Vote Yes on Los Angeles County Measure AV - 2016 general Election
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  Commentary    Question    Analysis    Argument in Favor    Rebuttal in Favor    Argument Against    Rebuttal Against    Full Text    Tax Rate  

Commentary on Measure AV

Are you sure you want vote to support this extravagant measure? It has no accountability.

This campaign was designed by a member of the school bonds cartel. We figured out just the right words to get you to you to open up your checkbook.

We'd also like to introduce you to our partners -- bond lawyers, brokers, wealthy investors, architects, management firms, construction companies, and trade unions. We all stand to make a ton of money on these bonds. Our profits come right off the top, before a penny is actually spent on improving the facilities.

We're not just doing it for the money. We like to show off our work in Architectural Digest and other places where the rich and famous congregate.

Remember, we've taken a lot of risk. We gave money to get your governing board members elected, so they'd be sure to remember us when we came around for a hand-out later.

It's just business-as-usual, here in sunny Corruptifornia.

Please don't read the fine print. That's just put in by the lawyers to make what we're going to do to for you legal.

When you see highlighting in the documents below, it to see the commentary.

  Commentary    Question    Analysis    Argument in Favor    Rebuttal in Favor    Argument Against    Rebuttal Against    Full Text    Tax Rate  

Measure AV Question

ANTELOPE VALLEY COLLEGE JOB TRAINING AND UNIVERSITY TRANSFER MEASURE. To upgrade math, engineering, aerospace/ advanced manufacturing classrooms/ labs, improve class availability and safety, update technology, repair, construct, acquire facilities, sites/ equipment to maintain quality, affordable education for local students/ returning , and prepare students for jobs and transfer to four-year universities, shall Antelope Valley Community College District issue $350,000,000 in bonds at legal rates, requiring citizens' oversight, audits no money for administrators' salaries and all funds used locally?

Bonds - Yes Bonds - No

  Commentary    Question    Analysis    Argument in Favor    Rebuttal in Favor    Argument Against    Rebuttal Against    Full Text    Tax Rate  

Impartial Analysis for Measure AV

PR-004904-6 LA 010-075

IMPARTIAL ANALYSIS OF MEASURE AV

By Mary C. Wickham, County Counsel

Approval of Measure AV ("Measure") would authorize the Board of Trustees ("Board") of the Antelope Valley Community College District ("District"), which placed the Measure on the ballot by Resolution No. 15-16/20, to issue general obligation bonds in an amount not to exceed $350,000,000.

Proceeds from the sale of the bonds authorized by the Measure shall be used only for the purposes specified in the Measure, including, but not limited to, improving educational resources for veterans; constructing facilities to improve class availability and student services; repairing roofs and heating, cooling, plumbing, and electrical systems in classroom buildings; upgrading and expanding career training facilities; expanding course opportunities, classrooms, and instructional facilities in math, engineering, aerospace, advanced manufacturing, public safety, firefighting, and other vocational and academic fields; upgrading science, math, and computer labs; expanding facilities; updating technology infrastructure; providing rapid job training programs; improving disability access; constructing more classroom space; renovating, repairing, or replacing student support facilities; and upgrading college safety and security. Bond proceeds may not be expended on teacher, faculty, and administrator salaries and pensions and other operating expenses.

The Board shall cause independent performance and financial audits to be conducted annually to ensure that bond proceeds are spent only for the projects identified in the Measure. The Board shall appoint an independent Citizens' Oversight Committee in accordance with Education Code section 15278 no later than 60 days after the Board enters the election results in its minutes to ensure that bond proceeds are spent as specified in the Measure and as provided by law. The District shall create an account into which bond proceeds shall be deposited and shall comply with the reporting requirements of Government Code section 53410.

The bonds shall be issued pursuant to Education Code section 15300 et seq. or Government Code section 53506. The maximum rate of interest on any bond shall not exceed the maximum rate allowed by law. According to the District's Tax Rate Statement, the best estimate of the highest tax rate required to fund the bonds, based on a projection of assessed valuations available when the District filed its Tax Rate Statement, is $25 per $100,000 of assessed valuation, which is projected to be the same in every fiscal year that the bonds remain outstanding. Estimated tax rates are based on the assessed value of taxable property on the official tax rolls, not on the property's market value.

