14,678 / 66.99% Yes votes ...... 7,233 / 33.01% No votes

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Funds received from the sale of the bonds would be used only for the construction, reconstruction, rehabilitation, or replacement of school facilities, including furnishing and equipping the school facilities, and acquiring or leasing real property for school facilitie~. Specific school projects include renovating and equipping play fields, replacing fencing, improving ingress and egress for emergency access, repairing bleachers at intermediate and high schools, renovating, repairing and equipping paved surfaces and play areas, upgrading sound systems, replacing gym floors, expanding, equipping and furnishing student lunch areas, replacing aging backstops and fencing on play fields, constructing a practice gym faci1ity and repairing the pool systems at the Palos Verdes Peninsula High School. The funds may not be used for any other purpose, such as teacher and administrator salaries, or other school operating expenses.

The District's Board of Education ("Board") shall establish an independent Citizen's Oversight Committee to ensure bond proceeds are expended only for the identified school facility projects. The Citizen's Oversight Committee shall consist of at least seyen members and shall include members active, respectively, in a business organization in the District, in a senior citizens' organization and in a bona fide taxpayers' organization, a member that is a parent or guardian ofa child enrolled in the District, and a member that is both a parent or guardian of a child that is enrolled in the District and active in a parent-teacher organization. . - The Board shall conduct annual independent performance audits to ensure that bond proceeds have been expended only on identified school facilitY projects, and conduct annual independent financial audits of the bond proceeds until all of the proceeds have been spent. 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 the amount of bond proceeds received and e~ended in that year and the status of any project funded or to be funded from bond proceeds.

When sold, the bonds shall bear interest at an annual rate not exceeding the maximum rate then allowed by law, and the interest shall be made payable at the time or times permitted by law. The bonds may be issued and sold in several series, and no bond shall mature more than 40 years from the date of that bond.

Approval of Measure S does not guarantee that the proposed projects in the District that are the subject of the bonds will be funded beyond the local revenues generated by the Measure. The District's proposal for the identified projects assumes the receipt of matching State funds, which could be subject to appropriation by the Legislature or approval of a statewide bond measure.

This Measure requires a fifty-five percent (55%) yote for passage.

Palos Verdes Peninsula Unified School District

Daily Breeze

• Backers: Time is right for 2 Peninsula school bonds

This Measure would fund the renovation of facilities that support student instruction, including replacing deteriorating school fencing to establish a safe , school perimeter, renovating aging playfields and play courts for safety, repairing unsafe bleachers, replacing aging gym floors that can no longer be resurfaced, and adding physical education facilities to accommodate student enrollment.

Passage of Measure S will allow the PVPUSD to complete these projects at a cost of less than $2.25 per $100,000 of assessed value (not market value). Together, Measures R & S will add less than $5 per $100,000 of assessed value to the $16.47 authorized by the passage of Measure K in June 2000.

Limited state matching funds are available if the community passes Measure S. Without the passage of this measure, state matching funds will go to other school districts.

All of the projects to be funded by Measure S have gone through extensive review. This Measure will only fund priority projects that are necessary to ensure the health and safety of local students, maintain the learning environment necessary to support excellent student instruction, and provide adequate facilities for local children.

Funds from Measure S will stay on the Peninsula and may only be used for the specific facility projects listed in the detailed PVPUSD Facility Master Plan. An independent citizen oversight committee and mandatory independent annual audits of Measure S are required. No funds can be used for administrator , salaries.

Both Measures R & S are supported by a broad coalition of teachers, principals, parents, seniors, business professionals, and community leaders.

Let's finish what we started. Help complete our school facility renovations.

Please vote YES on MEASURE S.

Godfrey S. Pernell
Dentist

Larry Moore
Broker/Owner, Moore & Associates, Realtors

Mary Ross
Past President, PVP Council of PTA's

Garry Poe
Retired PVPUSD Teacher

Alvin M. Hughes
Retired Assistant Superintendent

(No arguments against Measure S were submitted)

You are hereby notified in accordance with Section 9401 of the Elections Code of California of the following:

1. 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 first sale of bonds (Fiscal Year 2006-2007), based on assessed valuations available at the time of the election and taking into account future growth, is the following:

$.00205 per $100 of assessed valuation, which equates to $2.05 per $100,000 of assessed valuation,

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 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 future growth, is as follows:

$.00205 per $100 of assessed valuation, which equates to $2.05 per $100,000 of assessed valuation.

Year after last sale of bonds: 2009-2010

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 the year in which such rate would apply, based on assessed valuations available at the time of the election and taking into account future growth, is as follows:

$.00205 per $100 of assessed valuation, which-equates to $2.05 per $100,000 of assessed valuation.

Year of highest tax rate: Tax rate is projected to be the same in every year.

IRA J. TOIBIN, Ph.D., Superintendent of Schools Palos Verdes Peninsula Unified School District