Pass: 36,265 / 68.8% Yes votes ...... 16,434 / 31.2% No votes

See Also: Index of all Propositions

Meaning of Voting Yes/No

A YES vote on this measure means:

A "YES" vote is a vote in favor of authorizing the District to issue and sell $90,000,000 in general obligation bonds.

A NO vote on this measure means:

A "NO" vote is a vote against authorizing the District to issue and sell $90,000,000 in general obligation bonds.

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 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.

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,
(2) the District, by evaluating safety, class size reduction, and information technology, has approved a list of specific projects to be funded,
(3) the District will conduct an annual, independent performance audit, and
(4) the District will conduct an annual, independent financial audit.

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.