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

Commentary on Measure I

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    Argument Against    Full Text    Tax Rate  

Measure I Question

NEIGHBORHOOD SCHOOL REPAIR, CAREER EDUCATION, SAFETY IMPROVEMENT MEASURE. To repair/ upgrade schools that prepare students for college/ careers; upgrade classrooms/ labs for job training/ college preparation; improve school security/ technology, electrical/ wiring air conditioning, emergency alarms, earthquake safety, disabled access, aging gymnasiums/ athletic fields and tracks; , water pipes; remove lead paint/ ; shall Paramount Unified School District issue 106 million dollars in bonds at legal rates, with independent audits, citizens’ oversight, all funds used locally?

Bonds - Yes Bonds - No

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

Impartial Analysis for Measure I

PR-004943-8 LA 515-070

IMPARTIAL ANALYSIS OF MEASURE I

By Mary C. Wickham, County Counsel

Approval of Measure I ("Measure") would authorize the Board of Education ("Board") of the Paramount Unified School District ("District"), which placed the Measure on the ballot by Resolution No. 16-07, to issue general obligation bonds in an amount not to exceed $106,000,000.

Proceeds from the sale of the bonds authorized by the Measure shall be used only for projects at the schools identified in the bond project list. Projects include, but are not limited to, acquiring, replacing, upgrading, and/or installing student safety and security systems; renovating, replacing, and/or upgrading portable classrooms and restrooms; renovating, repairing, and/or expanding roads, sidewalks, driveways, and parking lots; upgrading sites/grounds and facilities to comply with the Americans with Disabilities Act; renovating and/or repairing playgrounds, play fields, landscaping, and other hard surfaces; acquiring, installing, and upgrading technology equipment, fixtures, and infrastructure; replacing, upgrading, and installing electrical and data systems, equipment, power sources, supplies, and related technology infrastructure; constructing and/or renovating classroom, labs, and related support facilities for career technical education; renovating, replacing, and/or expanding portable and permanent classrooms, classroom buildings, labs, and support facilities; replacing heating, ventilation, air-conditioning, and lighting systems; furnishing and equipping career technical education and other facilities; renovating and expanding athletic fields, track, and gym facilities; acquiring real property for the construction of new facilities; planning, designing, and providing temporary housing for listed bond projects; and removing or abating asbestos, lead, and other hazardous materials. Bond proceeds may not be expended on teacher and administrator salaries 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 Board shall create an account into which bond proceeds shall be deposited.

(Continued on next page)
PR-004943-9 LA 515-071
IMPARTIAL ANALYSIS OF MEASURE I (Continued)

The maximum rate of interest on any bond shall not exceed the maximum rate allowed by law. No bond shall have a maturity exceeding the maximum number of years 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 estimated assessed valuations available when the District filed its Tax Rate Statement, is $59 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 I does not guarantee that the proposed project or projects in the Paramount Unified School District that are the subject of bonds under Measure I will be funded beyond the local revenues generated by Measure I. 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    Argument Against    Full Text    Tax Rate  

Argument in Favor of Measure I

PR-004943-10 LA 515-072

ARGUMENT IN FAVOR OF MEASURE I

Our children need your help! Our neighborhood schools were built more than 50 years ago and need basic health and safety repairs.

Vote Yes on I to fix local schools, keep children safe, and prepare them for success!

Yes on I benefits all local schools that serve Bellflower, Lakewood, Long Beach, Paramount, and South Gate.

Yes on I prepares students for college and careers by upgrading local classrooms and labs, providing a strong basis for college and helping students compete for 21st century jobs.

Yes on I upgrades vocational and career education programs. Students who choose not to attend college need opportunities too! Yes on I helps prepare students for good-paying jobs once they graduate!

Yes on I attracts and retains qualified teachers for our local schools, improving the quality of education for all students.

Yes on I makes our students and schools safer by upgrading school security, including upgrading emergency communication systems, installing cameras and alarms, and improving emergency lighting and fencing. Vote Yes on I for safer schools!

Yes on I provides basic repairs for aging, outdated, and deteriorating local schools by:

Repairing water pipes & drinking fountains
Removing asbestos & lead paint
Repairing deteriorating roofs
Upgrading outdated electrical wiring/systems
Upgrading fire doors, sprinklers & smoke alarms
Improving earthquake safety
Providing every classroom with up-to-date computer technology
Improving water conservation

By law, Measure I requires published annual independent financial audits and oversight by an independent citizens' oversight committee to ensure that all funds are spent locally and as promised. No money can be spent on administrators' salaries.

