Vote Yes on Los Angeles County Measure CC - 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 CC

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 CC Question

LOS ANGELES COMMUNITY COLLEGE DISTRICT AFFORDABLE EDUCATION/ JOB TRAINING/ CLASSROOM SAFETY MEASURE. To repair local community colleges/ prepare students/ for jobs/ university transfer by upgrading vocational/ career education for veterans, firefighters, paramedics nurses/ police, removing lead paint/ asbestos, upgrading campus safety/ security systems, technology, handicapped accessibility/earthquake safety, repairing deteriorating gas, water/ sewer lines, acquiring, constructing, repairing facilities, sites/equipment, shall Los Angeles Community College District issue $3,300,000,000 in bonds at legal rates, requiring independent audits, citizen oversight, 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 CC

PR-004906-6 LA 310-066

IMPARTIAL ANALYSIS OF MEASURE CC

By Mary C. Wickham, County Counsel

Approval of Measure CC ("Measure") would authorize the Board of Trustees ("Board") of the Los Angeles Community College District ("District"), which placed the Measure on the ballot by Resolution No. 2, to issue general obligation bonds in an amount not to exceed $3,300,000,000.

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, repairing gas, water, and sewer lines; replacing electrical wiring; removing lead paint and asbestos; improving water conservation, disabled access, and earthquake safety; upgrading door safety locks, security cameras, emergency notification systems, and lighting; upgrading fire alarms, sprinklers, intercoms, and fire doors; repairing water pipes and drinking fountains; repairing classrooms; upgrading classrooms and labs for science, technology, and engineering; improving classrooms for nursing, health information technology, biotech, and other technical vocational career programs; providing facilities to prepare students for transfer to four-year colleges and universities; improving educational resources for veterans; improving vocational classrooms and labs for nursing, dental, and emergency medical programs; and improving public safety academy to train police officers, firefighters, and emergency medical technicians. 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 cause the appointment of 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, and 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 be levied to fund the bonds, and an estimate of the year in which that rate will apply, is $15 per $100,000 of assessed valuation of all property to be taxed in fiscal year 2017-18.

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

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

Argument in Favor of Measure CC

PR-004906-7 LA 310-067

ARGUMENT IN FAVOR OF MEASURE CC

Vote Yes on Measure CC to upgrade our nine Los Angeles Community College District campuses: City College, East LA College, Harbor College, Mission College, Pierce College, Southwest College, Trade-Tech College, Valley College and West LA College.

Our local community colleges provide an excellent, affordable education for students of all ages, training them for local, good-paying jobs – including careers as nurses, firefighters, police and paramedics. Our nine LACCD colleges provide more than 5,000 veterans with a high quality education and prepare tens of thousands of students to transfer to four-year colleges or universities.

Our community colleges need help however. Campus safety for our more than 200,000 students is a priority. Aging gas, water, sewage and electrical systems need replacing. Asbestos and lead paint in classrooms must be removed and buildings made fire-and earthquake-safe. Upgrades are also needed to ensure students get a 21st century education in classrooms equipped with 21st century technology.

Measure CC funds go directly to improve campus buildings, not to teacher or administrator salaries.

The money from Measure CC will be carefully spent.
- An is required.
- Annual audits will add a second layer of taxpayer protection.

More than half of our students have parents who did not attend college. Nearly 50 percent work 20 to 40 hours a week and pay for their books, tuition, housing and transportation out of their own pockets. Our students are investing in their education. We should do the same.

Join business leaders, veterans and labor unions in supporting Measure CC – it's a great investment in our students and in the future of Los Angeles!

Vote Yes on Measure CC. 21st century students deserve 21st century classrooms.

SCOTT SVONKIN
Community College Board President

LURELEAN B. GAINES
Registered Nurse, Chairperson Dept. of Nursing

JULIA CASAS
U.S. Navy War Veteran

FRANK V. LIMA
President, United Firefighters of Los Angeles

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Rebuttal to Argument in Favor of Measure CC

PR-004906-8 LA 310-068

REBUTTAL TO ARGUMENT IN FAVOR OF MEASURE CC

Los Angeles Community College District doesn't deserve your trust.

