League of Women Voters of California Education Fund
	Riverside County, CA November 6, 2012 Election
	Measure U $49,000,000 Bonds Hemet Unified School District 55% Approval Required Pass: 27,247 / 69.29% Yes votes ...... 12,075 / 30.71% No votes See Also: Index of all Measures

Arguments For Measure U

In November 2006, Hemet Unified School District voters overwhelmingly passed a general obligation bond to improve our community's schools. Since that time, tremendous improvements have been made in repairing and rehabilitating our children's schools and classrooms. But much remains to be done. Measure "U" will reauthorize $49 million of the previously approved 2006 bonds. By voting YES on Measure "U", we can finish the job of improving our local public schools while at the same time SAVING MILLIONS OF TAXPAYER DOLLARS. Here's how: Measure "U" makes financial sense and has taxpayer protections in place: By reauthorizing the 2006 bonds, the District can borrow at much lower interest rates, saving taxpayers millions of dollars in interest. Iron-clad restrictions that money can only be spent on improving Hemet's schools. No funds can be spent on administrator salaries, pensions, or benefits. The reauthorized bonds will NOT cause any increase in total District debt. Annual review of all expenditures by an independent citizens' oversight committee. Legally required annual audits. All Measure "U" funds MUST be used to improve our children's schools and CANNOT BE TAKEN AWAY BY THE STATE AND SPENT ELSEWHERE! Measure "U" will let Hemet USD continue the job of fixing our schools by: Upgrading and replacing outdated heating, ventilation and air-conditioning systems Upgrading and repairing aging restrooms and plumbing Constructing classrooms and school facilities throughout the District Renovating and modernizing outdated classrooms and school facilities Replacing temporary portable classrooms that have outlived their useful life Our local schools are our most important asset and should be our number one priority. Measure "U" will improve our community's schools, help improve housing values, stimulate our local economy and save taxpayers millions of dollars in interest. Please join us by voting YES on Measure "U"! By: William Sanborn, President, Hemet USD Governing Board Mimi Badura, Past President, Hemet/San Jacinto Council PTA Sylvia Ortiz, Retired Hemet USD Parent Liaison John Scott,Pastor Eric Gosch (No arguments against Measure U were submitted)

Tax Rate Statement from Vince Christakos, Assistant Superintendent, Business Services - Hemet Unified School District

As shown on the enclosed official ballot, an election is being held in the Hemet Unified School District ("District") on November 6, 2012, 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 $49,000,000 (an amount equal to the unissued general obligation bonds previously approved by the voters of the District in 2006) 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 measure will authorize a tax sufficient for payment of 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, in one or more series, at fixed or variable interest rates not to exceed the maximum applicable statutory rate for such bonds. If such bonds are authorized and sold, the principal thereof and the interest thereon are a general obligation of the District, payable from the proceeds of ad valorem taxes on taxable real property located within the District. 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 first 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 $0.02750 per $100 ($27.50 per $100,000) of assessed valuation. (b) It is anticipated that the bonds will be sold in more than one 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 after the last 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 $0.02750 per $100 ($27.50 per $100,000) of assessed valuation. It is estimated that this tax rate would apply in the 2015-2016 tax year (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 $0.02750 per $100 ($27.50 per $100,000) of assessed valuation. It is estimated that the highest tax rate would apply in the 2013-2014 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 Riverside 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 Riverside 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. Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined by the Riverside County Assessor in the annual assessment and the equalization process. Dated: July 17, 2012