West Covina Unified Schools: Vote Yes on Measure ES Bonds - Los Angeles County - 2016 General Election
Are you a good listener? Keep your ear to the ground and let us know. Sign Up                                        Do you have an oversight or transparency nightmare to report about your district? Let the whole world know! Oversight Report Card                                        
Sign In

Use Ctrl-- (ctrl minus sign) to reduce text size, or Crtl-+ (ctrl plus sign) to increase.


Why didn't West Covina Unified tell you specifically what it will do with the $143,000,000 in Measure ES?

We Could Really Use Your Help!

Real Grassroots Against Measure ES

Visit our web page.

Send us a message.

Give us a call (or send a text) 909-378-5401.

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

Commentary on Measure ES

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    Agenda  

Measure ES Question

West Covina Unified School District Repair/ Security Measure. To upgrade and modernize outdated classrooms, science labs/ career-training facilities to support 21st Century instruction and student achievement in math, science, engineering, arts and skilled trades, repair/ replace , plumbing, electrical systems/ portables, improve students/ campus safety, repair, acquire/ construct classrooms, sites, facilities, equipment/ technology, shall West Covina Unified School District issue $143,000,000 in bonds at legal rates, with , audits no money for administrator salaries, and all money staying local?

Bonds - Yes Bonds - No

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

Impartial Analysis for Measure ES

PR-004931-6 LA 260-067

IMPARTIAL ANALYSIS OF MEASURE ES

By Mary C. Wickham, County Counsel

Approval of Measure ES ("Measure") would authorize the Board of Education ("Board") of the West Covina Unified School District ("District"), which placed the Measure on the ballot by Resolution No. 17-01, to issue general obligation bonds in an amount not to exceed $143,000,000.

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, replacing portable classrooms; repairing or replacing roofs and plumbing, heating, ventilation, and electrical systems; providing facilities and technology for instruction in math, science, and technology; providing facilities and equipment for instruction in music and performing arts; repairing or replacing athletic facilities; improving campus security systems, including lighting, cameras, emergency communication systems, smoke detectors, fire alarms, and sprinklers; providing classrooms, labs, and equipment for career and technology education; creating modern, multi-use classrooms; keeping classroom technology up-to-date; improving pick-up and drop-off zones and parking lots to improve safety and traffic flow; and upgrading children's playground equipment and play areas to meet current health and safety standards. 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 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 15264 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 fund the bonds is $60 per $100,000, based on assessed valuations available at the time of the election and taking into account estimated future growth. The best estimate of the fiscal year in which the highest tax rate will apply is 2017-18, and thereafter.

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    Agenda  

Argument in Favor of Measure ES

PR-004931-7 LA 260-068

ARGUMENT IN FAVOR OF MEASURE ES

VOTE YES on Measure ES

We need your help. For over 100 years, West Covina School District has provided high-quality education to the children of our community. With schools approaching 60 plus years old, they require more than maintenance and repair. We must replace and upgrade facilities to keep our students healthy and safe while adding facilities to provide the education required in today's world.

Measure ES is the solution to make the critical improvements necessary to continue keeping students safe while updating schools to prepare them for success in not only college, but also future careers.

Yes on Measure ES will:

  • - Build new science labs, career, and technology classrooms to support high quality instruction in science, technology, engineering, and math.
  • - Replace deteriorating roofs, plumbing, sewer systems, wiring, and power to keep our facilities and classrooms safe and support the technology requirements to meet rising academic standards.
  • - Construct performing arts classrooms/facilities to provide our students with more educational opportunities.
  • - Update classrooms to meet 21st century education and graduation standards.
  • - Enhance campus safety and security for our students and staff.

Accountable to Taxpayers

Measure ES is fiscally sound. By law, funds STAY in the School District and the State CANNOT take them. Measure ES only funds projects itemized in the ballot measure. NO funds go for salaries or pensions. Independent Citizens' Oversight, mandatory audits, and public reports ensure proper spending of funds.

Protecting quality education is a smart investment for our community whether you have children in our schools or not. Outstanding public schools protect property values and keep our community STRONG.

Please join other residents in all West Covina neighborhoods, community and business leaders, parents, teachers, and staff in keeping safe, modern, and excellent schools in West Covina for years to come.