Since 2001 voters have approved $5.7 billion in bonds to rebuild all nine campuses. The District promised to ease classroom crowding, make buildings safer and add new technology—all with stringent financial oversight.

Instead, millions were wasted by bad planning, frivolous spending, shoddy workmanship, nepotism and poor oversight.

In 2011, the Los Angeles Times documented the waste, fraud and abuse:

East Los Angeles College: Heating and cooling units installed upside down. Wheelchair ramp too steep for wheelchairs. New clock tower listing to side.

Valley College: Renovated theatre complex for $3.4 million, then demolished to build new theatre complex.

Southwest College: Abandoned $2 million parking lot shaded by solar panels leaving rows of poles protruding from fresh blacktop. College president ordered the performing arts center there instead.

Administrators got jobs for relatives with project contractors, including a trustee's niece and nephew; the son of one President; the wife of another; and a Vice-President's son.

The citizens oversight committee failed to file annual reports required by law – for 8 consecutive years!

The 2011 State Controller's audit found "project lists were crafted [so] virtually any expenditure could be … on the list to circumvent control and accountability."

Yet on July 20, 2016, Board president Scott Svonkin announced that the Board was putting "the general need, not the specific lists" before voters. The "Project List" will come later

There they go again.

Measure CC won't make them responsible—just fund their irresponsibility.

Vote NO on Measure CC! Stop the 30-year Property Tax Increase!

www.FlunkMeasureCC.org

G. RICK MARSHALL
Chief Financial Officer, California Taxpayers Action Network

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Argument Against Measure CC

PR-004906-9 LA 310-069

ARGUMENT AGAINST MEASURE CC

In the last 15 years, almost $6 billion in bonds have been approved for the Los Angeles Community College District. Prop A authorized $1.245 billion, in 2001. Prop AA authorized $980 million in 2003. Measure J authorized $3.5 billion in 2008.

Bonds are like government credit cards. They are sold to Wall Street investors and paid back over 30 years, with interest. If Measure CC passes, your property taxes will go up to pay the bill.

In all three prior measures, we were promised oversight. But in 2011, an exposé by the Los Angeles Times and an audit by the State Controller found tens of millions in wasteful spending and shoddy construction with the bond money. They uncovered nepotism in contract awards and hiring, massive mismanagement, incomplete records, and poor to nonexistent oversight.

Now they want another $3.3 billion. This time, they promise the money will be spent properly. Will it?

The "Project List" for Measure CC is generic "pie in the sky." There's no guarantee any particular thing will be done at any particular location. Without specifics there's no accountability!

Here's some of what they did list: "[repair] deteriorating gas, water and sewer lines", "remove lead paint and asbestos" and "renovate student and staff restrooms."

Fifteen years ago, Prop A promised to "modernize and/or construct new restrooms campus-wide." Instead, it started a $6 billion spending spree renovating and constructing new buildings. Why didn't they repair vital utility lines or remove dangerous lead paint and asbestos with that money?

Stop the cheating of both students and taxpayers. Demand a prioritized Project List. Insist on guarantees of specific projects at specific sites with reasonable budgets. Enforce real value and accountability.

Vote NO on Measure CC.

California Taxpayers Action Network is a nonpartisan, all volunteer, nonprofit organization fighting to stop wasteful government spending.

www.caltan.org

G. RICK MARSHALL
Chief Financial Officer,
California Taxpayers Action Network

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Rebuttal to Argument Against Measure CC

PR-004906-10 LA 310-070

REBUTTAL TO ARGUMENT AGAINST MEASURE CC

Vote Yes on Measure CC

The Los Angeles Community College District is now involved in a building program to transform its nine college campuses into state-of-the-art educational institutions that can meet the future needs of a diverse student body studying at the largest college district in the nation.

This program has already resulted in the construction of dozens of science and math laboratories, libraries and classrooms where students are trained to take their place in local, good-paying jobs as nurses, computer programmers and firefighters. But more work is needed to finish upgrading our local community college campuses so our 21st century students can go to classrooms equipped to deliver a 21st century education.

Let's not drop the ball now when we're so close to the goal line.

Support Measure CC on the November ballot.

LACCD is governed by an elected Board of Trustees, a chancellor and by new policies strongly committed to protecting the taxpayers' investment in the district's building program. The most recent report of an independent citizens' oversight panel found that the district's current bond-funded building program was proceeding smoothly.

