League of Women Voters of California Education Fund
	Contra Costa County, CA November 6, 2012 Election
	Measure H Bond Measure Knightsen Elementary School District 55% Approval Required Fail: 397 / 46.87% Yes votes ...... 450 / 53.13% No votes See Also: Index of all Measures

Arguments For Measure H

Arguments Against Measure H

Every Yes vote for Measure H is a vote to give our school district more local control over its future and the future of our community. The recession we are all living through brought development in our community to a standstill -- eliminating the funds generated for our schools from developer fees. Starting in the school year that begins this fall, developer fees will be exhausted and the District will be forced to use general fund dollars to make facility lease payments. Because of the on-going state education funding crisis the budget for the Knightsen Elementary School District has been cut $2.8 million during the past five years. The loss of these dollars has placed tremendous pressure on the District's budget, forcing the District to reduce or eliminate valuable classroom programs and student services. Measure H funds will: only be used to pay off existing debt; relieve pressure on the District's budget by paying off lease payments the District currently pays with general fund dollars; allow the District to apply future developer fees to pay down the bond faster -- saving money for local taxpayers; provide strict accountability, be reviewed by an Independent Citizens' Oversight Committee and audited annually. Individually, we cannot straighten out the mess in Sacramento. Nor can we end the recession. But together we can vote to approve Measure H and give our school district one more way to navigate through these challenging times. Please join us in voting Yes on Measure H. In doing so, you will join us in voting for more local control of our school district and of our community. Kay Joan Carlile, Robert Cecchini, Dorothy Walter, Linda Weekes, Albert Bello, Rebuttal to Arguments For None filed.

None filed.

Tax Rate Statement from the School District Superintendent

An election will be held in the Knightsen Elementary School District (the "District") on November 6, 2012, to authorize the sale of up to $3,000,000 in bonds of the District for the specific purposes set forth in the Bond Project List established by the District, as described in the proposition. If the bonds are authorized, the District 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 District. The following information is provided in compliance with Sections 9400-9404 of the Elections Code of the State of California. 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 $30 per $100,000 of assessed valuation in fiscal year 2013-14. 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 $30 per $100,000 of assessed valuation in fiscal year 2013-14. The best estimate of the average tax rate which would be required to be levied to fund this bond issue during the life of the bonds, based on estimated assessed valuations available at the time of filing of this statement, is $30 per $100,000 of assessed valuation. Voters should note that estimated tax rate is based on the ASSESSED VALUE of taxable property on Contra Costa 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 District's projections and estimates only, which are not binding upon the District. 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 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 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 Contra Costa County Assessor in the annual assessment and the equalization process. Dated: 7/11/2012 Theresa Estrada, Superintendent, Knightsen Elementary School District

Full Text of Measure H

KNIGHTSEN ELEMENTARY SCHOOL DISTRICT BOND PROJECT LIST In 2007, the District entered into a lease financing to finance the costs of completing Phase I of the Old River Elementary School. The total original principal amount of the lease is $3,367,402 and pays interest at the rate of 4.75% through December 1, 2027. The lease payments are made from the District's general fund in the annual amount of $262,370. The bond proceeds, together with $400,000 of funds held by the District, will be used to prepay the lease. The issuance of the Bonds will transfer the payment obligation from the District's general fund to the District property taxpayers. Doing so will allow the general fund dollars now spent on lease payments to be used to strengthen and enhance the classroom programs and services available to students. To lessen the burden on taxpayers, the District has committed to accumulate future developer fees received to redeem bonds on the first available redemption date. FISCAL ACCOUNTABILITY: IN ACCORDANCE WITH EDUCATION CODE SECTION 15272, THE BOARD OF TRUSTEES WILL APPOINT A CITIZENS' OVERSIGHT COMMITTEE AND CONDUCT ANNUAL INDEPENDENT AUDITS TO ASSURE THAT FUNDS ARE SPENT ONLY ON DISTRICT PROJECTS AND FOR NO OTHER PURPOSE. THE EXPENDITURE OF BOND MONEY ON THESE PROJECTS IS SUBJECT TO STRINGENT FINANCIAL ACCOUNTABILITY REQUIREMENTS. BY LAW, PERFORMANCE AND FINANCIAL AUDITS WILL BE PERFORMED ANNUALLY, AND ALL BOND EXPENDITURES WILL BE MONITORED BY AN INDEPENDENT CITIZENS' OVERSIGHT COMMITTEE TO ENSURE THAT FUNDS ARE SPENT AS PROMISED AND SPECIFIED. THE CITIZENS' OVERSIGHT COMMITTEE MUST INCLUDE, AMONG OTHERS, REPRESENTATION OF A BONA RIDE TAXPAYERS ASSOCIATION, A BUSINESS ORGANIZATION AND A SENIOR CITIZENS ORGANIZATION. NO DISTRICT EMPLOYEES OR VENDORS ARE ALLOWED TO SERVE ON THE CITIZENS' OVERSIGHT COMMITTEE. NO TEACHERS AND ADMINISTRATOR SALARIES: PROCEEDS FROM THE SALE OF THE BONDS AUTHORIZED BY THIS PROPOSITION SHALL BE USED ONLY FOR THE ACQUISITION, CONSTRUCTION, RECONSTRUCTION, REHABILITATION, OR REPLACEMENT OF SCHOOL FACILITIES, INCLUDING THE FURNISHING AND EQUIPPING OF SCHOOL FACILITIES, AND NOT FOR ANY OTHER PURPOSE, INCLUDING TEACHER AND SCHOOL ADMINISTRATOR SALARIES AND OTHER OPERATING EXPENSES.