Fail: 678 / 46.28% Yes votes ...... 787 / 53.72% No votes

See Also: Index of all Measures

If the measure is approved and bonds are issued, the District is required by law to meet certain accountability requirements. To meet these requirements, the proceeds of the bonds will be deposited in a special bond proceeds account and the Superintendent of the District will annually file a report with the Board of Trustees, setting forth the amount of funds received and expended, as well as the status of the improvement projects.The Board of Trustees will annually conduct an independent performance audit and an independent financial audit, until all proceeds from the sale of the bonds have been expended, to ensure that the funds are used only for the projects listed in this measure. In addition, the Board of Trustees shall establish an Independent Citizens' Oversight Committee to ensure that bond proceeds are expended only on the school facilities projects listed in the measure.

This measure will not become effective, and the bond issuance and sale will not occur, unless the measure is approved by fifty-five percent (55%) of the registered voters voting on the measure.

As taxpayers we can all agree in the importance of education and the value of a quality community school.

MEASURE "Y" MAKES FINANCIAL SENSE BY:

• Replacing temporary portable classrooms which currently cost the District $40,000 per year to lease.
• Protecting the property values in our community and homes.
• Providing energy-efficient, cost-effective classroom space.
• Complimenting the already secured $1.4 million in state funds to complete the project in full.
• Dovetailing efficiently with our current state grant-funded upgrades to existing permanent structures.
• Completing needed improvements now, rather than at future inflated construction costs.

• Eliminating inferior health, safety, noise, heating and ventilation conditions in the current portable classrooms.
• Providing permanent classroom space that meets current building code standards for health, safety, energy-efficiency and overall quality of learning environment.
• Ensure that Jacoby Creek School's physical facilities continue to support a first-rate education into the future.

BY LAW TAXPAYER SAFEGUARDS ARE NOW IN PLACE. MEASURE "Y" WILL:

• Establishing a citizen's oversight committee to protect taxpayer funds.
• Require annual independent audits on all Measure "Y" expenditures.
• Be used only to improve our children's schools- not to pay administrative or staff salaries.

s/ Don M. Johnson
s/ Larry Dugger, Financial Analyst, Simpson Timber Co
s/ Robert Goodman, Vinter
s/ Patti Britt Campbell, Parent
s/ Sherry Griffith, Retired Teacher

(No arguments against Measure Y 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 3.00 cents per $100 ($30.00 per $100,000) of assessed valuation in fiscal year 2007-08.

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 3.00 cents per $100 ($30.00 per $100,000) of assessed valuation in fiscal year 2008-09.

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 3.00 cents per $100 ($30.00 per $100,000) of assessed valuation in the fiscal year 2007-08.

4. The average tax rate that would be required to fund this bond issue, based on estimated assessed valuations available at the time of filing of this statement, is 3.00 cents per $100 ($30.00 per $100,000) of assessed valuation.

Voters should note that the estimated tax rates are based on the ASSESSED VALUEof 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.

These estimates are based on projections derived from information obtained from official sources.The actual tax rates and the years in which they will apply may vary depending on the timing of bond sales, the amount of bonds sold at each sale and actual increases in assessed valuations.The timing of the bond sales and the amount of bonds sold at any given time will be determined by the needs of the District. Actual assessed valuations will depend upon the amount and value of taxable property within the District as determined in the assessment and the equalization process.

s/ Eric Grantz, Superintendent

FINDINGS

The Jacoby Creek Charter School District (the "District"), which serves the community of Bayside and a portion of unincorporated Humboldt County, is a federal and state recognized leader in providing top quality education to Humboldt County students.

The achievements have been accrued by the District as a result of leadership and support from the Board of Trustees, staff members, parents, and members of the community. During its long history, the District has benefited from a community which supports its educational institution and its high standards for academic achievement.

In order to provide our local students with the same quality classrooms and school facilities as other California school districts, major repairs, upgrades, and classroom construction are necessary to ensure these buildings will remain functional for future generations.

The Board has prepared a facilities plan and identified significant repairs, upgrades, and classroom and facility construction needs that are more than the District is able to fund from currently available sources or annual revenues.

The District has successfully sought, and continues to seek, all available outside sources of funding to improve our school buildings, including local, state, and federal grants and state bond funds. Historically, the state requires that local school districts provide local funds as a condition of receipt of state matching funds.

It is necessary to seek voter approval of a bond measure in order to provide the local funding necessary for Jacoby Creek School to replace its temporary portables with permanent classrooms.

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 $2,500,000 in aggregated principal at interest rates below the legal limit, to provide finance 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.

Approval of this Bond Measure (the "Measure") does not guarantee that the proposed project or projects in the District that are the subject of bonds under the Measure will be funded beyond the local revenues generated by the Measure.If state matching funds become available, they will be used for and applied to the Bond Project List as per Exhibit A-1.

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 has prepared an updated facilities plan in order to evaluate and address all of the facilities needs of the District.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 expanded 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 annually 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 or acquisition or lease of real property for 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 Humboldt County Treasurer, as required by the California Education Code.

EXHIBIT A-1 BOND PROJECT LIST

The specific school facilities projects to be funded are as follows:

• Replace temporary portable classrooms with new permanent facilities.

NOTICE IS HEREBY GIVEN to the qualified electors of the Jacoby Creek Charter School District (the "District") located in the County of Humboldt, State of California, that in accordance with applicable law, an election will be held on Tuesday, the 7th day of November, 2006, in the District, at which election there will be submitted to the voters the question of issuing and selling bonds of said District in the amount of not to exceed Two Million Five-Hundred Thousand Dollars ($2,500,000) in accordance with the actions relating thereto taken by the Board of Trustees of the District.

All of the purposes enumerated herein are hereby united and shall be voted upon as one single proposition.

The bonds proposed to be issued and sold shall bear interest at a rate not exceeding twelve percent (12%) per annum.

The number of years the whole or any part of the bonds are to run shall not exceed the statutory maximum, which is twenty-five (25) years in the case of bonds issued under the authority of the Education Code and forty (40) years in the case of bonds issued under the authority of the Government Code, from the date of the bonds or the date of any series thereof.

Each qualified elector of the District shall be entitled to vote only in the District election precinct of which he/she is a resident. The electors in the District shall vote on the following measure on November 7, 2006:

Shall the Jacoby Creek Charter School District replace temporary portable classrooms with new permanent facilities by issuing $2.5 million of bonds at interest rates within legal limits and with citizen oversight?