In 2014, Standard & Poor's upgraded the district's bond rating from AA to AA+. S&P analysts said the ratings upgrade was warranted because of the district's sound financial performance. LACCD's record of fiscal responsibility is one reason why Measure CC has the confidence and endorsement of so many civic and business leaders.

Let's approve Measure CC and invest in our students and in Los Angeles' future.

GARY TOEBBEN
President & CEO Los Angeles Area Chamber of Commerce

ANTONIO SANCHEZ
Member, Community College Oversight Committee

DR. FRANCISCO C. RODRIGUEZ
Chancellor, Los Angeles Community College District

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Full Text of Measure CC

PR-004896-8 LA 310-060

FULL TEXT OF BALLOT MEASURE CC

"LOS ANGELES COMMUNITY COLLEGE DISTRICT AFFORDABLE EDUCATION/JOB TRAINING/CLASSROOM SAFETY MEASURE. To repair local community colleges/prepare students/ for jobs/university transfer by upgrading vocational/career education for veterans, firefighters, paramedics, nurses/police, removing lead paint/asbestos, upgrading campus safety/security systems, technology, handicapped accessibility/earthquake safety, repairing deteriorating gas, water/sewer lines, acquiring, constructing, repairing facilities, sites/equipment, shall Los Angeles Community College District issue $3,300,000,000 in bonds at legal rates, requiring independent audits, citizen oversight, all funds used locally?"

Bonds -Yes Bonds -No

PROJECTS

The Board of Trustees of the Los Angeles Community College District, to be responsive to the needs of its community, evaluated the urgent and critical facility needs at each of its nine local community colleges, and its capacity to provide students, active military, and Veterans with support and job training facilities, an affordable education and prepare them for success in college and careers. Job training facilities, safety issues, class size and offerings, and information and computer technology were each considered in developing the scope of projects to be funded. In developing the scope of projects, preparing students for good-paying jobs, basic repairs, campus safety, facilities supporting Veterans, and the expansion of opportunities for local students to receive an affordable, quality education, were prioritized. If these facility needs are not addressed now, the District's Colleges would be unable to remain competitive in preparing students for jobs in high demand industries and university transfer. The Board of Trustees determines that each of its nine colleges MUST:

  1. (i) Prepare students for good-paying jobs;
  2. (ii) Improve educational resources for Veterans;
  3. (iii) Provide local students with an affordable, low-cost, high-quality education;
  4. (iv) Make basic and essential repairs, such as repairing deteriorating gas, water and sewer lines, replace outdated electrical wiring and remove lead paint and asbestos;
  5. (v) Adhere to stringent FISCAL ACCOUNTABILITY safeguards including:
    1. (a) All expenditures will be subject to annual independent financial audits,
    2. (b) No funds will be used for administrator's salaries and pensions,
    3. (c) All funds must be spent locally.

(Continued on next page)
PR-004906-1 LA 310-061
FULL TEXT OF BALLOT MEASURE CC (Continued)

The following are authorized to be undertaken at each of its nine colleges and at other District sites:

PROVIDING AN AFFORDABLE EDUCATION
FOR LOCAL RESIDENTS AND VETERANS:

Basic Repair Projects

Goals and Purposes: The cost to attend California's public universities has risen to at least six times that of attending a community college. As a result, more local students and their families rely on their local community college to save tens of thousands of dollars. This measure will increase opportunities for local students to earn college credits, certifications, and learn job skills at a reasonable price and transfer to four-year colleges and universities.

Many of the buildings, classrooms, science labs, and job training equipment at Los Angeles community colleges are deteriorating and outdated – about a third were built more than 40 years ago. This measure will address urgent and basic repairs such as removing asbestos and lead paint, upgrading electrical wiring, gas and sewer lines, , and improving earthquake safety to make our local colleges clean and safe for learning.

  • Replace outdated electrical wiring.
  • Remove asbestos and lead paint.

  • Repair deteriorating gas, water and sewer lines.
  • Improve water conservation.
  • Improve disabled access.
  • Improve earthquake safety.
  • Upgrade door safety locks, security cameras, emergency notifications systems, and lighting for student safety.
  • Improve campus safety by upgrading existing fire alarms, sprinklers, intercoms, and fire doors.
  • Repair aging water pipes and drinking fountains to ensure safe drinking water.

