League of Women Voters of California Education Fund
	Los Angeles County, CA November 4, 2008 Election
	Measure TT School Improvements Pasadena Unified School District School Bond - 55% Approval Required Pass: 64,090 / 74.52% Yes votes ...... 21,908 / 25.48% No votes See Also: Index of all Measures

Arguments For Measure TT

Parents, teachers, students, and community leaders from Pasadena, Altadena, and Sierra Madre urge you to approve this school improvement bond. A world class community should have world class schools. Many of ours are not. MOST OF OUR SCHOOLS ARE OVER 50 YEARS OLD. Some are not up to basic safety codes. Many have inadequate electrical and plumbing systems, and dilapidated cafeterias, restrooms, and auditoriums. Forcing children to attend rundown schools sends the message that we don’t care about them. Our young people deserve schools that enhance their learning. Older buildings need regular repairs and modernization. Yet our community has issued only one facilities bond in 42 years – fewer than any neighboring district – and not enough to bring all schools up to acceptable modern standards. The school district has made significant progress in recent years in student achievement and administrative accountability. Measure T will GIVE STUDENTS AND TEACHERS THE TOOLS AND FACILITIES THEY NEED to continue this success. STRICT ACCOUNTABILITY REQUIREMENTS will protect taxpayers. An independent citizens’ oversight committee must report directly to the community on how bond funds are spent. Not one penny goes for non-bond related administration or salaries. Vote YES to guarantee that all district students have equal access to high quality learning facilities. Vote YES to make all school campuses safe and secure, and accessible to persons with disabilities. Vote YES to give all students and teachers the technology and computer systems they need to succeed. Vote YES to make “green” investments in our schools, reducing water and energy costs so we can put more money into classrooms without raising taxes. While meeting the needs of our children, Measure T also benefits our community by developing a more educated workforce, creating higher paying jobs, increasing property values, and improving our local economy. Vote YES ON MEASURE T. (No arguments against Measure TT were submitted)

Tax Rate Statement

An election will be held in the Pasadena Unified School District (the “District”) on November 4, 2008, to authorize the sale of up to $350,000,000 in bonds of the District to finance school facilities as described in the proposition. If the bonds are approved, the District expects to sell the bonds in series over time. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property in the District. The information presented in numbered paragraphs 1-3 below is provided in compliance with Sections 9400-9404 of the Elections Code of the State of California. 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 4.033 cents per $100 ($40.33 per $100,000) of assessed valuation in fiscal year 2009-10. 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 4.257 cents per $100 ($42.57 per $100,000) of assessed valuation in fiscal year 2014-15. 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 4.79 cents per $100 ($47.90 per $100,000) of assessed valuation in fiscal year 2038-39. The District’s best estimate of the average tax rate which would be required to be levied to fund this bond issue over all of the years the bonds will be outstanding is $44.63 per $100,000 of assessed valuation. Voters should note that the estimated tax rates are based on the ASSESSED VALUE of taxable property in the District as shown 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. The foregoing information is based upon the District’s projections and estimates. Approval of the ballot measure authorizes the issuance of bonds under certain conditions, and is not approval of a specific tax rate. 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 bond sales, the amount and repayment structure of bonds sold, 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 and repayment structure of bonds sold at any given time will be determined by the District based on its 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.