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Measure T School Bonds Potter Valley Community Unified School District Bond - 55% Approval Required Pass: 338 / 68.01% Yes votes ...... 159 / 31.99% No votes
See Also:
Index of all Measures |
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Information shown below: Impartial Analysis | Arguments | Tax Rate Statement | Full Text | ||||
To modernize and improve Potter Valley schools, upgrade outdated electrical infrastructure, create classrooms with improved climate control and the capacity to use today's instructional technology, and make other basic repairs, shall the Potter Valley Community Unified School District be authorized to issue up to $3,100,000 in bonds at legal interest rates, with an Independent Citizens' Oversight Committee and annual audits to ensure funds are ONLY spent improving LOCAL classrooms and facilities, and NOT for administrator salaries or any other purpose?
This measure includes the accountability requirements set forth in the Constitution and Education Code. This measure shall become effective only upon the affirmative vote of fifty-five percent (55%) of those electors voting on the measure. Pursuant to Elections Code Sections 9400 et seq., the District has prepared a Tax Rate Statement which estimates the property tax levies required to pay off the bonds. The information provided is based on the District's projections and estimates and are not binding on the District. Proceeds from the sale of the bonds authorized by this proposition, if passed, shall not be used for teacher and administrator salaries and other operating expenses. A YES vote will authorize the issuance and sale of bonds for said purposes. A NO vote will disallow the issuance and sale of bonds for said purposes.
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Official Information Information related to November 2015 School Bond Measure
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Arguments For Measure T | Arguments Against Measure T |
In Potter Valley, we have supported our own schools for almost 100 years. They foster a culture of academic excellence and, as the recreational and cultural center of the Valley, the schools also bring the community together + but now they need our help! Vote YES on Measure "T"!
The classrooms and facilities of Potter Valley schools have been well-maintained, but only received limited improvements more than two decades ago and many buildings are over 50 years old. Despite staff's dedication to maintenance and repair, some buildings and infrastructure have well exceeded their useful lives and need to be renovated and upgraded. To meet the demands of current and future students, the Board initiated a planning process in 2013 and commissioned a report detailing our facilities needs + and though we may not be able to meet all of them, we simply cannot ignore the age of our classrooms and facilities. To make at least some improvements a reality, the Board gathered your input, evaluated all of its options, and decided to ask the community for an investment by placing Measure "T" on the November ballot. Measure "T" will:
Measure "T" requires:
Modernize and improve Potter Valley schools! Vote YES on Measure "T"! s/Joleen Logan Mother/Rancher s/Carre Brown Landowner s/Camille Schraeder President, PVYCC, Director RCS s/Ralph S. Paulin Community Member s/Paul R Johnson PVCUSD Board President
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Tax Rate Statement from Superintendent, Potter Valley Community USD |
An election will be held in the Potter Valley Community Unified School District (the "District") on November 3, 2015, to authorize the sale of up to $3,100,000 in bonds of the District to modernize and improve Potter Valley schools. Specifically, bond proceeds shall be utilized for the purposes of financing 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.
If the bonds are authorized and sold, debt service thereon 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. It is anticipated that the District will sell the bonds in two (2) separate series. 1. 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 6¢ per $100 ($60.00 per $100,000) of assessed valuation in fiscal year 20162017. 2. 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 last series of bonds, based on estimated assessed valuations available at the time of filing of this statement is 6¢ per $100 ($60.00 per $100,000) of assessed valuation in fiscal year 2019-2020. 3. 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 6¢ per $100 ($60.00 per $100,000) of assessed valuation. 4. 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 6¢ per $100 ($60.00 per $100,000) of assessed valuation. 5. The best estimate of the total debt service, including principal and interest, that would be required to be repaid if all the bonds are issued and sold is $5,400,000. Voters should note that the estimated tax rates are based on the ASSESSED VALUE of taxable property on the 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, the years in which they will apply, and the total debt service may vary 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 the need for construction funds and other factors, 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 sale. Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined by the County Assessor in the annual assessment and the equalization process. Dated: July 28, 2015 |
Full Text of Measure T |
Upon the passage of Measure T, the Potter Valley Community Unified School District (the "District" shall be authorized to issue bonds in the aggregate amount of $3,100,000, bearing interest at rates not exceeding the statutory limit, for the purpose of funding the school facilities projects listed below under the heading "School Facilities Projects to Be Funded with Proceeds of Bonds" (the "Bond Project List").
Background Potter Valley Elementary School was built in the 1950s, with some modernization occurring in the 1980s. Potter Valley Junior High School and Potter Valley High School were built in the late 1970s and completed in the 1980s. The Board of Trustees (the "Board") and administration recognize the need to modernize facilities so Potter Valley schools can meet the demands of current and future students. As a result, the District initiated a long-term planning process in 2013 and commissioned a report detailing all facilities needs. Said report is available for review at the District office and incorporated into the Bond Project list by this reference. Proposition 39 Bond Accountability Measures At its July 27, 2015 meeting, the Board certified that it evaluated safety, class size reduction, and information technology needs in developing the Bond Project List set forth below. The proceeds of the Bonds shall be used only for the projects identified in the Bond Project List, and not for any other purpose (i.e., teacher and administrative salaries and other school operating expenses). The District will deposit the proceeds of the bonds in a separate account. The Board is bound to conduct financial and performance audits annually to account for the bond funds and to assure that funds have only been expended on the specific projects authorized. The District shall prepare and deliver an annual report to the Board containing the amount of funds collected and expended as well as the status of school facilities projects authorized to be funded by proceeds of the Bonds. The Board will appoint a citizen's oversight committee (the "Committee") having a minimum of seven members and including at least one member active in a business organization representing the business community located within the District, one member active in a senior citizens' organization, one member active in a bona fide taxpayers' organization, one member who is the parent or guardian of a child enrolled in the District, and one member who is both a parent or guardian of a child enrolled in the District and active in a parent-teacher organization. All Bonds will be sold as current interest bonds, and the use of capital appreciation bonds will not be permitted. School Facilities Projects to Be Funded with Proceeds of Bonds The Board has prioritized projects and reviewed a plan to best utilize Measure T funds, which is also available for review at the District office and incorporated into this Bond Project List by this reference. Specifically, Measure T will provide funds for all or some of the following:
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