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

NOTICE TO VOTERS

Approval of Measure AV does not guarantee that the proposed project or projects in the Antelope Valley Community College District that are the subject of bonds under Measure AV will be funded beyond the local revenues generated by Measure AV. The district's proposal for the project or projects may assume the receipt of matching state funds, which could be subject to appropriation by the Legislature or approval of a statewide bond measure.

  Commentary    Question    Analysis    Argument in Favor    Rebuttal in Favor    Argument Against    Rebuttal Against    Full Text    Tax Rate  

Argument in Favor of Measure AV

PR-004904-7 LA 010-076

ARGUMENT IN FAVOR OF MEASURE AV

Vote YES on Measure AV to protect high quality, affordable higher education at Antelope Valley College!

With tuition skyrocketing at the University of California and Cal State, Antelope Valley College gives local students much-needed access to higher education at a fraction of the cost.

Antelope Valley College also provides invaluable opportunities for returning veterans and other adults seeking training for good paying jobs in today's economy.

Today, our local college needs urgent repairs, safety improvements and classroom, lab and technology upgrades to ensure AV students can gain needed skills and compete for jobs in aerospace, engineering, advanced manufacturing, health and other growing industries.

Measure AV will:

-Upgrade AVC campus in Lancaster and the Palmdale Center support high quality instruction, prepare students for jobs and help them transfer to four-year universities

- Increase security and safety

- Repair leaky roofs, heating, cooling, plumbing and electricity throughout aging classroom buildings

- Upgrade labs, libraries, technology and classrooms to teach 21st century skills

- Continue AVC partnership with local high schools so students can study in advanced math and science

- Add classrooms and labs to reduce overcrowding for essential academic classes Improve services for veterans and their families

Local businesses are COUNTING ON MEASURE AV to sustain the AV's economy. There's an urgent need to train workers for jobs available right here in the AV. Measure AV supports rapid job training programs to provide students technical skills needed for good jobs.

- All funds will be spent to improve Antelope Valley College. The state cannot take them away.

- Measure AV qualifies Antelope Valley College for state and federal matching funds that would otherwise go to other communities.

- Independent citizen oversight and annual audits ensure accountability.

(Continued on next page)
PR-004904-8 LA 010-077
ARGUMENT IN FAVOR OF MEASURE AV (Continued)

Please join Supervisor Mike Antonovich and leaders throughout the AV in supporting Measure AV to help Antelope Valley students and sustain our local economy.

Vote YES on Measure AV.

HON. THOMAS LACKEY
Assembly Member, 36th District

JENNIFER NAVARRO
Chairwoman, Palmdale Chamber of Commerce

BISHOP HENRY HEARNS
Mayor Emeritus, City of Lancaster

AIDA E. O'CONNOR
Founder, Edwards Civilian Military Group

MICHAEL SCOTT CUMMINGS
Antelope Valley Business Leader

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Rebuttal to Argument in Favor of Measure AV

PR-004904-9 LA 010-078

REBUTTAL TO ARGUMENT IN FAVOR OF MEASURE AV

At a cost of $350 million, Measure AV will NOT lower tuition for a single student. It will NOT increase access to higher education at Antelope Valley College. It will NOT hire a single teacher to provide high quality instruction. It will NOT train a single student for a job.

The $350 million bond will be used to repair, renovate, remodel, and build buildings. Buildings do not teach students nor improve the lives of veterans. Access to classes is limited by the number of classes available, which is limited by the number of teachers available. Measure AV will not provide the teachers desperately needed to educate and train our students.

At $350 million Measure AV WILL create an excessive tax burden for the residences of the district, to the great detriment of our senior citizens and others on a fixed income.

Vote NO on Measure AV.

SUE BRAX
Teacher

  Commentary    Question    Analysis    Argument in Favor    Rebuttal in Favor    Argument Against    Rebuttal Against    Full Text    Tax Rate  

Argument Against Measure AV

PR-004904-10 LA 010-079

ARGUMENT AGAINST MEASURE AV

Antelope Valley College is proposing yet another bond. The voters are still paying for the last bond, much of which was squandered on a state-of-the-art sports complex. This $350 million bond is earmarked for the renovation of a gymnasium and, with whatever money is left over, seven other buildings.