(Continued on next page)
PR-004943-11 LA 515-073
ARGUMENT IN FAVOR OF MEASURE I (Continued)

Join classroom teachers, parents, PTA/civic leaders, business, and public safety leaders in voting YES on I!

PATRICIA REAL
Paramount USD Teacher of the Year

JASON JOHNSON
PTA Council President

ANTHONY RENDON
Speaker of the Assembly, 63rd District

JON T. TANKLAGE
President, Marukan Vinegar USA, Inc.

TONY PEΡA
President, Board of Education PUSD

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

Argument Against Measure I

NO ARGUMENT AGAINST THIS MEASURE WAS SUBMITTED

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

Full Text of Measure I

PR-004896-8 LA 515-062

FULL TEXT OF BALLOT MEASURE I

PARAMOUNT UNIFIED SCHOOL DISTRICT
NEIGHBORHOOD SCHOOL REPAIR, CAREER EDUCATION, SAFETY
IMPROVEMENT MEASURE

This Proposition may be known and referred to as the "Paramount Unified School District Neighborhood School Repair, Career Education, Safety Improvement Measure" or as "Measure I".

KEY FINDINGS

  • – Paramount Unified School District (the "District") is committed to safe schools with upgraded classrooms, libraries, science, technology, engineering and mathematics (STEM) labs and learning environments needed to support career technical education and 21st-century instruction; and
  • – The District has conducted a thorough assessment of its school facility needs and received input from teachers, staff and the community and evaluated the District's urgent and critical school facility needs, including safety issues, career technical education facility requirements, computer and classroom instructional technology needs, class size reduction objectives, and prepared a needs assessment in developing the scope of facility projects to be funded; and
  • – The District believes that improving school facilities will improve the high quality of education for each student in every classroom; and
  • – The District desires to improve student safety and security and reduce risks from earthquakes and fires by upgrading school security communication systems, fire alarms, and sprinklers, and retrofitting buildings, as required; and
  • – The District believes that updating instructional technology will equip our students with skills and solid background in science, math and technology needed to succeed in high school, college and careers; and
  • – With many aging facilities, the District desires to remove hazardous materials like asbestos from older school campuses; and
  • – This measure will benefit local schools and no funds can be taken away by the State or other school districts, and by law, no money can be used for administrator salaries; and
  • – This bond requires strict fiscal accountability protections including mandatory annual audits and an independent citizens' oversight committee made up of local residents to ensure funds are managed and spent properly; and

BOND AUTHORIZATION

By approval of this proposition by at least 55% of the registered voters voting on the proposition, the Paramount Unified School District (the "District") shall be (Continued on next page)
PR-004943-1 LA 515-063
FULL TEXT OF BALLOT MEASURE I (Continued)
authorized to issue and sell bonds of up to $106,000,000 in aggregate principal amount to provide financing for the specific school facilities projects listed under the heading entitled "BOND PROJECT LIST" below (the "Bond Project List"), and qualify to receive State of California matching grant funds, subject to all of the accountability safeguards specified below.

ACCOUNTABILITY SAFEGUARDS

The provisions in this section are specifically included in this proposition in order that the voters and taxpayers of the District may be assured that their money will be spent to address specific facilities needs of the District, all in compliance with the requirements of Article XIIIA, Section 1(b)(3) of the California Constitution, and the Strict Accountability in Local School Construction Bonds Act of 2000 (codified at Sections 15264 and following of the California Education Code (the "Education Code")).

Evaluation of Needs. The Board of Education of the District (the "Board") has prepared an updated School Facilities Needs Assessment Analysis in order to evaluate and address all of the facilities needs of the District at each campus and facility, and to determine which projects to finance from a local bond at this time. The Board hereby certifies that it has evaluated safety, student career and college preparation standards, facility and classroom information technology needs, and class size reduction objectives in developing the Bond Project List.

Limitations on Use of Bonds. Proceeds from the sale of bonds authorized by this proposition shall be used only for the construction, reconstruction, rehabilitation, or replacement of school facilities, including the furnishing and equipping of school facilities, or the acquisition or lease of real property for school facilities, including, to the extent permitted by law, the acquisition or lease of real property in connection with an existing or future financing of the specific school facilities projects listed in the Bond Project List, including the , and not for any other purpose, including teacher and administrator salaries and other school operating expenses.

