Montebello Unified School District Schools: Vote Yes on Measure GS Bonds - Los Angeles County - 2016 primary Election
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  Commentary    Question    Argument in Favor    Argument Against    Full Text    Tax Rate    Resolution  

Commentary on Measure GS

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

This campaign was designed by PJF Communications (or is it California Alliance Group LLC or one of the other firms that Hector Chacon is in bed with). 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.

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

Measure GS Question

EXHIBIT B

SHORT FORM OF BOND MEASURE

MONTEBELLO UNIFIED SCHOOL DISTRICT STUDENT SAFETY, CLASSROOM AND TECHNOLOGY IMPROVEMENT MEASURE. To repair/upgrade neighborhood schools and improve education for each student by: upgrading computer/science labs, libraries, career/vocational education programs; fixing leaky roofs, bathrooms, drinking fountains, plumbing, wiring, improving earthquake safety standards/fires safety/school security; and repairing/constructing/acquiring facilities, sites/equipment; shall Montebello Unified School District issue $300 million in bonds at legal rates, requiring audits, citizens' oversight, no money for administrators' salaries/pensions, and funds used locally?

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

Argument in Favor of Measure GS

<-- NO ARGUMENT IN FAVOR FILED. -->

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

Argument Against Measure GS

How many extra charges are already on your property tax bill? With interest? Lasting decades? Renters, do you really think your landlord won't raise your rent to cover these added costs? Google: California Policy Center: Voters Wary Borrowing Billions More for Educational Construction; Thanks a Billion Poway.

$98 million from 2004's Measure M plus $500 million from the State Proposition 1D is not enough. Now they want another $300 million! Where did it all go? Measure GS is three times bigger than Measure M. Can YOU REALLY afford another?

We all love school kids but think with your head and wallet—not your heart. This is snake oil crafted by an unscrupulous alliance of Wall Street bond sellers, financial advisors, school and bond attorneys, architects, construction contractors and other "consultants" who will profit at your expense. Google: Orange County Register's Bankers Push School Bonds C.A.S.H.

Look who's financing the Yes campaign. There's historical correlation between campaign contributors and who profits. Google: Local School Bonds Big Donors Win Big Contracts. Reject "PAY TO PLAY"! Google: Centinella school corruption.

The "Project List" for Measure GS is generic "pie in the sky". There's no guarantee any particular thing will be done at any particular location. No specifics equal no accountability!

Under Measure GS District can buy things—like iPads—that you'll pay for longer than they last. You wouldn't take a car loan lasting longer than the car. Why would you ever authorize District to buy short-lived items at your expense? Google: School bond iPads.

VOTE NO until District proposes a measure with a prioritized Project List; guaranteeing specific projects at specific sites with achievable budgets for each. There can't be real value or accountability without it. NO BLANK CHECKS!

www.caltan.org

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Full Text of Measure GS

EXHIBIT A

FULL TEXT BALLOT PROPOSITION
OF THE MONTEBELLO UNIFIED SCHOOL DISTRICT
BOND MEASURE ELECTION FOR JUNE 7,2016

MONTEBELLO UNIFIED SCHOOL DISTRICT STUDENT SAFETY, CLASSROOM AND TECHNOLOGY IMPROVEMENT MEASURE. To repair/upgrade neighborhood schools and improve education for each student by: upgrading computer/science labs, libraries, career/vocational education programs; fixing leaky roofs, bathrooms, drinking fountains, plubming, wiring; improving earthquake safety standards/fire safety/school security; and repairing/constructing/acquiring facilities, sites/equipment; shall Montebello Unified School District issue $300 million in bonds at legal rates, requiring audits, citizens' oversight, audits, no money for administrators' salaries/pensions, and funds used locally?

