repay the loan on the expiration date. A resolution adopted by the Board of Trustees of the Modesto City Elementary School District on July 16, 2001, stated the bond shall be issued and sold for the purpose of repairing older school classrooms and buildings, constructing, acquiring and furnishing school facilities, adding classrooms, science and computer labs as well as cafeterias, upgrading electrical wiring for technology, heating and cooling systems and repairing deteriorating restrooms. The bond will bear interest at a rate not to exceed the legal limit. If this measure passes, a tax shall annually levy on property within the District not to exceed thirty dollars ($30) per one hundred thousand dollars ($100,000) of taxable property in the District. The tax shall be sufficient to pay the interest on the bonds as it becomes due. The tax shall be sufficient to provide funds for the payment of such part of the principal and interest as shall become due before the proceeds of the next general tax levy can be made available for the payment of principal and interest. --A 'Yes" vote is a vote to authorize the District to issue and sell the bonds. --A "no" vote is against authorizing the District to issue and sell the bonds. This analysis is submitted by the Office of the Stanislaus County Counsel pursuant to the requirements of Section 9500 and following of the Elections Code of the State of California. /s/ Michael H. Krausnick
|
News and Analysis
|
Arguments For Measure S |
Measure S is for School Repair at Modesto's elementary schools.
We tell our children that learning the basics is important. Don't we need to provide them with the basics when it comes to school facilities? Modesto City elementary schools are aging and overcrowded. We need Measure S to make needed repairs and build more classrooms for our children. We know that test scores improve when there are fewer kids in each class. Measure S will relieve overcrowding and reduce class size. It provides needed funding to build additional classrooms. Measure S will mean repairs for Modesto's older schools - and upgrades for fire safety, air conditioning for all classrooms, and new electrical wiring for technology. We can improve science and computer labs and school libraries. None of the money from Measure S can be spent on administration facilities or salaries - only on school buildings and classrooms. There will be strict accountability for taxpapers. A Citizens' Oversight Committee will be established to ensure that Measure S funding in spent only on projects approved by voters. And there are guaranteed independent performance and financial audits. Best of all, there will be no increase in your taxes. By approving Measure S, the Modesto City School District can apply for state matching funds for school improvements. Those funds will go to other districts if we don't take the opportunity to apply for them now. Providing the basics for our children should be our top priority. Making our schools the best will ensure a prosperous community. Vote Yes on Measure S for School Repairs.
/s/ Megan Gowans
/s/ Ken Bryant
/s/ Bette Bell Smith
(No arguments against Measure S were submitted) |
Full Text of Measure S | ||||||||||||||||||||||||
The following is the full proposition presented to the voters by the Modesto City Elementary School District.
"To repair older school classrooms and buildings, construct, acquire, and furnish school facilities, add classrooms, science and computer labs, libraries, cafeterias, upgrade electrical wiring for technology and heating and cooling systems, and repair deteriorating restrooms, shall the Modesto City Elementary School District issue $17 million of bonds at legal interest rates, appoint a citizens oversight committee, and perform annual financial and performance audits, with no proceeds used for teacher or administrator salaries or other school operating expenses?" The Board of Education of Modesto City Elementary School District has evaluated safety, class size reduction, and information technology needs in developing the list of school facilities projects to be funded, as included in the District's School Facilities Fee Plan, approved by the Board on March 31, 2000, as shall be amended from time to time, including but not limited to the following projects at the estimated costs shown:
|