While we may be told that this bond or that proposition will cost "just pennies a day," look at all the measures on this ballot which will increase your tax bill. "Pennies a day" quickly become "dollars a day." For senior citizens and others on a fixed income, the tax burden is simply too much.

A fixed income means when the tax bill goes up, your standard of living goes down. As your house ages home repairs become increasingly frequent and costly. Seniors spend more and more on health issues. medicare copays, dentists, and eye doctors, yet their income seldom increases. They have to do more with less. Each bond that is passed forces them to decide what they must give up to meet this new tax obligation. Just paying to keep body and soul together is often a struggle for seniors.

The college is planning to raise $250,000 for the campaign to pass this measure. Instead of spending a quarter of a million dollars to pass the bond, the college could spend the money on renovating the existing classrooms and laboratories. Until all other funding options are exhausted the burden should not be placed on the taxpayers.

Vote NO on Measure AV

SUE BRAX
Teacher

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Rebuttal to Argument Against Measure AV

PR-004904-11 LA 010-080

REBUTTAL TO ARGUMENT AGAINST MEASURE AV

The opponent ignores our community's history of solving problems and working together and grossly misrepresents the facts.

Antelope Valley's most respected taxpayer champions support Measure AV because ensuring an affordable, high quality education for local students, veterans and workers is one of the best investments we can make to protect home values and foster a thriving local economy.

Here are the FACTS:

FACT -The District has a proven track record of spending taxpayers' dollars carefully and responsibly, with the citizens' oversight committee reports and annual audits to prove it.

FACT: Measure AV will make critical improvements and safety repairs and replace 60-year-old buildings to ensure our local community college continues preparing students, veterans and workers for good-paying jobs and transfer to four-year universities.

FACT AV provides locally controlled funding that cannot be taken by the State and make the college self-reliant to address future maintenance needs without pursuing additional funding.

FACT: There is no other source of funding to address these needs:

Make urgent repairs to older facilities and increase safety/security
Improve programs and educational resources for veterans and disabled persons
Improve/replace outdated classrooms and labs for career preparation in fields like aerospace, engineering, and healthcare

FACT: Measure AV qualifies AVC for state matching funds that would otherwise go to other communities.

FACT: A mandatory independent citizens' oversight committee and annual audits will ensure Measure AV funds are spent only on voter-approved projects.

Study the FACTS and vote YES on AV.

TOM LACKEY
Assembly Member, 36th District

JENNIFER NAVARRO
Chairwoman, Palmdale Chamber of Commerce

BISHOP HENRY HEARNS
Mayor Emeritus City of Lancaster

AIDA E. O'CONNOR
Founder Edwards Civilian-Military Support Group

MICHAEL SCOTT CUMMINGS
Antelope Valley Business Leader

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Full Text of Measure AV

PR-004896-8 LA 010-069

FULL TEXT OF BALLOT MEASURE AV

"ANTELOPE VALLEY COLLEGE JOB TRAINING AND UNIVERSITY TRANSFER MEASURE. To upgrade math, engineering, aerospace/advanced manufacturing classrooms/labs, improve class availability and safety, update technology, repair, construct, acquire facilities, sites/equipment to maintain quality, affordable education for local students/returning veterans, and prepare students for jobs and transfer to four-year universities, shall Antelope Valley Community College District issue $350,000,000 in bonds at legal rates, requiring citizens' oversight, audits no money for administrators' salaries and all funds used locally?"

Bonds Yes Bonds No

PROJECTS

The Board of Trustees of the Antelope Valley Community College District, to be responsive to the needs of its community, evaluated Antelope Valley College's urgent and critical facility needs, and its capacity to prepare students, active military and Veterans for jobs and transfer to four-year universities. Class availability, basic repairs, safety issues, class size, information and computer technology infrastructure were each considered, in developing the scope of projects to be funded, as outlined in the District's Facilities Master Plan, incorporated herein by reference in its entirety (the "Master Plan"), and available for review on the District's website (www.avc.edu). In developing the scope of projects, the faculty, staff, students and community have prioritized improving educational resources for returning veterans, improving the availability of classes, maintaining technology updates, and facilities available to support an affordable education, so that the most critical needs that will make the Antelope Valley College an effective place for learning, would be addressed. In the course of developing the Master Plan, public input was received. It was concluded that if these facility needs were not addressed now, Antelope Valley College would be unable to remain competitive in preparing students for local jobs in high demand industries and university transfer. The Board concluded that the longer they waited to repair and upgrade Antelope Valley College, the more expensive it would be. In implementing the Master Plan the Board of Trustees determines that Antelope Valley College MUST:

