League of Women Voters of California Education Fund
	Santa Barbara County, CA June 8, 2010 Election
	Measure L2010 General Obligation Bond Hope School District School bonds - 55% Approval Required Pass: 3278 / 69.07% Yes votes ...... 1468 / 30.93% No votes See Also: Index of all Measures

Arguments For Measure L2010

Hope School District has continued to improve our school facilities, and to improve the learning environment for our children. Our schools are the center of our community. We need to improve them so ALL our children have the same high quality classrooms and facilities. Due to the State's lack of funding, we now need to re-invest in our schools so they continue to provide a quality education. Measure "L" will improve our schools so ALL our children have the same high quality classrooms and facilities WITHOUT increasing taxes. MEASURE "L" WILL: Improve student access to computers and modern technology Improve the library at Monte Vista School to bring its facility to a level comparable to other neighborhood schools Provide renewable energy improvements, including solar panels to reduce energy costs and save money Not increase the current $9 tax rate. As taxpayers, we know that good schools attract families, businesses, and investment. MEASURE "L" MAKES FINANCIAL SENSE. IT WILL: Protect property values and maintain the desirability of our community Make the District eligible for over a million dollars in credits and reimbursements to install photo voltaic solar panels. Allow the District to save money while doing its part to preserve the environment. Not increase the current $9 tax rate BY LAW, TAXPAYER SAFEGUARDS ARE IN PLACE. MEASURE "L" REQUIRES: An independent citizens' oversight committee and annual audits to ensure money is used only for voter approved school improvements and repairs and not used for salaries, administration, and overhead. On Tuesday, June 8, vote YES on Measure "L"! Gerrie Faucet (No arguments against Measure L2010 were submitted)

Tax Rate Statement from Superintendent, Hope School District

Tax Rate Statement In Connection With Hope School District An election will be held in the Hope School District (the "District") on June 8, 2010 to authorize the sale of up to $8.0 million in bonds of the District to finance school facilities as described in the Measure. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property in the District. The following information 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 0.050 cents per $100 ($0.50 per $100,000) of assessed valuation in fiscal year 2011-12. 2. 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 last series of bonds, based on estimated assessed valuations available at the time of filing of this statement, is 0.181 cents per $100 ($1.81 per $100,000) of assessed valuation in fiscal year 2018-19. 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 0.900 cents per $100 ($9.00 per $100,000) of assessed valuation. 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 bond sales, the amount of bonds sold and 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 of bonds sold at any given time will be determined by the District based on the 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. Dan Cooperman, Superintendent Hope School District

Full Text of Measure L2010

FULL TEXT OF MEASURE This proposition may be known and referred to as the Hope Elementary School District General Obligation Bond of 2010, or Measure L2010. FINDINGS The Hope Elementary School District (the "District), which serves the community of Santa Barbara, and a portion of unincorporated Santa Barbara County, is a recognized leader in providing top quality education to Santa Barbara County students. The achievements have been accrued by the District as a result of the long history of visionary leadership from the Board of Trustees of the District (the "Board"), as well as from staff members, parents, and members of the District communities. During its long history, the District has benefited from a community, which supports its educational institutions by establishing high standards for academic achievement while at the same time providing the means required to meet and even to surpass those expectations. In order to provide our local students with the same 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 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 for identified school facility repairs, modernization projects, and growth needs to address student enrollment. 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 $5,000,000 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. Exhibit A - 1: 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. Exhibit A - 2 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 Santa Barbara County Treasurer, as required by the California Education Code. BOND PROJECT LIST The specific school facilities projects to be funded are as follows: Construct a modern library facility for students at Monte Vista School Modernize the Multi-purpose rooms at District Schools Improve student access to computers and modern technology Provide renewable energy improvements, including solar panels and replace lighting fixtures Furnish and equip schools to the extent permitted by law Address unforeseen conditions revealed by construction/modernization (e.g., plumbing or gas line breaks, dry rot, seismic, structural, etc.) Construct, renovate or expand student support facilities as required Perform necessary site preparation/restoration in connection with new construction, renovation or remodeling The bond proceeds may be used as the required match for the State's joint use funding program for construction and improvement of the libraries. The bond may be used to fund design, engineering and program management costs, as well as to make lease payments for leases, or to purchase authorized leased facilities. The bond may also be used to fund the cost of issuing the bonds, election costs, and the cost of obtaining and disseminating information, as authorized under State law. Exhibit A - 3: Tax Rate Statement In Connection With Hope School District An election will be held in the Hope School District (the "District") on June 8, 2010 to authorize the sale of up to $8.0 million in bonds of the District to finance school facilities as described in the Measure. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property in the District. The following information 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 0.050 cents per $100 ($0.50 per $100,000) of assessed valuation in fiscal year 2011-12. 2. 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 last series of bonds, based on estimated assessed valuations available at the time of filing of this statement, is 0.181 cents per $100 ($1.81 per $100,000) of assessed valuation in fiscal year 2018-19. 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 0.900 cents per $100 ($9.00 per $100,000) of assessed valuation. 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 bond sales, the amount of bonds sold and 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 of bonds sold at any given time will be determined by the District based on the 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. EXHIBIT B: MEASURE QUESTION To improve the quality of education, shall Hope School District be authorized to acquire, construct, and imprve facilities, increasing student access to computers and modern technology, providing comparable school libraries, and installing solar panels to qualify for over $900,000 in savings and reimbursements and reduce operating costs, by issuing $8,000,000 in bonds at legal interest rates, with an independent citizens' oversight committee, annual audits, and provided bonds are only issued with NO estimated increase in tax rate? EXHIBIT C: SCHOOL BOND ELECTION NOTICE NOTICE IS HEREBY GIVEN to the qualified electors of the Hope Elementary School District (the "District") located in the County of Santa Barbara, State of California, that in accordance with applicable law, an election will be held on Tuesday, the 8th day of June, 2010, 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 Eight Million Dollars ($8,000,000) 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 forty (40) years 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 June 8, 2010.