216 / 67.9% Yes votes ...... 102 / 32.1% No votes

See Also: Index of all Measures

At the discretion of the governing board, all or any part of the bonds could be sold; provided, however, that the interest rate shall not exceed the maximum rate allowed by law. The proceeds of the bonds could be used to modernize classrooms, make health and safety improvements including restroom improvements, upgrade school facilities, update inadequate electrical systems to improve student access to computers and modern technology, and renovate the school.

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 first series of bonds, based on estimated assessed valuations, is $0.03 per $100 ($30.00 per $100,000) of assessed valuation in fiscal year 2003/04. The best estimate of the tax rate 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 at the time of filing of the tax rate statement is $0.03 per $100 ($30.00 per $100,000) of assessed valuation in fiscal year 2003/04. The tax rate is estimated to be the same in each year the bonds are outstanding.

The tax rate estimates above are based upon the District's projections and estimates only, and are not binding on the District. The actual tax rates and the years in which they will apply may vary from those presently estimated due to variations in the timing of bond sales, the amount of bonds sold at any given sale, market interest rates at the time of the bond sale, and actual assessed valuations over the term of repayment of the bonds.

The conduct of this bond election and the issuance of bonds will be in conformity with existing laws of the State of California and will not otherwise affect existing law. This analysis is submitted by the Office of the San Joaquin County Counsel pursuant to the requirements of Section 9500 of the Elections Code of the State of California.

The Banta Elementary School District is in its 125th year of existence. In that time, it has provided generations of students with a quality education while maintaining fiscal responsibility. The current school site is over 30 years old and is in immediate need of repairs to its roof, carpets and heating and air conditioning units. In addition, the school is in need of energy efficient lighting to reduce the District's energy costs. The $800,000 bond measure will go directly to these necessities in order to modernize the facility to serve current and future students. None of the money will be used for any administrative enhancements whatsoever.

The $800,000 bond measure will enable the Banta School District to continue to provide a quality education well into the 21st century.

The following items will be upgraded/and or modernized to meet today's standards:

· Heating, ventilation, and air conditioning system replacement (Emhoff Wing)
· Computer lab development and furnishings
· Library improvements # reframe non-DSA approved demising walls, provide tackable wall surface, shelving, checkout counter and furnishings
· Classroom floor covering replacement (Emhoff Wing)
· Ceiling replacement and lighting upgrades (Emhoff Wing)
· Multi-purpose roof replacement
· Interior painting throughout (Emhoff Wing)
· Stage improvements
· Address site and building accessibility issues throughout
· Restroom upgrades (Emhoff Wing)
· Exterior painting

Submitted by:

/s/Frank Silva

President of the Board of Trustees

Superintendent of Banta Elementary School District

Parent

Parent

(No arguments against Measure X were submitted)

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 first series of bonds, based on estimated assessed valuations available at the time of filing of this statement, is 3 cents per $100 ($30.00 per $100,000) of assessed valuation in fiscal year 2003-04.

2. The best estimate of the tax rate 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 3 cents per $100 ($30.00 per $100,000) of assessed valuation in fiscal year 2003-04.

3. The tax rate is estimated to be the same in each year the bonds are outstanding.

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 and the years in which they will apply may vary from those presently estimated, due to variations from these estimates in the timing of the bond sale, market interest rates at the time of the sale, and actual assessed valuations over the term of repayment of the bonds. The date of the sale will be determined by the District based on need for construction funds and other factors. 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 1, 2002.

/s/ William Draa

Superintendent
Banta Elementary School District

This proposition may be known and referred to as the Banta Elementary School District 2002 School Improvement Bond or Measure X.

BOND AUTHORIZATION

By approval of this proposition by at least 55 percent of the registered voters voting on the proposition, the District shall be authorized to issue and sell bonds of up to $800,000 in principal at interest rates below the legal limit, to provide financing for the specific school facilities projects listed in the Bond Project List attached hereto as Exhibit A-1, subject to all the accountability requirements specified below.

BOND PROJECT LIST

The Bond Project List attached to this resolution as Exhibit A-1 shall be considered a part of the ballot proposition and shall be reproduced in any official document required to contain the full statement of the bond proposition.

The proposed projects include all related and incidental costs, including costs of design, engineering, architect and other professional services, site preparation, utilities, landscaping, incidental costs, and construction management.

ACCOUNTABILITY REQUIREMENTS

The provisions in this section are specifically included in this proposition in order that the voters and taxpayers in the District may be assured that their money will be spent wisely to address specific facilities needs of the District all in compliance with the requirements of Article XIIIA, Section 1(b)(3), of the State Constitution and the Strict Accountability in Local School Construction Bonds Act of 2000 (codified at Education Code Sections 15264 and following.)

Evaluation of Needs. The Board hereby certifies that it has evaluated safety, class size reduction, enrollment growth, and information technology needs in developing the Bond Project List contained in Exhibit A-1.

Independent Citizens' Oversight Committee. The Board shall establish an Independent Citizens' Oversight Committee pursuant to Education Code Section 15278 and following to ensure bond proceeds are expended only on the school facilities projects listed in Exhibit A-1. The committee shall be established within 60 days of the date when the results of the election appear in the minutes of the Board.

Performance Audits. The Board shall conduct an annual, independent performance audit to ensure that the bond proceeds have been expended only on the school facilities projects listed in Exhibit A-1.

Financial Audits. The Board shall conduct an annual, independent financial audit of the bond proceeds until all of those proceeds have been spent for the school facilities projects listed in Exhibit A-1.

Special Bond Proceeds Account: Annual Report to Board. Upon approval of this proposition and the sale of any bonds approved, the Board shall take actions necessary to establish an account in which proceeds of the sale of bonds will be deposited. As long as any proceeds of the bonds remain unexpended, the Superintendent of the District shall cause a report to be filed with the Board no later than January 1 of each year, stating (1) the amount of bond proceeds received and expended in that year, and (2) the status of any project funded or to be funded from bond proceeds. The report may relate to the calendar year, fiscal year, or other appropriate annual period as the Superintendent shall determine and may be incorporated in the annual budget, audit, or another appropriate routine report to the Board.

FURTHER SPECIFICATIONS

No Administrator Salaries. Proceeds from the sale of bonds authorized by this proposition shall be used only for the construction, reconstruction and/or rehabilitation of school facilities including the furnishing and equipping of school facilities and not for any other purpose, including teacher and administrator salaries and other school operating expenses.

The proceeds of the bonds will be deposited into a Building Fund to be held by the San Joaquin County Treasurer, as required by the California Education Code.

EXHIBIT A-1

BOND PROJECT LIST

The following items will be upgraded and/or modernized to meet today's standards:

· Heating, ventilation, and air conditioning system
replacement (Emhoff Wing)

· Computer lab development and furnishings

· Library improvements # reframe non-DSA approved demising walls, provide tackable wall surface, shelving, checkout counter and furnishings

· Classroom floor coving replacement (Emhoff Wing)

· Ceiling replacement and lighting upgrades (Emhoff Wing)

· Multi-purpose roof replacement

· Interior painting throughout (Emhoff Wing)

· Stage improvements

· Address site and building accessibility issues
throughout

· Restroom upgrades (Emhoff Wing)

· Exterior painting