PROJECT LIST

The Board of Education of the Montebello Unified School District certifies that it has evaluated the District's urgent and critical capital needs, including school and student safety issues, enrollment trends, class size reduction, overcrowding, energy efficiency and computer technology, seismic safety requirements, and aging, outdated or deteriorating school buildings in developing the scope of projects to be funded. In developing the scope of projects, the District has prioritized the key health and safety and sustainability needs so that the most critical school site needs are addressed. The Board conducted an evaluation at all District sites and received input in developing the scope of projects to be funded. This input concluded that if these needs were not addressed now, the problems would only get worse and more expensive to address in the future. In approving this Project List, the Board of Education determines that the District should:

  1. (i) Provide additional classrooms to accommodate students, especially to upgrade career and technical education programs to prepare students for jobs in science, technology, engineering, arts and math.
  2. (ii) Upgrade classrooms and building accessways to comply with the Americans with Disabilities Act and State of California seismic standards.
  3. (iii) Provide more updated information and technology systems and equipment, including cable infrastructure, network expansion, wireless access points and other communications and administrative systems.
  4. (iv) Repair, improve and construct additional athletic facilities, including gyms and sports fields, to serve District students.
  5. (v) Make exterior and interior improvements to District facilities to conserve power, increase the efficiency of existing lighting, security and alarm features and conserve and/or reclaim water resources.
  6. (vi) Repair and improve existing and older buildings on District campuses.
  7. (vii) Qualify for millions of dollars of State matching funds.
  8. (viii) Adhere to specific FISCAL ACCOUNTABILITY safeguards such as these:
    1. (a) All expenditures will be subject to strict annual independent financial and performance audits.
    2. (b) No funds will be used for administrators' or teachers' salaries and pensions.
    3. (c) All funds will be subject to local control and provide improvements at all District facilities.
    4. (d) An independent citizens' oversight committee will be appointed to ensure that all funds are spent only as authorized.

The Project List includes the following types of projects:

Renovation, Repair and Upgrade Projects

  • Repair, upgrade and replace worn-out leaking roofs.
  • Replace existing wiring systems to meet current electrical and accessibility codes.
  • Add electrical service capacity to relieve currently overloaded electrical systems in older buildings.
  • Replace or upgrade existing water, sewer, plumbing and storm drain systems to conserve or reclaim water and meet current codes, including the elimination of lead-containing fixtures.
  • Upgrade aging and deteriorating restrooms, plumbing and drinking fountains.
  • Upgrade, repair and equip classrooms and science laboratories for project-based learning.
  • Upgrade facilities to comply with Federal and State-mandated Americans with Disabilities Act (ADA) handicap accessibility requirements.

Health, Safety and Security, Earthquake Safety
and Energy Efficiency Projects

Staff and Student Safety

  • Install new security systems, such as security (surveillance) cameras, indoor/outdoor lighting, walkways, signage, fencing and classroom door locks.
  • Remove or abate asbestos, lead paint, mold and other hazardous materials from older buildings.
  • A-2
    4841-3419-9852.1
  • Upgrade emergency communication systems.
  • Upgrade fire alarm systems, repair and replace fire safety equipment, add sprinklers and fire safety doors, as necessary.
  • Replace/upgrade existing signage, bells and clocks.
  • Upgrade and retrofit buildings to comply with Title 24 guidelines related to current seismic and structural standards.
  • Upgrade and repair student drop-off zones and parking lots.

Energy Efficiency/Water Conservation

  • Improve water conservation through water reclamation and installation of drought-resistant landscaping throughout all District properties.
  • Install energy-efficient systems, including solar panels, irrigation systems, heating, ventilation and cooling systems for cost savings and energy efficiency.
  • Replace existing window systems with energy-efficient systems.
  • Replace older ceilings, heating, ventilation, air conditioning and lighting systems with building code-compliant, energy-efficient systems.

District-Wide Wiring and Instructional Technology

  • Update computer labs.
  • Upgrade and expand: cable infrastructure, network, wireless systems, telecommunications and internet access.
  • Upgrade ,and replace computers, hardware and software systems supporting all District facilities.
  • Upgrade and replace classroom furniture, equipment and instructional aids.
  • Upgrade media and audio/visual equipment.

Listed building, repair and rehabilitation projects and upgrades will be completed as needed. Each project is assumed to include its share of furniture, equipment, architectural, engineering, and similar planning costs, program/construction management, and a customary contingency for unforeseen design and construction costs. In addition to the listed repair and construction projects stated above, the Project List also includes the acquisition of a variety of instructional, maintenance and operational equipment; the construction of new classrooms and other facilities, if necessary, to serve students; the acquisition of land; repairs and replacements of administrative support spaces; the payment of the costs of preparation of all facility planning, facility assessment reviews, facility master plan updates, environmental studies (including environmental investigation, remediation and monitoring) and construction documentation; and temporary housing of dislocated District activities caused by bond construction projects. The upgrading of technology infrastructure includes, but is not limited to: computers, projectors and projection systems; media control stations; portable interface devices; centralized storage and backup systems; uninterruptable power supplies; racks; servers; switches; routers; modules; sound systems; access control systems; printers; digital white boards; document projectors and cameras; upgraded voice-over IP; communications software and systems; collaborative systems; network management software; enterprise-wide software system replacement or upgrade; network security/firewall; wiring and cabling; and other miscellaneous equipment and software.

