15,496 / 70.78% Yes votes ...... 6,398 / 29.22% No votes

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Funds received from the sale of the bonds would be used only for the construction, reconstruction, rehabilitation, or replacement of school facilities, including furnishing and equipping the school facilities, and acquiring or leasing real property for school facilities. Specific school projects include water, gas, sewer and plumbing projects, fire, safety, health and access related improvements, electrical upgrades, renovations and acquisitions, constructing new and renovating existing classrooms, and replacing deteriorating portables with permanent classrooms, or refurbishing .existing portables. The funds may not be used for any other purpose, such as teacher and administrator salaries, or other school operating expenses.

The, District's Board of Education ("Board") shall establish an independent Citizen's Oversight Committee to ensure bond proceeds are expended only for the identified school facility projects. The Citizen's Oversight Committee shall consist of at least seven members and shall include members active, respectively, in a business organization in the District, in a senior citizens' organization and in a bona fide taxpayers' organization, a member that is a parent or guardian of a child enrolled in the District, and a member that is both a parent or guardian of a child that is enrolled in the District and active in a parent-teacher organization.

The Board shall conduct annual independent performance audits to ensure that bond proceeds have been expended only on identified school facility projects, and conduct annual independent financial audits of the bond proceeds until all of the proceeds have been spent. As long as any proceeds of the bonds remain unexpended, the Superintendent of the District shall cause a report to be filed with the Board no later than January 1 of each year, stating the amount of bond proceeds received and expended in that year and the status of any project funded or to be funded from bond proceeds.

When sold, the bonds shall bear interest at an annual rate not exceeding the maximum rate then allowed by law, and the interest shall be made payable at the time or times permitted by law. The bonds may be issued and sold in several series, and no bond shall mature more than 40 years from the date of that bond.

Approval of Measure R does not guarantee that the proposed projects in the District that are .the subject of the bonds will be funded beyond the local revenues generated by the Measure. The District's proposal for the identified projects assumes the receipt of matching State funds, which could be subject to appropriation by the Legislature or approval of a statewide bond measure.

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

Palos Verdes Peninsula Unified School District

Daily Breeze

• Backers: Time is right for 2 Peninsula school bonds

In June 2000, local voters approved a bond, Measure K, to fund the first phase - of school facility renovations. These funds were used to rehabilitate school facilities, add classrooms to accommodate enrollment growth, and implement class size reduction.

The projects were completed on time and under budget. These funds were also used to leverage additional state funds, bring state tax dollars back into our community, and reduce the cost to local taxpayers.

Measure R would fund the District's core academic facility renovations including: replacing aging sewer/water lines, improving fire alarms, upgrading heating and ventilation systems, replacing 30-year old portable classrooms, building permanent classrooms to accommodate students, and upgrading for seismic safety.

Because of available state matching funds and historically low interest rates, PVPUSD can complete these remaining school renovations at a minimal cost to taxpayers. Passage of Measure R will allow the District to complete, these projects by extending the term of Measure K by six years and adding less than $2.50 to the $16.47 per $100,000 of assessed value (not market value) that was approved by the voters in 2000.

Funds from Measure R will stay on the Peninsula and may only be used for the specific facility projects listed in the detailed PVPUSD Facility Master Plan. Measure R requires an independent citizen oversight committee and mandatory independent annual audits. No funds can be used for administrator salaries.

Please vote YES on MEASURE R.

STEVEN T. KUYKENDALL
Former Congressman

HELEN COFFEY
Past President, League of Women Voters

CHARLES SIE, Ph.D.
Retired Vice President, Xerox Corporation

LES FISHMAN
Realtor

PETE CARROLL
Head Football Coach, University of Southern California

(No arguments against Measure R were submitted)

You are hereby notified in accordance with Section 9401 of the Elections Code of California of the following:

1. The best estimate from official sources of the 1ax rate which would be required to be levied to fund principal and interest payments during the first fiscal year after the first sale of bonds (Fiscal Year 2006-07), based on assessed valuations available at the time of the election and taking into account future growth, is the following:

$.00243 per $100 ($2.43 per $100,000) of assessed valuation, which, when added to the projected tax rate required for the District's outstanding Measure K General Obligation Bonds, results in a total of $18.90 per $100,000 of assessed valuation.

2. The best estimate from official sources of the tax rate which would be required to be .levied to fund principal and interest payments during the fiscal year after the last sale of bonds and an estimate of the year in which that rate will apply, based on assessed valuations available at the time of the election and taking into account future growth, is as follows:

$.00243 per $100 ($2.43 per $100,000) of assessed valuation, which, when added to the projected tax rate required for the District's outstanding Measure K General Obligation Bonds, results in a total of $18.90 per $100,000 of assessed valuation.

Year after last sale of bonds: 2009-2010

3. The best estimate from official sources of the highest tax rate which would be required to be levied to fund principal and interest payments on the bonds and the year in which such rate would apply, based on assessed valuations available at the time of the election and taking into account future growth, is as follows:

$.01890 per $100 of aSsessed valuation, which equates to $18.90 per $100,000 of assessed valuation.

Year of highest tax rate: 2033-2034

IRA J. TOIBIN, Ph.D., Superintendent of Schools Palos Verdes Peninsula Unified School District