This is an archive of a past election. See http://www.smartvoter.org/ca/sd/ for current information. |
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Proposition N $870 Million Community College Bond Measure San Diego Community College District School Bond - 55% Approval Required
See Also:
Index of all Propositions |
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Results as of Jan 4 9:40am |
Information shown below: Yes/No Meaning | Impartial Analysis | Arguments | Tax Rate Statement | | |||||
COMMUNITY COLLEGES CLASSROOM CONSTRUCTION, REPAIR/SAFETY MEASURE. To better prepare San Diego community college students for 4-year universities and quality jobs, shall San Diego Community College District upgrade existing educational facilities, including renovating classrooms for nursing, police, paramedic, and firefighting careers, upgrade science and high-tech training labs; repair aging roofs, electrical and safety systems; and construct and equip facilities and sites; by issuing $870 million in bonds, at legal rates, with citizen oversight, mandatory audits, no money for administrative salaries, and maintain current tax rate limits?
Proceeds from the sale of bonds authorized by this proposition may be used by the District only for the construction, reconstruction and/or rehabilitation of its community college facilities, including the furnishing and equipping of its facilities, acquisition, or lease of real property for its facilities and construction management by District personnel. The interest rate on any bond, which is established at the time of bond issuance, cannot exceed 12% per annum. The final maturity date of any bond could be no later than 25 years after the date of bonds issued pursuant to the Education Code or not later than 40 years after the date of bonds issued pursuant to the Government Code. Principal and interest on the bonds would be paid by revenue derived from an annual tax levied upon the taxable property within the District in an amount sufficient to pay the interest as it becomes due and to provide a fund for payment of the principal on or before maturity. Article XIII A of the California Constitution exempts from the one percent property tax rate limitation ad valorem taxes to pay the interest and redemption charges on any bonded indebtedness for the acquisition or improvement of real property, including the furnishing and equipping of community college facilities, when approved by 55% of the voters if: (a) the proceeds from the sale of the bonds are used only for the purposes specified, (b) the District, by evaluating safety, class size reduction, and information technology, has approved a list of specific projects to be funded, (c) the District will conduct an annual, independent performance audit, and (d) the District will conduct an annual, independent financial audit. If a bond measure is approved by 55% of the voters, state law requires the governing board of the District to establish an independent citizens' oversight committee: The District has made this ballot proposition subject to these requirements. Approval of this proposition does not guarantee that the proposed projects in the District that are the subject of these bonds will be funded beyond the local revenues generated by this proposition.
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Official Information
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Arguments For Proposition N | Arguments Against Proposition N | ||
Every year the San Diego Community College District+-including City College, Mesa and Miramar Colleges and San Diego Adult & Continuing Education Centers, prepares over 125,000 local students for quality jobs and transfer to four-year colleges and universities. Much of San Diego's workforce is trained or retrained at one of these colleges. Despite ongoing maintenance and facility improvements, aging and overcrowded college facilities are inadequate to accommodate classes and training that students need and the job market demands. As one of our nation's oldest and largest community college districts, educational facilities need upgrading. Proposition N will provide funds to complete the rehabilitation of deteriorated college facilities and add classrooms and instructional support space. Proposition N will:
Proposition N requires strict fiscal controls and accountability. An independent Citizens' Oversight Committee and mandatory audits will ensure funds are spent properly. No monies can be used for administrative salaries. All funds must stay local to benefit City, Mesa, and Miramar Colleges and San Diego Community College District Adult & Continuing Education Centers. City College opened in 1914, Mesa in 1964 and Miramar in 1969. Together, they train virtually all of San Diego's public safety professionals: firefighters, police, nurses and paramedics. The colleges provide specialized training for U.S. Military personnel locally. Technical training programs have nearly 100% employment rates for graduates. San Diego educators, public safety providers, and civic and business leaders urge your support. Please vote Yes on Proposition N.
WILLIAM B. KOLENDER
RICHARD RIDER Chair, San Diego Tax Fighters EDWARD TEYSSIER Chairman, San Diego Libertarian Party JOHN BOWMAN Retired Property Manager |
For more information, contact San Diego Tax Fighters
FRED SCHNAUBELT
FACT: Proposition N WON'T raise your tax rate. It simply extends the existing assessment authorized by voters in 2002. FACT: San Diego Community College District has developed a comprehensive Facilities Master Plan to guide its efforts. Based on this plan, Proposition N authorizes critical classroom and lab modernization, technology upgrades, and more, WITHOUT RAISING YOUR CURRENT TAX RATE. FACT: Because a college education has become so expensive, more and more people are relying on community colleges for some or all of their education. Proposition N will help provide students with a high quality education they might not otherwise receive. FACT: Rehabilitating aging college facilities will cost less now than in the future. The longer we wait to make upgrades, the more expensive it will be. FACT: By law, Proposition N funds must stay local and can only be used for facility projects listed on the official Proposition N Project List. FACT: ALL funds are subject to mandatory annual audits and Independent Citizens' Oversight. FACT: City, Mesa and Miramar Colleges train the vast majority of San Diego's public safety workforce: firefighters, police, nurses and paramedics. Proposition N will help train additional public safety professionals. Most of these graduates will stay in our community for their entire careers. Don't be persuaded by people with limited knowledge about our community colleges. Proposition N is a smart, responsible plan and a good investment to ensure quality community college facilities for years to come. Please VOTE YES on N.
WILLIAM B. KOLENDER |
Tax Rate Statement from the District Chancellor |
An election will be held in San Diego Community College District (the "District") on
November 7, 2006, for the purpose of submitting to the electors of the District the question of
incurring a bonded indebtedness of the District in a principal amount of $870 million (the "Bonds").
If such Bonds are authorized and sold, the principal thereof and interest thereon will be payable
from the proceeds of tax levies made upon the taxable property in the District. The following
information regarding tax rates is given to comply with Section 9401 of the California Elections
Code. Such information is based upon the best estimates and projections presently available
from official sources, upon experience within the District, and other demonstrable factors.
It is estimated that the combined tax rate of the Measure N and Measure S elections will not exceed a tax rate of $25.00 per $100,000 of assessed valuation at any point in time the Bonds are outstanding. Based upon the foregoing and projections of the District's 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 for the first series of Bonds sold in fiscal year 2008-09 based on estimated assessed valuations available at the time of filing of this statement is $15.97 per $100,000 of assessed valuation. 2. The best estimate of the tax rate which would be required to be levied to fund the Bond issue during the last sale of the Bonds in fiscal year 2015-16 and the rate that will apply based upon estimated assessed valuation available at the time of filing of this statement is $24.98 per $100,000 of assessed valuation. 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 $25.00 per $100,000 of assessed valuation for the year 2029-30. 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. Hence, the actual tax rates and the years in which such rates are applicable may vary from those presently estimated as above stated.
Constance M. Carroll, Ph.D. |