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 for the school facilities projects listed in the Bond Project List. The committee shall be established within 60 days of the date when the results of the election appear in the minutes of the Board. In accordance with Section 15282 of the Education Code, the citizens' oversight committee shall consist of at least seven members and shall include a member active in a business organization representing the business community located within the District, a member active in a (Continued on next page)
PR-004943-2 LA 515-064
FULL TEXT OF BALLOT MEASURE I (Continued)
senior citizens' organization, a member active in a bona fide taxpayers' organization, a member that is a parent or guardian of a child enrolled in the District, and a member that is both a parent or guardian of a child enrolled in the District and active in a parent-teacher organization. No employee or official of the District and no vendor, contractor or consultant of the District shall be appointed to the citizens' oversight committee.

Annual Performance Audits. The Board shall conduct an annual, independent performance audit to ensure that the bond proceeds have been expended only on the school facilities projects listed in the Bond Project List. These audits shall be conducted in accordance with the Government Auditing Standards issued by the Comptroller General of the United States for performance audits. The results of these audits shall be made publicly available and shall be submitted to the citizens' oversight committee in accordance with Section 15286 of the Education Code.

Annual 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 the Bond Project List. These audits shall be conducted in accordance with the Government Auditing Standards issued by the Comptroller General of the United States for financial audits. The results of these audits shall be made publicly available and shall be submitted to the citizens' oversight committee in accordance with Section 15286 of the Education Code.

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 no later than January 1 of each year, commencing January 1, 2018, stating (a) the amount of bond proceeds received and expended in that year, and (b) 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 of the District shall determine, and may be incorporated into the annual budget, audit, or other appropriate routine report to the Board.

FURTHER SPECIFICATIONS

Joint-Use Projects. The District may enter into agreements with other public agencies or nonprofit organizations for joint use of school facilities financed with the proceeds of the bonds in accordance with Education Code Section 17077.42 (or any successor provision). The District may seek State grant funds for eligible joint-use projects as permitted by law, and this proposition hereby specifies

(Continued on next page)
PR-004943-3 LA 515-065
FULL TEXT OF BALLOT MEASURE I (Continued)

and acknowledges that bond funds will or may be used to fund all or a portion of the local share for any eligible joint-use projects identified in the Bond Project List or as otherwise permitted by California State regulations, as the Board shall determine.

Single Purpose. All of the purposes enumerated in this proposition shall be united and voted upon as one single proposition, pursuant to Education Code Section 15100, and all the enumerated purposes shall constitute the specific single purpose of the bonds, and proceeds of the bonds shall be spent only for such purpose, pursuant to California Government Code Section 53410.

Bonds may be Issued in Excess of Statutory Bonding Limit. Issuance of all of the authorized bonds might require the outstanding debt of the District to exceed its statutory bonding limit of 2.50% of the total assessed valuation of taxable property in the District. In that event, the District intends to seek a waiver of its bonding limit from the State Board of Education, which has the power to waive certain requirements of the Education Code applicable to the District. By approval of this proposition, the voters have authorized the District to seek such a waiver, and to issue authorized bonds in excess of the 2.50% limit as the State Board of Education may approve. No such waiver has yet been sought or granted.

Other Terms of the Bonds. When sold, the bonds shall bear interest at an annual rate not exceeding the statutory maximum, and that interest shall be made payable at the time or times permitted by law. The bonds may be issued and sold in several series, and no bond shall be made to mature more than the statutory maximum number of years from the date borne by that bond.

BOND PROJECT LIST

The Bond Project List below lists the specific projects the District proposes to finance with proceeds of the bonds. The Bond Project List shall be considered a part of the bond proposition and shall be reproduced in any official document required to contain the full statement of the bond proposition. Listed projects will be completed at a particular school or facility site according to Board-established priorities, and the order in which such projects appear on the Bond Project List is not an indication of priority for funding or completion. Any authorized repairs shall be capital expenditures. The Bond Project List does not authorize non-capital expenditures. is assumed to include its share of costs of the election and bond issuance, construction-related costs, such as project and construction management, architectural, engineering, inspection and similar planning and testing costs, demolition and interim housing costs, legal, accounting and similar fees, costs related to the independent annual financial and performance audits, a contingency for unforeseen design and construction (Continued on next page)
PR-004943-4 LA 515-066
FULL TEXT OF BALLOT MEASURE I (Continued)
costs, and other costs incidental to and necessary for completion of the listed projects (whether the related work is performed by the District or third parties). The final cost of each project will be determined as plans are finalized, construction bids are awarded, and projects are completed. In addition, certain construction funds expected from non-bond sources, including State of California grant funds for eligible projects, have not yet been secured. Therefore, the Board cannot guarantee that the bonds will provide sufficient funds to allow completion of all listed projects. Alternatively, if the District obtains unexpected funds from non-bond sources with respect to listed projects, such projects may be enhanced, supplemented or expanded to the extent of such funds. Some projects may be subject to further government approvals, including by State officials and boards and/or local environmental or agency approval. Inclusion of a project on the Bond Project List is not a guarantee that the project will be completed (regardless of whether bond funds are available).