(Continued on next page)
PR-004931-8 LA 260-069
ARGUMENT IN FAVOR OF MEASURE ES (Continued)

VOTE YES on Measure ES.

CAMIE POULOS
School Board President/Foster Parent

EILEEN MIRANDA JIMENEZ
School Board Vice President/Parent

MICHAEL FLOWERS
School Board Clerk/Retired Postal Carrier

JESSICA C. SHEWMAKER
School Board Member/Paralegal

DANIEL C. MONARREZ
School Board Member/Public School Educator

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

Rebuttal to Argument in Favor of Measure ES

PR-004931-9 LA 260-070

REBUTTAL TO ARGUMENT IN FAVOR OF MEASURE ES

Measure ES is not fiscally sound, it's fiscally irresponsible.

The Measure ES School Bond is the most expensive way to fund school improvements. A vote for this bond is like maximizing your credit card debt and then paying off the balance by making minimum required monthly payments for the next 40 years. It's not fiscally sound.

Measure ES is a massive property tax increase. This $143,000,000 bond could cost the taxpayers as much as $300,000,000 over the life of the bonds. The district wants to pay for short term costs with long term financing. These upgrades will be obsolete long before the bond is paid off. Today's schoolchildren will pay for this bond long after their own children have graduated. That's not fiscally sound.

The School Board did not set their budget priorities appropriately. A child's health, safety and security should have been first priority, not administrative salaries and employee benefits. They have known for years that our schools need more than repairs and maintenance. Their failure to prioritize these costs is unforgivable.

The School Board wants to borrow money and increase your property taxes to pay for their irresponsible fiscal management. Your education dollars will be going to institutional investors and other wealthy people to be used as a tax shelter.

Homeowners will pay more taxes. Renters and small businesses will pay higher rent. Customers will pay higher prices. That's not fiscally sound.

Vote NO on Measure ES.

STEPHEN J. COX
CPA

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

Argument Against Measure ES

PR-004931-10 LA 260-071

ARGUMENT AGAINST MEASURE ES

The West Covina School Board wants you to approve the largest single tax increase in the history of the City of West Covina, a $143,000,000 school bond, the maximum tax increase allowed by law.

I oppose this outrageous and unnecessary tax increase on the property owners and taxpayers of West Covina.

The School Board must control its spending. They have to spend and save responsibly just like you do with your household finances. This free-wheeling spending has to stop. Send a message to our School Board…. NO NEW TAXES!!

Based on the District's audited financial statements and the District's income projections, using the State Local Control Funding Formula, the School District's average annual total General Fund revenue for 2014-2019 is expected to be over $100,000,000 -an annual increase of over $26,000,000 or 35% more than the 2008-2013 average total General Fund revenue. When this new State funding program is fully implemented from 2014-2024, West Covina USD's estimated aggregate increase in total General Fund revenue could be well over $250,000,000. But that's not enough for this School Board. Instead, they want the property owners and taxpayers to pay an additional $143 million. That is egregious, reprehensible and unacceptable. The School Board should use this additional $250 million in revenue for essential site improvements, science labs, technology upgrades, and improved security systems.

Don't be fooled by the School Board's taxpayer-funded propaganda claiming this $143 million tax is an investment in our schools that will only cost the "typical" homeowner $163 a year. Doesn't this sound just like one of those "to-good-to-be-true" late night cable TV infomercials?

The School Board Members promised to keep our children competitive by providing outstanding education opportunities in safe and secure facilities. They promised to spend our money wisely and responsibly, within their current budget.

Please VOTE NO on this tax increase and hold the School Board to their promises.

STEPHEN J. COX, CPA
Former Governing Board Member
West Covina Unified School District
1994-2014

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

Rebuttal to Argument Against Measure ES

PR-004931-11 LA 260-072

REBUTTAL TO ARGUMENT AGAINST MEASURE ES

VOTE YES on Measure ES – Excellent Schools – Exemplary Students!

The sole opponent of the health, safety, and education of our children presents DISTORTED information in an attempt to mislead you. Here are the facts:

The West Covina Unified School District Board is fiscally responsible and maintains an above average mandated savings reserve. This reserve was used to preserve classroom instruction in our District from 2008-2013 when other Districts were cutting programs and increasing class size.