In addition to the projects listed above, the repair and renovation of each of the existing District facilities may include, but not be limited to, some or all of the following: renovation of student and staff restrooms; repair and replacement of heating, air conditioning and ventilation systems; upgrade of facilities for energy efficiency and to reduce fire risks; repair and replacement of worn-out and leaky roofs, windows, walls, doors and drinking fountains; demolition of unsafe facilities; installation of wiring and electrical systems to safely accommodate computers, technology and other electrical devices and needs; repairing and replacing fire alarms, emergency communications and security systems; resurfacing or replacing of hard courts, turf and irrigation systems and campus landscaping; building new and/or renovating existing athletic laboratories; upgrading or replacing inadequate libraries and administrative spaces; upgrading locker rooms; installing artificial turf and bleachers; improving sanitation and recycling; expanding parking; installing interior and exterior painting and floor covering; installing covered walkways; demolition; and construction of various forms of storage and support spaces; replacing water and sewer lines and other plumbing systems; and replacing outdated security systems.

The allocation of bond proceeds may be affected by the District's receipt of State matching finds 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 may undertake fewer than all of the projects listed above.

Necessary site preparation/restoration may occur in connection with new construction, renovation or remodeling, including ingress and egress, removing, replacing or installing irrigation, storm drain, and utility lines, trees and landscaping, relocating fire access roads, and acquiring any necessary easements, licenses, or rights of way to the property. Proceeds of the bonds may be used to pay or reimburse the District for the costs of District staffErrorCriticalWhat was that they said about no administrative payments? when performing work on or necessary and incidentalErrorCriticalWho do you think gets to decide? to bond projects. Bond proceeds shall only be expended for the specific purposes identified herein.

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 DISTRICT FACILITIES, INCLUDING THE FURNISHING AND EQUIPPING OF FACILITIES, AND NOT FOR ANY OTHER PURPOSE, INCLUDING TEACHER AND ADMINISTRATOR SALARIES OR PENSIONS OR OTHER OPERATING EXPENSES.

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 (EDUCATION CODE SECTION 15278 ET SEQ.) TO ENSURE THAT FUNDS ARE SPENT AS PROMISED AND SPECIFIED. THE CITIZENS' OVERSIGHT COMMITTEE MUST INCLUDE, AMONG OTHERS, REPRESENTATIVES 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 GS Tax Rate Statement

TAX RATE STATEMENT CONCERNING MEASURE -

TAX RATE STATEMENT
REGARDING PROPOSED
$300,000,000
MONTEBELLO UNIFIED SCHOOL DISTRICT
GENERAL OBLIGATION BONDS

An election will be held in Montebello Unified School District (the "District") on June 7, 2016, for the purpose of submitting to the electors of the District the question of issuing bonds of the District in the principal amount of $300 million. If such bonds are authorized and sold, the principal thereof and interest thereon will be payable from the proceeds of taxes levied on the taxable property in the District. The following information regarding tax rates is given to comply with Section 9401 of the California Elections Code. This 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 on the bonds will be paid through property taxation:

1. The best estimate from official sources of the tax rate that would be required to be levied to fund the bond issue during the first fiscal year after the first sale of the bonds, based on estimated assessed valuations available at the time of the filing of this statement, or on a projection based on experience within the District or other demonstrable factors, is $.00060 per $100 ($60.00 per $100,000) of assessed valuation of all property to be taxed in the year 20 17- 18.

2. The best estimate from official sources of the tax rate that would be required to be levied to fund the bond issue during the first fiscal year after the last sale of the bonds and an estimate of the year in which that rate will apply, based on estimated assessed valuations available at the time of the filing of this statement, or on a projection based on experience within the District or other demonstrable factors, is $.00060 per $100 ($60.00 per $1-00,000) of assessed valuation of all property to be taxed in the year 2044-45.