  1. (i) Improve educational resources for returning veterans;
  2. (ii) Construct facilities to improve the class availability and student services;
  3. (iii) , heating, cooling, plumbing and electricity systems throughout the aging classroom buildings;
  4. (iv) Prepare students for jobs and transfer to four-year universities; and
  5. (Continued on next page)
    PR-004904-1 LA 010-070
    FULL TEXT OF BALLOT MEASURE AV (Continued)

  6. (v) Adhere to stringent FISCAL ACCOUNTABILITY safeguards including:
    1. (a) Require Annual Financial Audits,
    2. (b) Require of all funds,
    3. (c) ALL FUNDS WILL BE SUBJECT TO LOCAL CONTROL AND WILL REMAIN LOCAL IN ANTELOPE VALLEY COLLEGE AND CANNOT BE TAKEN BY THE STATE.

The Master Plan is available for review at the Superintendent/President's office and at www.avc.edu. The following types of projects are authorized to be undertaken at Antelope Valley College:

PROVIDE JOB TRAINING AND COLLEGE TRANSFER

Academic Facility and Technology Upgrade
Projects to Support Students, Active Military
and Veterans Transfer to Four-Year
Universities or be Trained For 21ST Century
Jobs

Goals and Purposes: Since community colleges are an essential safety net, providing education for students that can?t get in to or can?t afford four-year colleges and universities, this measure will help make sure Antelope Valley College can continue providing local, high-quality, affordable higher education and job training for these students.

We must train our local workforce for high-tech jobs in aerospace, engineering and advanced manufacturing industries. This measure will continue fast-paced job training programs for local students and professionals continuing their education to meet the demands of local employers.

Thus the District requires FUNDS that ARE LOCALLY CONTROLLED to improve academic and student support facilities and updated learning technology which will allow them to continue providing ACCESS TO AFFORDABLE, HIGH QUALITY EDUCATION to local students, active military and veterans, including:

  • ? Upgrade and expand facilities for career training in well-paying jobs and transfer to universities.
  • ? Expand course opportunities, classrooms and instructional facilities in math, engineering, aerospace, and advanced manufacturing, public safety and firefighting, vocational job training classrooms, and other core academic facilities.

(Continued on next page)
PR-004904-2 LA 010-071
FULL TEXT OF BALLOT MEASURE AV (Continued)

  • ? Improve educational resources to all students, including returning veterans.
  • ? Upgrade outdated science, math and computer labs and expand College facilities providing instruction in Science, Technology, Engineering and Math (STEM).
  • ? Update technology infrastructure.
  • ? Construct facilities to improve class availability and improve job placement and career guidance.
  • ? Provide rapid job training programs to prepare students for local high-tech jobs.

Basic Repair Projects to
Provide Greater Access to an Affordable Education

Goals and Purposes: Some of the buildings at the Antelope Valley College have not been updated in over 50 years.

This measure will pay for much-needed safety upgrades, roof repair, and other facility improvements to bring our Antelope Valley College up to today?s technology and keep the College in good standing for years to come. This measure will allow the Antelope Valley College to quality for state and federal matching funds that it would otherwise not be eligible for.

This measure will continue and expand partnerships with local K-12 schools to allow students of lower income families the opportunities to excel in higher education that many of their parents never had.

  • ? Improve access for people with disabilities.
  • ? Repair or replace leaky roofs, heating, cooling and plumbing and electricity throughout aging classroom buildings.
  • ? Upgrade vocational training facilities, construct more classroom space.
  • ? Renovate, repair or replace outdated laboratories, classrooms, training centers and student support facilities.
  • ? Upgrade College safety and security.
  • ? Avoid overcrowding in classrooms and labs.

(Continued on next page)
PR-004904-3 LA 010-072
FULL TEXT OF BALLOT MEASURE AV (Continued)

FISCAL ACCOUNTABILITY

This bond measure has strict accountability requirements including:

1. All money will benefit Antelope Valley College and CANNOT BE TAKEN BY THE STATE.

2. NO MONEY can be used for ADMINISTRATOR SALARIES or pensions.

3. Require CITIZENS' OVERSIGHT and yearly reports to the community to keep the College accountable for how the funds are spent.