It is SURPRISING and DISAPPOINTING that a former Governing Board Member would not be aware that the Local Control Funding Formula is required by law to dedicate additional funding to improve instructional services for targeted students. And, that recent State funding increases have helped to replace reduced State funding since 2008. The District's operating budget allows for little to be spent on repairs, major upgrades, and additional facility construction.

Our schools are 40-60 years old. They have served our community well – but now must be upgraded. No one doubts students must possess significantly more technical skills now than in 1960 to compete for good paying jobs and colleges. Our school facilities were simply not built for today's curriculum.

Measure ES is important to the community as a whole. Quality public schools create demand for our homes and increase residents' property values.

Once again, our West Covina Unified School District Governing Board Members, Civic and Community Leaders, Business Leaders and Owners, Parents, Teachers, Staff, and our Children ask you for your help.

VOTE YES on Measure ES

CAMIE POULOS
School Board President/Foster Parent

EILEEN MIRANDA JIMENEZ
School Board Vice President/Parent

MICHAEL FLOWERS
School Board Clerk/Retired Postal Carrier

JESSICA C. SHEWMAKER
School Board Member/Paralegal

DANIEL C. MONARREZ
School Board Member/Public School Educator

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

Full Text of Measure ES

PR-004896-8 LA 260-061

FULL TEXT OF BALLOT MEASURE ES

The following is the full proposition presented to the voters by the West Covina Unified School District.

"West Covina Unified School District Repair/Security Measure. To upgrade and modernize outdated classrooms, science labs/career-training facilities to support 21st Century instruction and student achievement in math, science, engineering, arts and skilled trades, repair/replace deteriorating roofs, plumbing, electrical systems/portables, improve student/campus safety, repair, acquire/construct classrooms, sites, facilities, equipment/technology, shall West Covina Unified School District issue $143,000,000 in bonds at legal rates, with independent citizen oversight, audits, no money for administrator salaries, and all money staying local?"

PROJECT LIST

The Board of Education of the West Covina Unified School District is committed to improving the quality of education in local public schools with safe, secure, upgraded classrooms, labs and technology needed to support high quality instruction in math, science, engineering and technology. To that end, the Board evaluated the District's urgent and critical facility needs, including the age of District schools, student safety, class size reduction, computer and information technology, and prepared a Facilities Needs Assessment Report March 2016, which is incorporated herein in its entirety, in developing the scope of projects to be funded. The District conducted a facilities evaluation and received public input in developing this Project List. Teachers, staff, community members and the Board have prioritized the key health and safety needs so that the most critical facility needs are addressed. The Board concluded that protecting the quality of our schools, the quality of life in our community, and the value of our homes is a wise investment. Therefore, in approving this Project List, the Board of Education determines that the District must:

  1. (i) Provide classrooms, labs and equipment for career and technology education classes so students are prepared for college and in-demand jobs in fields like health sciences, engineering, technology, and skilled trades; and
  2. (ii) Improve student safety and campus security systems, including security lighting, security cameras, emergency communication systems, smoke detectors, fire alarms, and sprinklers; and
  3. (iii) Repair or replace deteriorating roofs, plumbing, heating, ventilation, and electrical systems, where needed; and
  4. (iv) Provide the facilities, equipment and technology needed to support high quality instruction in math, science, engineering, and technology; and
  5. (Continued on next page)
    PR-004931-1 LA 260-062
    FULL TEXT OF BALLOT MEASURE ES (Continued)

  6. (v) Adhere to clear system of accountability, such as:
    1. (a) All expenditures must be subject to annual independent financial audits.
    2. (b) An independent citizens' oversight committee must be appointed to ensure that all funds are spent properly.

The Project List includes the following types of upgrades and improvements at District schools and sites:

LOCAL SCHOOL FUNDING TO SUPPORT HIGH QUALITY INSTRUCTION IN MATH, SCIENCE, ENGINEERING AND TECHNOLOGY:

Basic School Repair and Upgrade Projects

Goals and Purposes: All money raised by the measure will stay local to support our students. It cannot be taken away by the State or used for other purposes.

If we want our students to succeed in college and careers, they must be skilled in the use of today's technologies and have a solid background in science, math, and technology. This measure will make this possible.