3. The best estimate from official sources of the highest tax rate that would be required to be levied to fund the bond issue and an estimate of the year in which that rate will apply, based on estimated assessed valuations available at the time of the filing of this statement, or on a projection based on experience within the District or other demonstrable factors, is $.00060 per $100 ($60.00 per $100,000) of assessed valuation of all property to be taxed in the year 20 17- 18.

The District estimates, based on current assumptions, that total debt service on the bonds if all are issued would be $564,770,375.

Attention of voters is directed to the fact that the foregoing information is based upon projections and estimates. The actual timing of sales of the bonds and the amount to be sold at any time will be governed by the needs of the District and other factors. The actual interest rates at which the bonds will be sold, which will not exceed the maximum permitted by law, will depend upon the bond market at the time of sale. The actual assessed valuations in future years will depend upon the value of property within the District as determined in the assessment and the equalization process. Therefore, the actual tax rates and the years in which those tax rates will be applicable may vary from those presently estimated and stated above.

Superintendent of Schools
Montebello Unified School District

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Measure GS Resolution

RESOLUTION NO. 17 (2015116)

RESOLUTION OF THE BOARD OF EDUCATION OF
MONTEBELLO UNIFIED SCHOOL DISTRICT
ORDERING AN ELECTION TO AUTHORIZE THE
ISSUANCE OF GENERAL OBLIGATION BONDS, ESTABLISHING SPECIFICATIONS
OF THE ELECTION ORDER, AND REQUESTING CONSOLIDATION
WITH OTHER ELECTIONS OCCURRING ON JUNE 7,2016

WHEREAS, the Montebello Unified School District (the "District") wishes to provide additional funding for the improvement, construction, equipping and furnishing of its facilities, to insure that District students have modem, safe and efficient classrooms, laboratories, athletic facilities and that they have access to technology necessary for them to compete for higher education; and

WHEREAS, in the judgment of the Board of Education of the District (the "Board), it is advisable to call an election to submit to the electors of the District the question of whether bonds of the District shall be issued and sold for the purpose of funding the construction, reconstruction, rehabilitation and replacement of District facilities, including the furnishing or equipping of District facilities, or the acquisition or lease of real property for District facilities and paying costs incident thereto; and

WHEREAS, pursuant to the provisions of Proposition 39, adopted by the voters of the State of California (the "State") on November 7, 2000 ("Proposition 39'7, comprising Article XIIIA, Section 1, paragraph (b) of the California Constitution ("Article XIIIA"), the District may incur bonded indebtedness upon the vote of fifty-five percent (55%) or more of the qualified electors of the District voting on the proposition; and

WHEREAS, pursuant to California Education Code ("Education Code") Section 15264 et seq. (the "Act"), the Board is specifically authorized, upon approval by two-thirds (213) of the members of the Board, to submit to the electorate of the District the question of whether bonds of the District shall be issued and sold for specified purposes pursuant to paragraph (3) of said subdivision (b) of Section 1 of Article XIIIA and subdivision (b) of Section 18 of Article XVI of the California Constitution; and

WHEREAS, the Board desires to make certain findings to be applicable to the within election order and to establish compliance with Proposition 39 and the applicable requirements of the Education Code and the Elections Code of the State (the "Elections Code"), as further specified herein; and

WHEREAS, pursuant to Section 10403 et seq. of the Elections Code, the Board now deems it appropriate and necessary to request consolidation of the election authorized hereby (the "Election") with any and all other elections to be held on June 7, 2016, and to request the Registrar of Voters (the "Registrar of Voters") of the County of Los Angeles (the "County") to perform certain election services for the District;

NOW, THEREFORE, THE BOARD OF EDUCATION OF MONTEBELLO UNIFIED

SCHOOL DISTRICT HEREBY RESOLVES, DETERMINES, AND ORDERS AS FOLLOWS:

Section 1. Call for Election. The Board hereby orders an election and submits to the electors of the District the question of whether general obligation bonds of the District shall be issued and sold in one or more series from time to time in the aggregate principal amount not to exceed $300,000,000 for the purpose of raising money for construction, reconstruction, - - rehabilitation and replacement of District facilities, including the furnishing or equipping of District facilities, or the acquisition or lease of real property for District facilities and paying costs incident thereto, as set forth more fully in a ballot proposition approved pursuant to Section 4 below.