PROVIDING JOB TRAINING AND COLLEGE TRANSFER:

Facility Improvements
To Help Students and Veterans Transfer to Four-Year
Universities or be Trained For High Demand Jobs

(Continued on next page)
PR-004906-2 LA 310-062
FULL TEXT OF BALLOT MEASURE CC (Continued)

Goals and Purposes: Our local community colleges serve over 5,000 military veterans, many of whom have recently returned from war zones and face challenges including post-traumatic stress disorder and permanent disability.

Our local community colleges provide essential job training, successfully preparing students to become part of our local workforce. This measure will upgrade classrooms, facilities and technology, to expand access to training programs that help students learn new skills and find better paying jobs in manufacturing, biotechnology, nursing, engineering, and other high demand careers.

Our local community colleges provide excellent training that prepares students to transfer to the University of California and the California State University system to complete their Bachelor's degrees. Our local colleges also allow high school students to get a jump start on earning college credit by taking college courses before they graduate high school. This measure will ensure that these colleges can continue to offer this caliber of education while saving families money in the first few years of tuition.

  • Repair classrooms to prepare students, veterans and workers for good-paying jobs and 21st century careers.
  • Upgrade classrooms and labs for science, technology, and engineering fields.

Improve classrooms for nursing, health IT, biotech, and other technical vocational career education programs.

  • Provide facilities to prepare students to transfer to four-year colleges and universities.

Improve educational resources for veterans.

  • Improve vocational classrooms and labs for nursing, dental, and emergency medical programs.
  • Improve public safety academy to train police officers, firefighters and emergency medical technicians.

The listed projects will be completed . is assumed to include its share of furniture, equipment, architectural, engineering, and similar planning costs, program/project management, , a customary contingency, and costs associated with the Total Cost of Ownership of facilities and equipment. In addition to the listed projects stated (Continued on next page)
PR-004906-3 LA 310-063
FULL TEXT OF BALLOT MEASURE CC (Continued)
above, authorized projects also include the acquisition of a variety of instructional, maintenance and operational equipment, including interim funding incurred to advance fund projects from , environmental studies (including environmental investigation, remediation and monitoring), design and construction documentation, and temporary housing of dislocated college activities caused by construction projects, as well as the completion of projects authorized under the District's Measure J, approved by voters on November 4, 2008. In addition to the projects listed above, repair, renovation and construction projects include the following: renovate student and staff restrooms; replace aging electrical and plumbing systems; repair and replace heating, ventilation and air conditioning systems; acquire vehicles; upgrade of facilities for energy efficiencies, including photovoltaic/solar installations; repair and replace worn-out and leaky roofs, windows, walls doors and drinking fountains; replace or remove outdated buildings and classrooms and construct new classrooms and support buildings; install wiring and electrical systems to safely accommodate computers, technology and other electrical devices and needs; upgrade facilities to meet current environmental sustainability and State compliance standards; repair and replace fire alarms, emergency communications and security systems; upgrade, resurface, replacing or relocate hard courts, fields, turf and irrigation systems; install artificial turf on athletic fields; upgrade classrooms; build or upgrade facilities, including science and engineering classrooms; construct, expand or reconfigure facilities to create large lecture classrooms; improve parking, construct parking structures and upgrade, resurface and recondition existing parking lots; improve vehicular access and traffic circulation; improve drop-off zones; repair, upgrade and install interior and exterior lighting systems; replace water lines and valves, sewer lines and other plumbing systems; construct, upgrade, acquire or expand multi-use classrooms and labs, manufacturing and transportation training, fine and theater arts and visual and performing arts facilities, learning resources centers, physical education/aquatic facilities, gyms, , locker rooms, field lights, field houses, tennis courts, bleachers, press boxes, tracks, District administrative offices, conference center, physical plants/maintenance buildings, student service/campus centers, data centers, technology buildings, kitchens, cafeterias/food services and classroom and instructional buildings, trades and technology buildings, libraries, athletic fields, student services buildings, central plants; improve water conservation and energy efficiency; acquire land; replace or upgrade outdated security and safety 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; (Continued on next page)
PR-004906-4 LA 310-064
FULL TEXT OF BALLOT MEASURE CC (Continued)
replace broken concrete walks, deteriorated asphalt; replace/upgrade existing signage, bells and clocks; demolition of unsafe facilities; install shade structures, pedestrian malls, new security systems, such as security (surveillance) cameras, burglar alarms, handrails, outdoor lighting, fencing, gates and classroom door locks; replace sewer and hydronic 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. and the demolition of older building at each of the Colleges. The upgrading of technology infrastructure includes, but is not limited to, upgrading classroom technology, expanding wireless internet access throughout both college campuses, acquiring computers, portable interface devices, servers, switches, routers, modules, sound projection systems, information systems, printers, digital white boards, upgrade voice-over-IP, communication systems, audio/visual and telecommunications systems, call manager and network security/firewall, Internet connectivity, wireless systems, technology infrastructure, and other miscellaneous IT and instructional equipment, DATA storage, fiber/copper infrastructure, phones, and identity access cards.