Since most of our schools were built more than 60-years ago and require ongoing maintenance and improvements. Essential repairs and improvements must be made so that these schools can serve our community well for the decades to come.

  • Replace aging portable classrooms that are expensive to repair and maintain with modern classrooms.
  • Repair or replace deteriorating roofs, plumbing, heating, ventilation and electrical systems, where needed.
  • Provide facilities and technology needed to support high quality instruction in math, science and technology.
  • Provide facilities and equipment needed to support high quality instruction in music and performing arts.
  • Repair or replace old, worn-out athletic facilities to support student health, fitness and athletic programs.

(Continued on next page)

PR-004931-2 LA 260-063
FULL TEXT OF BALLOT MEASURE ES (Continued)

LOCAL FUNDING TO IMPROVE STUDENT SAFETY AND SECURITY:

Projects That Improve Student Safety and Preparedness
For College and Good Paying Jobs

Goal and Purpose: Whether or not you have school-age children, protecting the quality of our schools, the quality of life in our community, and the value of our homes is a wise investment.

  • Improve student safety and campus security systems, including security lighting, cameras, emergency communication systems, smoke detectors, fire alarms and sprinklers.
  • Provide classrooms, labs and equipment for career and technology education classes so students are prepared for college and in-demand jobs in fields like health sciences, engineering, technology, and skilled trades
  • Create modern, multi-use classrooms to support hands-on instruction and learning-by-doing.
  • Keep educational technology in the classroom up-to-date.
  • Improve pick-up and drop-off zones and parking lots to improve student safety and traffic flow on neighborhood streets.
  • Upgrade children's playground equipment and play areas to meet current health and safety standards.

FISCAL ACCOUNTABILITY

This bond measure has strict accountability requirements including:

1. All money will benefit local schools and CANNOT BE TAKEN BY THE STATE.

2. NO MONEY can be used for ADMINISTRATOR SALARIES.

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

4. NO TEACHER OR 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 or administrator salaries, pensions and other operating expenses.

(Continued on next page)
PR-004931-3 LA 260-064
FULL TEXT OF BALLOT MEASURE ES (Continued)

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

The listed projects will be completed . is assumed to include its share of furniture, equipment, architectural, engineering, and similar planning costs, program/project management, and a customary contingency for unforeseen design and construction costs. In addition to the listed projects stated above, the Project List also includes the acquisition of a variety of instructional, maintenance and operational equipment, including the and interim funding incurred to advance fund projects from the Project List; payment of the costs of preparation of all facility planning, facility studies, assessment reviews, facility master plan preparation and updates, environmental studies (including environmental investigation, remediation and monitoring), design and construction documentation, and temporary housing of dislocated District activities caused by construction projects.

In addition to the projects listed above, the repair, renovation, construction and equipping of school facilities includes, some or all of the following: renovate student and staff restrooms; upgrade libraries for 21st Century learning; construct classrooms and multipurpose buildings; repair and replace heating, air conditioning and ventilation systems; upgrade of facilities for energy efficiencies, including energy management systems; repair and replace worn-out and deteriorated roofs, windows, floors, floor coverings, walls, doors and drinking fountains; create single point of entry at school sites; improve or construct facilities for art, science, music, performing arts; improve school facilities for disability access; install shade structures, wiring and electrical systems to safely accommodate computers, technology and other electrical devices and needs; upgrade or construct classrooms, labs, support facilities (including administrative, non-student instruction spaces and District office), physical education (including playground equipment), and central and site kitchens; repair and replace gas, plumbing, water and sewer systems and lines, fire alarms, (Continued on next page)
PR-004931-4 LA 260-065
FULL TEXT OF BALLOT MEASURE ES (Continued)
fire safety systems, phone systems, emergency communications, security systems, doors and locks; resurface or replace hard courts, asphalt, turf and irrigation and water conservation systems and campus landscaping; expand or modify parking lots, parking structures, and drop-off areas; acquire land; interior and exterior painting and floor covering; demolition; construct various forms of storage and support spaces and classrooms; repair, upgrade and install interior and exterior lighting systems; construct, renovate or improve playgrounds, athletic fields, stadiums, pools, bleachers, lockers, tracks and play apparatus; install unitary surfacing in existing playgrounds; and replace outdated fences, security gates and cameras (including access control systems). The upgrading of technology infrastructure includes, but is not limited to, fiber optics, computers, LCD projectors, portable interface devices, servers, switches, routers, modules, sound projection systems, laser printers, digital white boards, document projectors, upgrade voice-over-IP, call manager and network security/firewall, wireless technology systems, refresh classroom technology, infrastructure upgrades and other miscellaneous equipment.