Section 2. Order of Election. This Resolution shall stand as the order to the Registrar of Voters to call the Election within the boundaries of the District on June 7,2016. The Registrar of Voters is hereby requested, pursuant to Section 5322 of the Education Code, to take all steps to call and hold the Election in accordance with law and these specifications.

Section 3. Election Date and Consolidation. The date of the Election shall be June 7, 2016, and the Election shall be held solely within the boundaries of the District. Pursuant to Section 15 121 of the Education Code and Part 3 (commencing with Section 10400) of Division 10 of the Elections Code, the Board of Supervisors of the County is requested to order consolidation of the school bond election ordered herein with such other elections as may be held on the same day in the same territory, or in territory that is in part the same.

Section 4. Purpose of Election: Ballot Proposition. The purpose of the Election shall be for the voters of the District to vote on a proposition, a full copy of which is attached hereto as Exhibit A (the "Bond Measure"), containing the question of whether the District shall issue the Bonds for the purposes stated therein, together with the accountability requirements of Article XIIIA and the requirements of Section 15272 of the Act. The Registrar of Voters is hereby requested to reprint Exhibit A hereof in its entirety in the voter information pamphlet to be distributed to voters. As required by Elections Code Section 13247, the abbreviated form of the Bond Measure to appear on the ballot is attached hereto as Exhibit B. The District's Superintendent of Schools (or designee) is hereby authorized and directed to make any changes to the text of the proposition or its abbreviated form as required to comply with the intent of this Resolution, the requirements of election officials, and requirements of law.

Section 5. The Bonds. (i) The maturity of any bonds issued pursuant to the Bond Measure and under Chapter 1.5, Part 10, Division 1, Title 1 of the Education Code (commencing with Section 15264), as amended, and Article XIIIA shall not exceed twenty-five (25) years and shall bear or accrete interest at a rate not to exceed the maximum legal interest rate per annum, and (ii) the maturity of any bonds issued pursuant to the Bond Measure and under Article 4.5 of Chapter 3 of Part 1 of Division 2 of Title 5 of the California Government Code, as amended, applicable provisions of the Education Code and Article XIIIA of the California Constitution shall not exceed forty (40) years, or, in the case of bonds, the interest on which is compounded, twenty-five (25) years, and shall bear or accrete interest at a rate not to exceed the maximum legal interest rate per annum.

Section 6. Authority for Election. The authority for ordering the Election is contained in the Act, Article XIIIA, Section 1, paragraph (b), subsection (3) of the California Constitution, and Section 53506 et seq. of the California Government Code. The authority for the specification of this election order is contained in Education Code Section 5322.

Section 7. School Facilities Projects. A list of the specific capital projects (the "Projects") to be funded from the proceeds of the Bonds is set forth in Exhibit A (the "Project List"). As required by Article XIIIA, the Board hereby certifies that it has evaluated safety, class-size reduction and information technology needs of the District in developing the list of capital projects set forth in Exhibit A. The District understands that the costs of administering the Election, managing construction projects and costs of issuance of the Bonds shall be lawful charges against proceeds of sale of the Bonds.

Section 8. Covenants of the Board Upon Approval of the Bonds by the Electorate.

As required by Article XIIIA and Section 15278 of the Act, if fifty-five percent (55%) or more of the voters of the District voting on the Bond Measure approve the Bond Measure, the Board shall:

(a) Use the bond proceeds only for the purposes of construction, reconstruction, rehabilitation, or replacement of District facilities, including the furnishing and equipping of District facilities, or the acquisition or lease of real property for District facilities, as specifically set forth in Exhibit A, and not for any other purpose, including teacher and administrator salaries and other District operating expenses;
(b) Conduct an annual, independent performance audit to ensure that the Bond proceeds have been expended only on the capital projects listed in Exhibit A until all of the Bond proceeds have been expended;
(c) Conduct an annual, independent financial audit of the proceeds from the sale of the Bonds until all of those proceeds have been expended for capital projects listed in Exhibit A;
(d) Establish and appoint members to an independent citizens' oversight committee in accordance with Sections 15278, 15280, and 15282 of the Act; and
(e) Limit the amount of bonds issued pursuant to the Bond Measure so that the tax rate on taxable property located within the District required to repay such bonds will not, based on the District's reasonable expectations at the date of issuance, exceed $60 per $100,000 of assessed value.

