This is an archive of a past election. See http://www.smartvoter.org/ca/sd/ for current information. |
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Proposition E Protect Quality Education in Coronado Local Measure Coronado Unified School District 55% Approval Required
See Also:
Index of all Propositions |
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Results as of Jun 24 9:29am, 100.0% of Precincts Reporting (11/11) |
Information shown below: Yes/No Meaning | Impartial Analysis | Arguments | Tax Rate Statement | | |||||
To provide modern classroom technology and facilities students need for college/career success, continue advanced programs in math, science and the arts, acquire, construct and repair classrooms/facilities/sites/equipment, permit smaller classes, and protect Coronado's quality of education, shall Coronado Unified School District issue up to $29,000,000 in bonds at legal rates, with maturities under 5 years, all bonds repaid by September 30, 2024, less than $13,200,000 outstanding at any time, independent citizen oversight, and all money staying local?
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, could not 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:
(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. 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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News and Analysis U-T San Diego
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Arguments For Proposition E | Arguments Against Proposition E | ||||||||||||||||||||||
VOTE YES on E - PROTECT the outstanding quality of education in Coronado schools from
devastating cuts and irreversible harm.
Coronado schools are among the best in California, with superior teachers, excellent test scores, high graduation rates, and outstanding student achievement. Our award winning schools prepare students for success in both college and careers in the 21 51 century workplace. They also contribute to Coronado's high property values and quality of life. But all that could change without passage of Proposition E. CUSD faces severe cuts due to the Great Recession and the State's new school funding formula. Learn more at http://www.protectourcoronadoschools.org. Prop E provides a prudent, responsible, locally controlled solution - a school bond, which establishes stable local funding for crucial student needs and closes the budget gap. Prop E shifts essential school facility and technology needs previously funded by the District's General Fund to bond funding, so General Fund monies can be reallocated to:
ALL Prop E funds (100%) stay IN Coronado- FOR Coronado. The State CANNOT take this funding away. Prop E TAXPAYER PROTECTIONS are the most stringent for a local California school bond. They will ensure funds are raised cost effectively and only as needed. Independent Citizen Oversight will ensure that every dollar is spent wisely. Whether or not you have school-age children, this is a wise investment. Prop E will maintain quality schools attractive to discerning parents and property owners, and characteristic of high-value communities. PROTECT YOUR PROPERTY VALUES and your investment in Coronado. Join teachers, parents, seniors, homeowners, and military, civic and business leaders in protecting OUR children, OUR schools and OUR community. VOTE YES on E!
But this new bond seems to be primarily for OPERATING costs- using much of the bond money for short term expenditures normally covered by the general fund. This ruse allows the school board to avoid having to make the hard budget choices by controlling expenses. For instance, it appears that the bond money can be spent on "tech," which normally is purchased with general fund money. Apparently this bond money can be spent on computers - even iPads. Some local districts have used bond money for iPads - it's not gone well. iPads have a tendency to disappear or be broken. Furthermore these school districts grossly overpaid for these tablets because of bond interest. Finally, new software and improved tech often makes a computer or iPad obsolete in 2-5 years. This bond ploy is "kicking the can down the road" - avoiding the tough cost control decisions we all have to make in our personal lives. Isn't it likely that, in a few years, the board will come back for more bonds for operating costs - or perhaps bonds to pay off bonds? It's not just the COST of the bonds. It's the PRECEDENT of using long term debt for general fund expenditures - a slippery slope. Our federal, state and local tax rates and "fees" continue to increase. Here's one time we can say "ENOUGH!"
| Vote NO on this risky, wasteful, unaffordable property tax hike. CUSD wants to burden property taxpayers with new School Bond Debt while we're still paying off the old School Bond Debt. Homeowners may face property tax hikes and fee hikes in the City's Wastewater, Stormwater, Golf Course, Redevelopment Debt and CalPERS Pension Debt areas. Renters face rent increases because such hikes are passed through to them. Enough is enough! - They say: This new School Bond Debt measure "protects" homeowners.
REALITY: This measure seeks to overturn the only true protection we have -Proposition - They say: CUSD is in trouble because "the State changed the funding formula."
REALITY: CUSD is in trrouble because of its overspending problem. The School Board - They say: This new School Bond Debt will "only pay for capital costs" as required by law.
REALITY: It's a shell game that sneaks around the law by "freeing up" funds to pay - They say: CUSD "can't cut its way out" of its financial problems.
REALITY: Other employers cut costs and froze hiring years ago, but CUSD - They say: If you vote NO, CUSD will be "decimated."
REALITY: If you vote NO, CUSD will simply have to live within its means, like most - They say: This new debt measure is "innovative, creative, unique."
REALITY: It's plain wrong. CUSD can't dig itself out of its old debt by adding this new
Here are the facts: FACT: Prop E is about one thing- protecting quality education in Coronado schools. FACT: The real need for Prop E arises from the State funding formula imposed on Coronado Unified School District, which now places us 11th out of 12 San Diego school districts in per-pupil funding - by next year San Diego Unified will receive $1 ,200 more per student than CUSD! FACT: Prop E will NOT result in long-term debt - each bond's term MUST be less than 5 years from issuance, and all bonds MUST be paid in full by 9/30/2024. The bonds won't outlive the assets they are funding. FACT: CUSD is not in default on ANY debt, as some opponents to Prop E assert. And Prop E fully complies (100%) with California's Propositions 13 and 39. The consensus of many involved community members is that Prop E is the best available solution to keep Coronado schools competitive. Prop E protects reasonable class sizes and continues advanced instruction in math, science, technology and the arts. Without Prop E, CUSD will be constrained from providing Coronado students the technology training and education they need to succeed in the 21st century. Prop E is structured to protect Coronado schools in a prudent, responsible manner. Whether or not you have school-age children, protecting the quality of our schools, Coronado's quality of life. and the value of our homes is a wise INVESTMENT. Please VOTE "YES!" http://www.protectcorondoschools.com
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Tax Rate Statement |
To: The voters voting in the June 3, 2014 election on the question of the issuance
of $29,000,000 General Obligation Bonds of the Coronado Unified School District.
You are hereby notified in accordance with Section 9401 of the Elections Code of the State of California of the following:
$.03987 per $100 of assessed valuation, which equates to $39.87 per $100,000.
2. The best estimate from official sources of the tax rate which would be required to be
levied to fund principal and interest payments during the first fiscal year after the last
sale of bonds and an estimate of the year in which that rate will apply, based on
assessed valuations available at the time of the election and taking into account
estimated future growth, is as follows:
3. The best estimate from official sources of the highest tax rate which would be required
to be levied to fund principal and interest payments on the bonds and an estimate of
the year in which that rate will apply, based on assessed valuations available at the
time of the election and taking into account estimated future growth, is as follows:
Coronado Unified School District Jeffrey P. Felix, Ed. D. STATEMENT REQUIRED BY EDUCATION CODE SECTION 15122.5 |