4. NO ADMINSTRATOR SALARIES. Proceeds from the sale of the bonds authorized by this proposition shall be used only for the acquisition, construction, reconstruction, rehabilitation, or replacement of school facilities, including the furnishing and equipping of school facilities, and not for any other purpose, including teacher, faculty and college administrator salaries, pensions and other operating expenses.

5. FISCAL ACCOUNTABILITY. THE EXPENDITURE OF BOND MONEY ON THESE PROJECTS IS SUBJECT TO STRINGENT FINANCIAL ACCOUNTABILITY REQUIREMENTS. BY LAW, PERFORMANCE AND FINANCIAL AUDITS WILL BE PERFORMED ANNUALLY, AND ALL BOND EXPENDITURES WILL BE MONITORED BY AN INDEPENDENT CITIZENS? OVERSIGHT COMMITTEE TO ENSURE THAT FUNDS ARE SPENT AS PROMISED AND SPECIFIED. THE CITIZENS? OVERSIGHT COMMITTEE MUST INCLUDE, AMONG OTHERS, REPRESENTATION OF A BONA FIDE TAXPAYERS ASSOCIATION, A BUSINESS ORGANIZATION AND A SENIOR CITIZENS ORGANIZATION. NO DISTRICT EMPLOYEES OR VENDORS ARE ALLOWED TO SERVE ON THE CITIZENS? OVERSIGHT COMMITTEE.

The listed projects will be completed . is assumed to include its share of furniture, equipment, architectural, engineering, and similar planning costs, program/project management, staff training expenses and a customary contingency. In addition to the listed projects stated above, authorized projects also include the acquisition of a variety of instructional, maintenance and operational equipment, including the and interim funding incurred to advance fund projects from payment of the costs of preparation of all facility planning, facility studies, assessment reviews, facility master plan preparation and updates, environmental studies (including environmental investigation, remediation and monitoring), design and construction documentation, and temporary housing of dislocated college activities caused by construction projects. In addition to the projects listed above, repair, renovation and construction projects may include, but not (Continued on next page)
PR-004904-4 LA 010-073
FULL TEXT OF BALLOT MEASURE AV (Continued)
be limited to, some or all of the following: replacement or renovation of student and staff restrooms; replace aging electrical and plumbing systems; repair and replacement of heating and ventilation systems; upgrade of facilities for energy efficiencies, including photovoltaic/solar installations; repair and replacement of worn-out and leaky roofs, windows, walls doors and drinking fountains; removal of outdated buildings and construction of new classrooms and support buildings; installation of wiring and electrical systems to safely accommodate computers, technology and other electrical devices and needs; upgrade facilities to meet current earthquake safety standards; repair and replacement of fire alarms, emergency communications and security systems; upgrading, resurfacing, replacing or relocating of hard courts, fields, turf and irrigation systems; upgrade classrooms; build or upgrade library, facilities for math, physical sciences, fine arts, theatre arts, and horticulture; upgrade existing parking lots/garages; repair, upgrade and install interior and exterior lighting systems; replace water and sewer lines and other plumbing systems; construct, upgrade or expand library, learning center, student resources building, applied arts building, business education building, foreign language and humanities buildings, physical education facilities, student services building, modernize gym, administrative offices, maintenance yard/warehouse/central plant building, student service and instructional buildings, fine and performing arts facilities, community center, Science, Technology, Engineering and Math (STEM) facilities, music and dance building, athletic fields, student services building, Interdisciplinary Instructional building(s), parking lots, turf; upgrade and improve classrooms and labs at the Palmdale Center; improve water conservation and energy efficiency; replace elevators; replace outdated security systems; replace existing window systems with energy-efficient systems to reduce costs; improve insulation, weatherproofing and roofs to reduce costs; improve access for the disabled; install and repair fire safety equipment, including alarms, smoke detectors, sprinklers, emergency lighting, and fire safety doors; replace broken concrete walks, deteriorated asphalt; replace/upgrade existing signage, bells and clocks; demolition of unsafe facilities; install new security systems, such as security (surveillance) cameras, outdoor lighting, fencing, gates and classroom door locks; replace sewer lines and improve drainage systems to prevent flooding; upgrade roadway and pedestrian paths for improved safety and access for emergency vehicles, site parking, utilities and grounds. The upgrading of technology infrastructure includes, but is not limited to, the funding of a technology fund, LCD projectors, portable interface devices, servers, switches, routers, modules, sound projection systems, information systems, printers, digital white boards, upgrade voice-over-IP, communication systems, computers, call manager and network security/firewall, Internet connectivity, wireless systems, technology infrastructure, and other miscellaneous equipment.

