6,321 / 79.49% Yes votes ...... 1,631 / 20.51% No votes

See Also: Index of all Measures

Approval of Measure AA would authorize the Baldwin Park Unified School District ("District") to issue up to $46,600,000 in general obligation bonds.

Funds received from the sale of the bonds would be used only for the construction, rehabilitation and equipping of District facilities, or the acquisition or lease of real property for District facilities. No funds may be used for teacher or administrator salaries, or other school operating expenses.

As required by law, the Board of Education of the District ("Board of Education") has adopted a list of the specific school facilities projects to be funded by the sale of the bonds. The Board of Education will conduct annual, independent financial and performance audits to ensure that funds received from the sale of the bonds will have been expended only on the specific projects listed, and will appoint a citizen's oversight committee to inform the public on expenditures.

The bonds would be issued and sold at an interest rate not to exceed the maximum rate allowed by law, and would be repaid by a property tax levied upon real property located within the District over a period not to exceed the maximum number of years allowed by law.

This Measure requires a fifty-five percent (55%) vote for passage.

NOTICE TO VOTERS

Approval of Measure AA does not guarantee that the proposed project or projects in the Baldwin Park Unified School District that are the subject of bonds under Measure AA will be funded beyond the local revenues generated by Measure AA. 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.

An election will be held in the Baldwin Park Unified School District (the "District") on November 5, 2002, to authorize the sale of up to $46,600,000 in bonds of the District to finance school facilities as described in the proposition. If the bonds are approved, the District expects to sell the bonds in series over time. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property in the District. The following information is provided in compliance with Sections 9400-9404 of the Elections Code of the State of California.

1. The best estimate of the tax which would be required to be levied to fund this 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 $0.05994 per $100 ($59.94 per $100,000) of assessed valuation in fiscal year 2003-04.

2. The best estimate of the tax rate which would be required to be levied to fund this bond issue during the first fiscal year after the sale of the last series of bonds, based on estimated assessed valuations available at the time of filing of this statement, is $0.05970 per $100 ($59.70 per $100,000) of assessed valuation in fiscal year 2009-10.

3. The best estimate of the highest tax rate which would be required to be levied to fund this bond issue, based on estimated assessed valuations available at the time of filing of this statement, is $0.05997 per $100 ($59.97 per $100,000) of assessed valuation in fiscal year 2032-33.

Voters should note that these estimated tax rates are based on the assessed value of taxable property in the District as shown on the official tax rolls of Los Angeles County, not on the property's market value. In addition, taxpayers eligible for a property tax exemption, such as the homeowner's exemption, will be taxed at a lower effective tax rate than described above. Certain taxpayers may also be eligible to postpone the payment of taxes. Property owners should consult their own property tax bills and tax advisors to determine their property's assessed value and any applicable tax exemptions.

The actual tax rates and the years in which they will apply may vary from those presently estimated, due to variations from these estimates in the timing of bond sales, the amount of bonds sold and market interest rates at the time of each sale, and actual assessed valuations over the term of repayment of the bonds. The estimates are based upon the District's projections and are not binding upon the District. The dates of sale and the amount of bonds sold at any given time will be determined by the District based on need for construction funds and other factors. The actual interest rates at which the bonds will be sold will depend on the bond market at the time of each sale. Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined by the Los Angeles County assessors in the annual assessment and the equalization process.

Dated: July 15, 2002

As required by the California Constitution, the proceeds from the sale of the bonds will be used only for the construction, reconstruction, rehabilitation or replacement of school facilities, including the furnishing and equipping of school facilities, or the acquisition or lease of real property for school facilities, and not for any other purpose, including teacher and administrator salaries and other school operating expenses.

The specific school facilities projects to be funded are as follows:

Baldwin Park High School
New two story library and associated site improvements
New gymnasium and athletic support facilities
Modernization of existing buildings

Sierra Vista Middle School
New classroom buildings and associated site improvements
New boys and girls restrooms and administrative support facilities
Modernization of existing buildings

Olive Middle School
New classroom buildings, new athletic facilities, support facilities and associated site improvements

De Anza Elementary
New classroom buildings, support facilities and associated site improvements

Pleasant View Elementary
New classroom buildings, support facilities and associated site improvements

Geddes Elementary School
New classroom buildings, support facilities and associated site improvements
New multi-purpose room, new library and administrative support facilities

North Park Continuation HS
New classroom buildings, support facilities and associated site improvements
New library and administrative support facilities

Jones Middle School
New classroom buildings, support facilities and associated site improvements, and expanded physical education facilities

Santa Fe K-8
New classroom buildings and associated site improvements

Holland Middle School
New classroom buildings, new athletic facilities, support facilities and associated site improvements

Sierra Vista High School
New classroom buildings, support facilities and associated site improvements

Foster Elementary School
Modernization and enlargement of existing buildings

Tracy Elementary School
Modernization and enlargement of existing buildings

Walnut Elementary School
Modernization and enlargement of existing buildings

The District's Board of Education has certified that it has evaluated safety, class size reduction and information technology needs in developing the foregoing list.

The District's Board of Education will conduct an annual, independent performance audit to ensure that the funds have been expended only on the project list set forth above.

The District's Board of Education will conduct an annual, independent financial audit of the proceeds from the sale of the Bonds until all of those proceeds have been expended for the school facilities projects.

Pursuant to Section 15772 of the Education Code, the District's Board of Education will appoint a citizens' oversight committee and conduct annual independent audits to assure that funds are spent only on school and classroom improvements and for no other purposes.