The specific projects authorized to be financed with proceeds of the bonds under this proposition are as follows:

NEIGHBORHOOD SCHOOL REPAIR, CAREER EDUCATION, SAFETY IMPROVEMENT MEASURE PROJECTS

The following projects are authorized to be financed at the schools listed below.

  • – Collins Elementary School
  • – Gaines Elementary School
  • – Jefferson Elementary School
  • – Keppel Elementary School
  • – Lincoln Elementary School
  • – Los Cerritos Elementary School
  • – Mokler Elementary School
  • – Roosevelt Elementary School
  • – Tanner Elementary School
  • – Wirtz Elementary School
  • – Alondra Middle School
  • – Jackson Middle School
  • – Paramount Park Middle School
  • – Zamboni Middle School
  • – Paramount High School Senior Campus
  • – Paramount High School West Campus
  • – Buena Vista High School
  • – Hollydale K-8 School
  • – Alternative Education Center
  • – Paramount Community Day School
  • – Regional Occupational Program
  • – Paramount Adult School
  • – Paramount Preschool Programs
  • – District-Wide Facilities

(Continued on next page)
PR-004943-5 LA 515-067
FULL TEXT OF BALLOT MEASURE I (Continued)

Safety, Security and Health Projects

  • – Acquire, replace, upgrade and/or install student safety and security systems, including lighting, fencing, smoke detectors, fire alarms, sprinklers, security alarms, signage, safety locks and hardware, cameras and emergency communication systems.
  • – Renovate, rehabilitate, re-configure, replace and/or upgrade portable classrooms and restrooms, and furnish and equip the same.
  • – Renovate, replace and/or install drinking fountains.
  • – Reconfigure, renovate, repair, resurface, improve and/or expand roads, sidewalks, driveways, parking lots and related areas, and pick-up/drop-off areas.
  • – Upgrade/improve sites/grounds and facilities and acquire/install equipment and furniture, for students with disabilities and compliance with Americans with Disabilities Act.
  • – Renovate, repair, resurface, upgrade, expand, construct and/or install and improve paved and other hard surfaces, playgrounds, playfields and landscaping, and acquire, improve, replace and/or upgrade playground equipment and fixtures.

Improvements and Equipment to Support 21st Century Learning and District Classroom Instructional Technology 1:1 Program

  • – Acquire, install and upgrade technology equipment, fixtures and infrastructure, including interactive educational technology and projection systems, computers, tablets, laptops, printers, scanners, digital projectors and cameras, audio systems, video systems, phone and sound projections systems, peripherals, smart boards, education software, telecommunications software, security software, monitors, network equipment (including servers, network interface devices, network switches and routers, wireless network equipment, firewalls, network security equipment, racking, power and cooling equipment, wiring and uninterruptible power supplies), etc.,.
  • – Rehabilitate and replace such equipment, fixtures and infrastructure as needed in the future; technology equipment, fixtures and infrastructure includes existing technology equipment, fixtures and infrastructure as well as technology equipment, fixtures and infrastructure developed in the future.
  • (Continued on next page)
    PR-004943-6 LA 515-068
    FULL TEXT OF BALLOT MEASURE I (Continued)

    – Renovate, replace, upgrade, acquire, install and integrate electrical (including wiring and related infrastructure for modern technology) and data systems, equipment, power sources and supplies and related technology infrastructure.
    – Renovate, reconfigure and/or upgrade school facilities as needed to install or accommodate new technology and equipment.

Career Technical Education Facilities, School Building, Classroom and Support Facility Projects

    – Improve, upgrade, renovate, and/or construct and install classroom and lab facilities and related support facilities needed to support the career technical education requirements for student job training, career placement, and college preparation.