(Continued on next page)
PR-004904-5 LA 010-074
FULL TEXT OF BALLOT MEASURE AV (Continued)

The allocation of bond proceeds will be affected by the District's receipt of State matching funds and the final costs of each project. In the absence of State matching funds, which the District will aggressively pursue to reduce the District's share of the costs of the projects, the District will not be able to complete some of the projects listed above. Some projects, such as Students On Academic Rise (SOAR), CSUB/University and other facilities, may be undertaken as joint use projects in cooperation with other local public or non-profit agencies. The budget for each project is an estimate and may be affected by factors beyond the District's control. The final cost of each project will be determined as plans and construction documents are finalized, construction bids are received, construction contracts are awarded and projects are completed. Based on the final costs of each project, certain of the projects described above may be delayed or may not be completed. Demolition of existing facilities and reconstruction of facilities scheduled for repair and upgrade may occur, if the Board determines that such an approach would be more cost-effective in creating more enhanced and operationally efficient campuses. Necessary site preparation/restoration may occur in connection with new construction, renovation or remodeling, or installation or removal of relocatable classrooms, including ingress and egress, removing, replacing, or installing irrigation, utility lines, trees and landscaping, relocating fire access roads, and acquiring any necessary easements, licenses, or rights of way to the property. when performing work on or to bond projects. Bond proceeds shall only be expended for the specific purposes identified herein. The District shall create an account into which proceeds of the bonds shall be deposited and comply with the reporting requirements of Government Code 53410.

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Measure AV Tax Rate Statement

PR-004904-12 LA 010-081

TAX RATE STATEMENT -MEASURE AV

An election will be held in the Antelope Valley Community College District (the "District") on November 8, 2016, to authorize the sale of up to $350,000,000 in bonds of the District to finance facilities as described in the measure. If such bonds are authorized and sold, principal and interest on the bonds will be payable only 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. Such information is based upon the best estimates and projections presently available from official sources, upon experience within the District, and other demonstrable factors. Based upon the foregoing and projections of the District's assessed valuation, the following information is provided:

1. 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 first series of bonds, based on a projection of assessed valuations available at the time of filing of this statement, is $0.025 per $100 of assessed valuation (or $25.00 per $100,000 of assessed value) for fiscal year 2017-18.

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 a projection of assessed valuations available at the time of filing of this statement, is $0.025 per $100 of assessed valuation (or $25.00 per $100,000 of assessed value) for fiscal year 2031-32.

3. The best estimate of the highest tax rate which would be required to be levied to fund this bond issue, based on a projection of assessed valuations available at the time of filing of this statement, is $0.025 per $100 of assessed valuation (or $25.00 per $100,000 of assessed value), which is projected to be the same in every fiscal year that the bonds remain outstanding.

4. The best estimate of the total debt service, including the principal and interest, that would be required to be repaid if all the bonds are issued and sold is approximately $695,541,300.

Voters should note the estimated tax rate is based on the ASSESSED VALUE of taxable property on the County's official tax rolls, not on the property's market value. In addition, taxpayers eligible for a property tax exemption, such as the homeowner's exemption, will be taxed at a lower effective tax rate than described above. Property owners should consult their own property tax bills and tax advisors to determine their property's assessed value and any applicable tax exemptions.

(Continued on next page)
PR-004904-13 LA 010-082
TAX RATE STATEMENT - MEASURE AV (Continued)

The attention of all voters is directed to the fact that the foregoing information is based upon projections and estimates only, which are not binding upon the District. The actual debt service, the 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 date of sale and the amount of bonds sold at any given time will be determined by the District based on the need for project 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 sale. Actual future assessed valuations 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.

EDWARD KNUDSON
Superintendent/President
Antelope Valley Community College District

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