The allocation of bond proceeds may be affected by the final costs of each project. Some projects 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.

(Continued on next page)
PR-004906-5 LA 310-065
FULL TEXT OF BALLOT MEASURE CC (Continued)

FISCAL ACCOUNTABILITY

This bond measure has strict accountability requirements including:

1. All money will benefit the nine local community colleges and CANNOT BE TAKEN BY THE STATE.

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

3. Require CITIZENS' OVERSIGHT and yearly audits to ensure all funds are used locally, effectively and as promised.

4. NO ADMINISTRATOR 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.

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Measure CC Tax Rate Statement

PR-004906-11 LA 310-071

TAX RATE STATEMENT -MEASURE CC

An election will be held in the Los Angeles Community College District (the "District") on November 8, 2016, for the purpose of submitting to the electors of the District the question of incurring a bonded indebterdness of the District in a principal amount of $3,300,000,000. If such bonds are authorized and sold, the principal thereof and interest thereon will be payable from the proceeds of tax levies made upon the taxable property in the District. The following information regarding tax rates is provided to comply with Section 9401 of the Election 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 assessed valuations of taxable property in the District, and assuming the entire debt service, including principal and interest on the bonds, will be paid through property taxation:

1. The best estimate from official sources of the tax rate which would be required to be levied to fund the bonds issue during the first fiscal year after the first sale of bonds, and an estimate of the year in which that tax rate will apply is $0.0150 per $100, or $15.00 per $100,000 of assessed valuation of all property to be taxed in fiscal year 2017-2018.

2. The best estimate from official sources of the tax rate which would be required to be levied to fund the bonds issue during the first fiscal year after the last sale of bonds and an estimate of the year in which that rate will apply is $0.0150 per $100, or $15.00 per $100,000 of assessed valuation of all property to be taxed in 2026-2027.

3. The best estimate from official sources of the highest tax rate which would be required to be levied to fund the bond issue and an estimate of the year in which that rate will apply is $0.0150 per $100 or $15.00 per $100,000 of assessed valuation of all property to be taxed in fiscal year 2017-2018.

4. The best estimate from official sources of the total debt service, including principal and interest which would be required to be repaid by tax rates levied on taxable property, if all the bonds are issued, sold and paid as projected would be $5,520,035,813.

The attention of all voters is directed to the fact that the foregoing information is based upon projections and estimates only. 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 the market interest rates at the time of the sales, and the actual assessed valuations over the term of repayment of the bonds. The date of sale and the amount of bonds sold any given time will be determined by the District based on its need for construction funding as well as other factors. The actual interest (Continued on next page)
PR-004906-12 LA 310-072
TAX RATE STATEMENT - MEASURE CC (Continued)
rates at which the bonds will be sold will depend on bond market conditions at the time of sale. Actual assessed valuations at future dates will depend upon the amount and value of taxable property within the District as determined by the County Assessor in the County of Los Angeles in the annual assessment and the equalization process. Accordingly, the actual tax rate and the years in which such rates are applicable may vary from those presently estimated above.

Dated: August 10, 2016

FRANCISCO C. RODRIGUEZ, Ph.D.
Chancellor
Los Angeles Community College District

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