    – Renovate, rehabilitate, re-configure, replace, expand and/or upgrade portable and permanent classrooms, classroom buildings, labs and school support facilities, including interior and exterior doors, windows, door and window hardware, roofs, rain gutters and downspouts, walls, marker boards, ceilings and floors and finishes, paint, siding, insulation, casework, cabinets, carpets, drapes, window coverings, lighting, sinks, fixtures, signage, fencing, furniture and equipment.

    – Acquire and install and/or replace heating, ventilation and air conditioning and lighting systems.

    – Furnishing and equipping of career technical education facilities; furnishing and equipping shall include initial purchases, and scheduled and necessary replacements, technology upgrades and classroom modernization.

Other School Facility and District-Wide Projects

  • – Improve, update, renovate, and expand athletic fields, tracks, and gym facilities at the middle school campuses and other school sites as needed.
  • – Acquisition and improvement of real property and the construction of new school facilities needed to accommodate future increases in student enrollment and/or from reductions in the number students per classroom.
  • (Continued on next page)
    PR-004943-7 LA 515-069
    FULL TEXT OF BALLOT MEASURE I (Continued)

  • – Acquire and install and/or replace heating, ventilation and air conditioning and lighting systems.
  • – Planning, designing and providing temporary housing necessary for listed bond projects.
  • – The inspection, sampling and analysis of grounds, buildings and building materials to determine the presence of hazardous materials or substances, including asbestos, lead, etc., and the encapsulation, removal, disposal and other remediation or control of such hazardous materials and substances.
  • – The inspection and analysis of grounds, buildings and structures to assess health and safety risks to students, faculty, staff, parents and the public and compliance with local, state and federal building, health, safety, access and other related requirements, including seismic safety requirements, Field Act requirements and access requirements of the Americans with Disabilities Act (ADA), and the improvement, correction, repair or renovation of such grounds, buildings and structures or portions thereof identified as such health and safety risks or acquire, install and/or construct other improvements to comply with such laws and requirements.
  • – Necessary onsite and offsite preparation or restoration in connection with new construction, renovation or remodeling, or installation or removal of relocatable buildings, including demolition of structures; removing, replacing, or installing irrigation, drainage, utility lines (gas, water, sewer, electrical, data and voice, etc.), trees and landscaping; relocating fire access roads.
  • – Acquisition of all or a portion of any school site or facility, or an interest therein, or make lease payments with respect to any school site or facility, encumbered in order to finance or refinance the listed bond projects pursuant to a lease, certificate of participation or lease revenue bond financing.
  • – Address other unforeseen conditions revealed by construction, renovation or modernization (including plumbing or gas line breaks, dry rot, seismic and structural deficiencies, etc.).
  • – Furnishing and equipping of school facilities; furnishing and equipping shall include initial purchases, and scheduled and necessary replacements, upgrades and updating of technology.
  • – to the listed bond projects.

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

Measure I Tax Rate Statement

PR-004943-12 LA 515-074

TAX RATE STATEMENT -MEASURE I

An election will be held in the Paramount Unified School District (the "District") on November 8, 2016, to authorize the sale of up to $106,000,000 in bonds of the District to finance school facilities as described in the proposition. If the bonds are approved, the District expects to issue the Bonds in multiple 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 following information is provided in compliance with Sections 9400 through 9404 of the California Elections Code.

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 5.823 cents per $100 ($58.23 per $100,000) of assessed valuation in 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 estimated assessed valuations available at the time of filing of this statement, is 5.860 cents per $100 ($58.60 per $100,000) of assessed valuation in fiscal year 2026-27.

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 5.900 cents per $100 ($59.00 per $100,000) of assessed valuation, 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 of the bonds are issued and sold is $209,450,342.

Voters should note that 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, which could be more or less than the assessed 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. Certain taxpayers may also be eligible to postpone payment of taxes. Property owners should consult their own property tax bills and tax advisors 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, and the actual total debt service, may vary from those presently estimated, due to variations from these estimates in the timing of bond sales, the amount of bonds (Continued on next page)
PR-004943-13 LA 515-075
TAX RATE STATEMENT - MEASURE I (Continued)
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 need for construction funds and other factors, including the legal limitations on bonds approved by a 55% affirmative 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.

Dated: August 8, 2016.

RUTH PERΙZ
Superintendent
Paramount Unified School District

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