League of Women Voters of California
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Measure R Fire Safety City of Fremont Bond Issue - 2/3 vote 28463 / 74.4% Yes votes ...... 9797 / 25.6% No votes
See Also:
Index of all Measures |
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Results as of Nov 15 4:54pm, 100.0% of Precincts Reporting (117/117) |
Information shown below: Impartial Analysis | Arguments | Tax Rate Statement | | ||||
To improve Fremont's fire safety and emergency response capability by replacing three small, substandard fire stations; strengthening the remaining seven fire stations to better withstand earthquakes and serve the community after an emergency; and building a public safety training center, shall the City of Fremont issue $51 million in general obligation bonds at the lowest interest rates possible, with the moneys deposited in a special account to be used only for these projects?
The City of Fremont proposes to issue bonds not to exceed $51,000,000 with a maturity not to exceed the maximum term allowed by law (40 years) with annual interest thereon not to exceed the maximum rate allowed by law (12%). The bonds would be repaid through a property tax levied upon the taxable value of real property and the improvements thereon. A "yes" vote is a vote to authorize the issuance and sale of the general obligation bonds not to exceed the principal amount of $51,000,000. The funds derived from the sale of the bonds would be expended to improve Fremont's fire safety and emergency response capability by replacing three small, substandard fire stations; strengthening the remaining seven fire stations to better withstand earthquakes and serve the community after an emergency; and building a public safety training center.
A "no" vote is a vote not to authorize the issuance and sale of said bonds.
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Official Information
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Arguments For Measure R | Arguments Against Measure R |
Ensuring your safety, and that of your family, home, and our businesses, is our
top priority. To that end, we have identified about $50 million of investment in
critical public safety projects we must address as soon as possible. Measure R,
the Fire Safety Bond, will raise the funds needed to improve fire safety and
emergency services by:
All of these improvements will be completed within seven years. All funds raised will be deposited in a special account and can be used only for these specific projects. We all need these new and improved facilities now. The safety of your family depends on it.
Join us in voting yes on Measure R.
| NO ARGUMENT AGAINST MEASURE R WAS SUBMITTED.
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Tax Rate Statement from the Deputy City Manager and Chief Financial Officer |
An election will be held in the City of Fremont (the "City"), located in
Alameda County, on November 5, 2002, for the purpose of submitting to the
electors of the City the question of incurring a bonded indebtedness of the City
in a principal amount not to exceed $51,000,000. It is expected that bonds
would be issued over time in more than one series. If such bonds are authorized
and sold, the principal thereof and interest thereon will be payable from the proceeds
of tax levies made upon the taxable property in the City.
The following information regarding tax rates is given to comply with Sections 9400-9404 of the California Elections Code. Such information is based upon the best estimates and projections presently available from official sources, upon experience within the City, and other demonstrable factors. Based upon the foregoing and projections of the City's assessed valuation, and assuming the entire debt service will be amortized through property taxation:
1. The best estimate of the tax which would be required to be levied to fund
the bond issue during the first fiscal year after the sale of the first series
of bonds, based on estimated assessed valuations available at the time of
filing of this statement, is 0.716 cents per 100 dollars ($7.16 per
$100,000) assessed valuation for the year 2003/04.
Attention to all voters is directed to the fact that the foregoing information
is based upon projections and estimates only, which are not binding upon the
City. The actual times of sales of said bonds and the amount sold at any given
time will be governed by the needs of the City and other factors. The actual
interest rates at which the bonds will be sold, which in any event will not exceed
the maximum permitted by law, will depend upon the bond market at the time
of each bond sale. Actual assessed valuation in future years will depend upon
the value of property within the City as determined in the assessment and the
equalization process. Hence, the actual tax rates and the years in which such
rates are applicable may vary from those estimates.
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