Fail: 9,917 / 59.12% Yes votes ...... 6,858 / 40.88% No votes

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Measure B, a City of Sunnyvale ("City") bond measure, seeks voter approval to authorize the City to issue general obligation bonds in the amount of $108,000,000, at a rate of interest not to exceed the legal limit, for design and construction of a new, energy efficient, environmentally sustainable library for Sunnyvale's growing community.

If two-thirds of the qualified electors voting on this measure vote for approval, the City will be authorized to issue general obligation bonds in an amount not to exceed $108,000,000. It is expected that the bonds would be issued in one series, and would have a maturity not exceeding thirty years. Approval of this measure would authorize the City to levy an ad valorem tax rate on real property within the City by an amount needed to retire the indebtedness created by these bonds. The City's best estimate of the average tax rate required to be levied to fund the bond issue during the term of authorization is $19.52 per $100,000 of assessed valuation (1.952 cents per $100). The City's best estimate of both the first year and highest tax rate to fund the bond issue is $37.09 per $100,000 assessed valuation (3.709 cents per $100).

California law permits a city to levy a tax for a specific purpose on real property within the city if the tax is approved by two-thirds of the voters voting in an election.

Section 1(b) of Article 13A of the California Constitution provides an exception to the one percent property tax limit amount by allowing local governments to increase the property tax rate above one percent to pay off new bonded indebtedness for the purchase or improvement of real property. Because of this restriction, proceeds of the proposed bonds, including interest earned on the proceeds, may only be spent on the design and construction of a new Sunnyvale library and cannot be used for any other purpose, including the purchase of personal property such as books, computers and the like. In addition, bond proceeds may not legally be used to pay for the costs of operating the proposed new library and these costs will be required to be funded by other than the bond proceeds.

A "Yes" vote is a vote to approve the issuance of bonds for a new Sunnyvale library and to approve the property tax to retire the bond indebtedness.

A "No" vote is a vote not to approve the library bonds and property tax.

/s/ David Kahn
    City Attorney

Sunnyvale Sun

Build the Library

There is no space for more books.

There is no space for patrons or staff.

There is no space for the internet resources that students and seniors need.

Sunnyvale hasn't added space to its library in over two decades.

For too long, Sunnyvale has ignored the needs of our children, our students, and our seniors. But we can fix this.

And we MUST fix this. Sunnyvale needs to double its library space, and Measure B is the way to do it.

MEASURE B provides:

• a library with twice the space of the current building,

  providing proper facilities for children, students, and

  seniors

• a library that meets the highest "green" standards in the

  state, targeting L.E.E.D. platinum and carbon neutral

  design goals

• a library with a design intended to preserve the Charles

  Street Gardens as part of the library's green space

• a library with space for a much larger collection

• a library with space for the internet resources that

  students and seniors need

• a library with ample community meeting space

• a library that is a key component of the renovated

  downtown

Join them in building a library for our residents, now and for the future.

Vote YES on MEASURE B + for children, for seniors, for education, and for all residents of Sunnyvale.

An election will be held in the City of Sunnyvale (the "City") on November 6, 2007, to submit to electors of the City the question of whether to authorize the sale of up to $108,000,000 in general obligation bonds of the City to finance the design and construction of a new public library as described in the ballot proposition. If the bonds are approved, the City expects to sell the bonds in one series. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property in the City. The information contained in numbered paragraphs 1 + 3 below is provided in compliance with Sections 9400-9404 of the Elections Code of the State of California. Such information is based on the best estimates and projections presently available from official sources, upon experience within the City and other demonstrable factors.

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 bonds, based on estimated assessed valuations available at the time of filing of this statement, is 3.709 cents per $100 ($37.09 per $100,000) of assessed valuation in fiscal year 2008-09.

2. 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 3.709 cents per $100 ($37.09 per $100,000) of assessed valuation in fiscal year 2008-09.

3. The best estimate of the average tax rate which would be required to be levied to fund this bond issue over all of the years the bonds will be outstanding is 1.952 cents per $100 ($19.52 per $100,000) of assessed valuation.

Voters should note that the estimated tax rates are based on the ASSESSED VALUE of taxable property on the County's official tax rolls, not on the property's market value. Property owners should consult their own property tax bills to determine their property's assessed value and any applicable tax exemptions.

Attention of all voters is directed to the fact that the foregoing information is based upon the City's projections and estimates only, which are not binding upon the City. 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 the bond sale, the amount of bonds sold and market interest rates at the time of the sale, and actual assessed valuations over the term of repayment of the bonds.