Pass: 15903 / 56.12% Yes votes ...... 12436 / 43.88% No votes

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Proceeds from the sale of the bonds authorized by this measure may be used only for the purpose of providing funds to acquire, construct, renovate, furnish and equip school facilities and grounds in the High School District, and cannot be used for any other purposes such as teacher and administrator salaries or other school operating expenses. The full text of the measure printed in this Voter Information Pamphlet lists the specific facilities that may be funded by the proceeds from these bonds. The High School District will conduct an annual independent performance audit to ensure that the bond proceeds have been expended only the specific projects authorized, will conduct an annual independent financial audit, and will establish an independent citizens' oversight committee.

At the discretion of the Board of Trustees of the High School District, all or any part of the bonds could be sold. However, no bond sale could be made that would cause the total outstanding bonded indebtedness of the High School District to exceed 1.25 percent of the taxable property of the High School District as shown by the last equalized assessment of El Dorado County as modified pursuant to Education Code Section 15102, unless this limit is waived pursuant to Education Code Section 33050. The final maturity date of any series of bonds could not exceed the statutory limit after the date of the series. The interest rate that the bonds would bear could not exceed the statutory limit per annum. Principal and interest on the bonds would be paid by revenue derived from an annual tax levied upon the taxable property within the High School 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. The High School District's Tax Rate Statement is included in this Voter Information Pamphlet, which represents the High School District's best estimates of the property tax rates required to be levied to pay debt service on the bonds based on certain assumptions described in the statement.

Approval of this measure does not guarantee that the proposed projects in the High School District will be funded beyond the local revenues generated by this measure. The High School District's proposal for the 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.

A "yes" vote is a vote in favor of authorizing the El Dorado Union High School District to issue and sell up to $66,300,000 in general obligation bonds.

A "no" vote is a vote against authorizing the El Dorado Union High School District to issue and sell up to $66,300,000 in general obligation bonds.

Louis B. Green El Dorado County Counsel

If the bonds are authorized, the District expects to sell them in two series in fiscal years 2008-09 and 2010-11. Taxes for debt service payments would be levied in fiscal year 2008-09 and annually thereafter through 2034-35. Based on estimated assessed valuations available at the time of filing of this statement:

1. The best estimate of the tax rate that 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 is 1.6¢ per $100 ($16.00 per $100,000) of assessed valuation in fiscal year 2008-09.
2. The best estimate of the tax rate that 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 is 1.599¢ per $100 ($15.99 per $100,000) of assessed valuation in fiscal year 2010-11.
3. The best estimate of the highest tax rate that would be required to be levied to fund this bond issue is 1.6¢ per $100 ($16.00 per $100,000) of assessed valuation in fiscal years 2008-09, 2012-13, 2031-32, 2032-33, and 2033-34.

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. 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 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.

Attention of all voters is directed to the fact that the foregoing estimated tax rate information is partly based on assumptions and projections, which are not binding on the District. The actual tax rates and the years in which they will apply may vary from those presented above, because of variations from the assumed 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 dates of sale and the amount of bonds sold at any given time will be determined by the District based on the 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 County Assessor in the annual assessment and the equalization process.

Modernize facilities to meet current fire and safety codes Repair or replace aging roofs Job Training Facilities and Equipment Electrical, Plumbing, HVAC upgrades Classroom Technology, Computer Labs, and Technology Infrastructure Improve Access for People with Disabilities Repair/Renovate Science Classrooms & Labs Expand and repair library facilities Repair Restroom Facilities Health & Fitness Facilities (Tracks & Fields) Health & Fitness Building and Equipment Improvements Modernize/Replace 20+ Year Old Portables Performing Arts Expansion/Renovations Parking and Traffic Flow Improvements

The District Board of Trustees certifies that it has evaluated safety, class size reduction, and information technology needs in developing this list.

The bond proceeds will be used only for the purposes specified in Article XIIIA, section 1(b)(3) of the California Constitution, and not for any other purposes, including teacher and administrator salaries and other school operating expense. More specifically, the bond proceeds will only be expended to replace, renovate, construct, and equip any of the above stated facilities of the District. The projects which have been described include all related and incidental costs including design, engineering, architecture, construction management, inspection fees, and other professional services as well as utilities, site preparation, landscaping, and other incidental costs. It may be necessary for the District to alter specific projects or their costs as required by conditions which arise during the course of design, construction and/or renovation. The District may alter any of the specific projects which have been listed as required by conditions which arise during the course of design, construction, and/or renovation.

Approval of the District's bond measure does not guarantee that the projects that are the subject of the measure will be funded beyond the local revenues generated by the bond measure. The District's proposed projects may assume the receipt of state funds, which could be subject to appropriation by the Legislature or approval of a statewide bond measure.

The District Board of Trustees will conduct an annual independent performance audit to ensure that the bond funds have been expended only on the specific projects authorized. The District Board of Trustees will also conduct an annual, independent financial audit of the bond proceeds until all of those proceeds have been expended for the above-stated school facilities projects.

The District will deposit the proceeds of the bonds in a separate account. The District's chief business official shall issue an annual report to the Board of Trustees, which shall contain the amount of funds collected and expended as well as the status of the above-stated school facilities projects.

Additionally, the District Board of Trustees will appoint a citizens' oversight committee (the "Committee") having a minimum of seven (7) members and including at least one member active in a business organization representing the business community located within the District, one member active in a senior citizens' organization, one member active in a bona fide taxpayers' organization, one member the parent or guardian of a child enrolled in the District, and one member both a parent or guardian of a child enrolled in the District and active in a parent-teacher organization.