Section 9. Delivery of this Resolution. The Clerk of this Board is hereby authorized and directed to send or hand-deliver a completed and certified copy of this Resolution to each of the Superintendent of Schools of the County, the Clerk of the Board of Supervisors of the County and the Registrar of Voters no later than March 11, 2016.

Section 10. Tax Rate Statement; Ballot Arguments. Any one of the Superintendent-President of the District, the President of the Board, or their designees, is hereby authorized to execute the Tax Rate Statement attached hereto as Exhibit C and any other required documents and to perform all acts necessary to place the Bond Measure on the ballot. The Tax Rate Statement shall be delivered to the Registrar of Voters on or before March 11, 2016. The President of the Board is hereby authorized to act as an author of or signer to any ballot argument prepared in connection with the Election, including a rebuttal argument.

Section 11. Consolidation of Election; Election Services. Pursuant to Section 5303 of the Education Code and Section 10002 of the Elections Code, the Board of Supervisors is requested to permit the Registrar of Voters, or other appropriate officials of the County, to render all services necessary in connection with the Election including, but not limited to, publication of a Formal Notice of School Bond Election pursuant to Education Code 5363 and related law, the mailing of the sample ballot and tax rate statement (described in Section 9401 of the Elections Code), the opportunity to submit ballot arguments in connection with the Election, the canvassing and certification of the returns of the Election, and other ballot requirements pursuant to Education Code Section 15123, for which services the District agrees to reimburse the County as required by law.

Section 12. Reimbursement of Qualified Project Expenditures. The Board presently intends and reasonably expects to have tax-exempt obligations (the "Obligations") issued on its behalf no later than 18 months of (i) the date of the expenditure of moneys, if any, made with respect to the Projects outlined in the Project List or (ii) the date upon which the Project for which expenditures are to be reimbursed is placed in service or abandoned, whichever is later (but in no event more than 3 years after the date the original expenditure of such moneys is paid), and to allocate an amount of the proceeds thereof not to exceed $2,000,000 to reimbursable expenditures in connection with the Projects, as may be qualified under the provisions of Section 1.150-2 of the Treasury Regulations of the Internal Revenue Service (the "Reimbursable Expenditures"). All of the Reimbursable Expenditures covered by this Section were paid not earlier than 60 days prior to the date of this Resolution or constitute preliminary expenditures within the meaning of Section 1.150-2 of the Treasury Regulations. The Board intends to allocate within 30 days after the date of issue of the Obligations, the proceeds therefrom to reimburse the District for the Reimbursable Expenditures. With respect to the proceeds of the Obligations allocated to reimburse the District for prior expenditures, the Board hereby covenants not to employ an abusive device under Treasury Regulation Section 1.148- 10, including using within one year of the reimbursement allocation, the funds corresponding to the proceeds of the Obligations in a manner that results in the creation of replacement proceeds, as defined in Treasury Regulation Section 1.148- 1, of the Obligations or another issue of tax-exempt obligations.

The above provisions are made solely for the purpose of establishing compliance with the requirements of said Section 1.1 50-2 of the Treasury Regulations. This provision does not bind the District or the Board to make any expenditure, incur any indebtedness, or proceed with the financing, acquisition or construction of the Projects.

Section 13. Bond Counsel. The Board hereby approves the retention of Nixon Peabody LLP as bond counsel in connection with the Election and subsequent issuances of bonds thereunder, pursuant to a contract to be entered into by the Superintendent.

Section 14. Effective Date. This Resolution shall take effect immediately upon its adoption.

PASSED AND ADOPTED by the Board of Education of the Montebello Unified School District at a regular meeting thereof held on the 3rd day of March, 2016, at Montebello, California, at which a quorum of the Board of Education was present and acting throughout, by the following vote.

AYES: MEMBERS: Benjamin Cardenas, Lani Cupchoy, Edgar Cisneros, Joanna Flores
NOES: MEMBERS: None
ABSENT: MEMBERS: Hector Chacon
ABSTAIN: MEMBERS: None

ATTEST:

Clerk of the Board of Education

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