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Proposition L School Bonds Julian Union High School District 55% Approval Required
See Also:
Index of all Propositions |
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League of Women Voters of California Education Fund
Pass:
1,259 /
60.4% Yes votes ......
827 /
39.6% No votes
| Information shown below: Summary | Yes/No Meaning | Impartial Analysis | Arguments | Tax Rate Statement | | ||||||
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To maintain a safe and effective quality student learning environment, provide a modern science/technology center building and to provide for campus renovations, shall the Julian Union High School District be authorized to issue $2,100,000 in bonds within legal interest rates, including independent citizens' oversight, with mandatory audits, where bond funds will be spent locally, cannot be taken by the State and spent elsewhere, without an increase over projected future tax rates and to qualify for State matching funds?
If this Bond measure is approved, the Julian Union High School District Governing Board will appoint a citizens' oversight committee and conduct annual independent audits to assure that bond funds are spent only on school and classroom improvements and for no other purposes.
Voter approval of this measure also will authorize an annual tax to be levied upon the taxable property within the District. The purpose of this tax is to generate revenue to pay the principal and interest on the bonds, and such tax revenue will be 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. Proceeds from the sale of bonds authorized by this proposition may be used by the District 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. 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 or 40 years after the date the bonds are issued as determined by the District. The tax authorized by this proposition is consistent with the requirements of the California Constitution. The California Constitution permits property taxes, above the standard one percent (1%) limitation, to be levied upon real property 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 school facilities, when approved by 55% of the voters if:
(1) the proceeds from the sale of the bonds are used only for the purposes specified, If a bond measure is approved, state law requires 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 News and Analysis San Diego U-T
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| Arguments For Proposition L | ||||||
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The children of Julian need our help. The science building at Julian Union High School has been condemned and cannot be used. So our children have no proper science labs or enough classrooms with modern technology. Your "yes" vote will allow the District to create a new, modern learning center. Your "yes" vote will be matched by nearly $2,000,000 in additional State funds + so we nearly double our money! Your "yes" vote will cost you nothing for nearly ten years! That's because this bond measure will be structured to extend the prior School District bond which will be paid off in 2020. So starting in 2020, we continue to pay about the same amount as we pay now. This bond will be supervised by an independent citizen's committee to protect your investment. With your help we can create a new central building that preserves its historical heritage on the outside yet will be state-of-the-art on the inside with modern science labs, high-tech learning centers and much more! The new building should be completed in about 16 months. Any funds not spent on the new building can only be used for other school improvements and cannot be taken by the State + so local taxpayer money will stay in our community! Our high school was once the proud center of Julian life. With your "yes" vote, we can restore our school to its rightful place in our community. Together, we built a wonderful new library. Together, we created an exciting new community park. Now, let's work together to give generations of Julian children new science labs and a modern technology-based education that will help them achieve a bright and successful future! Please join us and vote "yes" on Proposition L. Our children will thank you!
(No arguments against Proposition L were submitted) | ||||||
| Tax Rate Statement |
| As shown on the enclosed official ballot, an election is being held in the Julian Union High School District ("District") on November 2, 2010, for the purpose of submitting to the registered voters within the District the question of whether the District shall issue and sell bonds in an amount not to exceed $2,100,000 for the purpose of providing funds for the specified school facilities and school projects as set forth in the resolution of the District calling such bond election. This proposition will authorize an ad valorem tax sufficient for interest on, and redemption of, the bonds. The bonds shall bear interest at a rate, or rates to be established at such time as the bonds are sold, at fixed or variable interest rates not to exceed the maximum applicable statutory rate for such bonds. The following information is submitted in compliance with California Elections Code Sections 9401 through 9404 based on estimates of assessed valuations available at the time of filing of this statement:
(a) The best estimate from official sources of the tax rate that would be required to be levied to fund the 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 or a projection based on experience within the same jurisdiction or other demonstrable factors is $0.00 per $100 ($0.00 per $100,000) of assessed valuation. Under the proposed issuance structure, taxes would not be collected for this bond issuance in the fiscal years immediately following the issuance of the bonds authorized by this bond proposition.
(b) It is anticipated that the bonds will be sold in a single series. The best estimate from official sources of the tax rate which would be required to be levied to fund such bond issues during the first fiscal year of tax collection after the sale of the bonds based on estimated assessed valuations available at the time of filing of this statement or a projection based on experience within the same jurisdiction or other demonstrable factors is $0.02990 per $100 ($29.90 per $100,000) of assessed valuation.
(c) The best estimate from official sources of the highest tax rate which would be required to be levied to fund the bond issues during the term of the bond issues, based on estimated assessed valuations available at the time of filing of this statement or a projection based on experience within the same jurisdiction or other demonstrable factors, is $0.02998 per $100 ($29.98 per $100,000) of assessed valuation. It is estimated that the highest tax rate would apply in the 2021-2022 tax year based on assessed valuations available at the time of this filing or a projection based on experience within the same jurisdiction or other demonstrable factors. Voters should note that these estimated tax rates are based on the assessed value of taxable property within the District as shown on the official rolls of San Diego 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 rate than described above. Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined by the San Diego County Assessor in the annual assessment and the equalization process. Property owners should consult their own property tax bills and/or tax advisors to determine their property's assessed value and any applicable tax exemptions. Attention of all voters is directed to the fact that these estimates are based on assumptions and projections derived from information obtained from official sources. The actual tax rates and the years in which they will apply may vary depending on the timing of any bond sales, the amount of bonds sold, market interest rates at the time of each sale of bonds and actual assessed valuations over the term of repayment of the bonds. The timing of the bond sales and the amount of bonds sold at any given time will be governed by the needs of the District, including the legal limitations on bonds approved by a 55% vote. The actual interest rates at which the bonds will be sold will depend on the bond market at the time of each such sale. Pursuant to the provisions of State law, voters within the District previously approved a general obligation bond proposition to fund identified public school facilities. It is the stated intention of the District that the projected maximum ad valorem tax rates levied within the District to pay for the existing bonds on taxable property within the District (when assessed valuation is projected by the District to increase by the amount allowed by law in accordance with Article XIIIA of the California Constitution), shall not be increased as a result of the authorization and issuance of bonds as described in this Bond Proposition. Dated: July 15, 2010
Kim Dalton, Chief Business Official |
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