League of Women Voters of California Education Fund
	Humboldt County, CA June 5, 2012 Election
	Measure X Street Improvements Bond Measure City of Rio Dell Bond Measure - 2/3 Approval Required Fail: 437 / 62.70% Yes votes ...... 260 / 37.30% No votes See Also: Index of all Measures

Arguments For Measure X

11.5 miles of poorly maintained streets or about 90% of all City streets excluding Wildwood Avenue will be repaired at one time at the lowest unit cost, measurably improving driving and bicycling conditions and the overall image of our City. The project will prevent further deterioration of streets which will cost significantly more to fix in the future and for which the City has no source of funding. The cost of reconstructing a street is about 10 times the cost of an asphalt overlay. The City will contribute $825,000, reducing the total cost by about 30%. The project can be financed through USDA over 15 years at an interest rate of about 3.75%; this low rate may not be available again. Significant repair of City streets may likely increase the value of many City properties. Very poor streets can lower the value of a home and make it less competitive in the marketplace. s/Julie Woodall, Mayor On behalf of the Rio Dell City Council (No arguments against Measure X were submitted)

Tax Rate Statement from Ron Henrickson, City Manager

An election will be held in the City of Rio Dell (the "City"), located in Humboldt County, on June 5, 2012, for the purpose of submitting to the electors of the City the question of incurring a bonded indebtedness of the City in a principal amount not to exceed $2,000,000. 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 City. The following information regarding tax rates is given to comply with Sections 9400-9404 of the California Elections Code. Such information is based upon the best estimates and projections presently available from official sources, other demonstrable factors, and do not include the effect of homeowner's exemption. Based upon the foregoing and projections of the City's assessed valuation, and assuming the entire debt service will be amortized through property taxation: 1. The best estimate of the tax which 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, is 0.11962 cents per 100 dollars ($119.62 per $100,000) assessed valuation for the year 2012/13. 2. 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 valuations available at the time of filing this statement, is 0.11962 cents per 100 dollars ($119.61 per $100,000) assessed valuation for the year 2012/13. Attention to all voters is directed to the fact that the foregoing information is based upon projections and estimates only, which are not binding upon the City, including the assumption that the entire authorization ($2,000,000) will be sold as one series of bonds. The actual time of sale of said bonds and the exact amount sold will be governed by the needs of the City 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 the bond sale. Actual assessed valuation in future years will depend upon the value of property within the City 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 estimates. s/Ron Henrickson, City Manager City of Rio Dell