The allocation of bond proceeds will be affected by the final costs of each project. The budget for each project is an estimate and may be affected by factors beyond the District's control. Some projects throughout the District may be undertaken as joint use projects in cooperation with other local public or non-profit agencies. 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-004931-5 LA 260-066
FULL TEXT OF BALLOT MEASURE ES (Continued)

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 AND SCHOOL ADMINISTRATOR SALARIES AND OTHER OPERATING EXPENSES.

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

Measure ES Tax Rate Statement

PR-004931-12 LA 260-073

TAX RATE STATEMENT -MEASURE ES

To: The voters voting in the November 8, 2016 election on the question of the issuance of $143,000,000 General Obligation Bonds of the West Covina Unified School District.

You are hereby notified in accordance with Section 9401 of the Elections Code of the State of California of the following:

1. The best estimate from official sources of the tax rate which would be required to be levied to fund principal and interest payments during the first fiscal year after the first sale of bonds, based on assessed valuations available at the time of the election and taking into account estimated future growth, is the following:

$.060000 per $100 of assessed valuation, which equates to $60.00 per $100,000.

First fiscal year after the first sale of bonds: 2017-2018.

2. The best estimate from official sources of the tax rate which would be required to be levied to fund principal and interest payments during the first fiscal year after the last sale of bonds and an estimate of the year in which that rate will apply, based on assessed valuations available at the time of the election and taking into account estimated future growth, is as follows:

$.060000 per $100 of assessed valuation, which equates to $60.00 per $100,000.

First fiscal year after last sale of bonds: 2026-2027.

3. The best estimate from official sources of the highest tax rate which would be required to be levied to fund principal and interest payments on the bonds and an estimate of the year in which that rate will apply, based on assessed valuations available at the time of the election and taking into account estimated future growth, is as follows:

$.060000 per $100 of assessed valuation, which equates to $60.00 per $100,000.

Year of highest tax rate: 2017-2018 and thereafter.

4. The best estimate from official sources of the total debt service, including the principal and interest, which would be required to be repaid, if all of the bonds are issued and sold, based on interest rate information along with assessed valuations available at the time of the election and taking into account estimated future growth, is as follows:

Estimated total debt service, including the principal and interest: $257,507,200.

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 (Continued on next page)
PR-004931-13 LA 260-074
TAX RATE STATEMENT - MEASURE ES (Continued)
market interest rates at the time of each sale, and actual assessed valuations over the term of repayment of the bonds. The date of sale and the amount of bonds sold at any given time will be determined by the District based on its need for construction funds and other factors. The actual interest rates at which the bonds will be sold will depend on the bond market at the time of sale. Actual future assessed valuations will depend upon the amount and value of taxable property within the District as determined by the County Assessor in the annual assessment and the equalization process. Accordingly, the actual tax rates and the years in which such rates are applicable may vary from those presently estimated as above stated.

CHARLES D. HINMAN, Ed. D.
Superintendent of the
West Covina Unified School District

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

Measure ES Agenda Description

Agenda of August 9, 2016 (complete item)

VIII.D.6. Resolution of the Board of Education of the West Covina Unified School District Ordering an Election and Establishing Specifications of the Election Order (Action Item)
Speaker:
Robert R. Coghlan, Ph.D., Assistant Superintendent, Business Services
Rationale:

The resolution before the Board calls an election within the District for the purpose of approving general obligation bonds, requests that the Los Angeles County Registrar of Voters conduct the election on behalf of the District, and authorizes the preparation of election materials, including ballot arguments and tax rate statement, to be included in the ballot pamphlet.


State law requires the Board of Education to order school district bond elections.  The Los Angeles County Registrar of Voters will conduct the election on behalf of the District, including publishing all required notices.  This resolution meets the statutory requirements for describing the projects to be funded with the proceeds of the bonds, which is included as Exhibit B to the resolution.  A 75-word summary of the measure, as it will appear on the ballot, is also included in the resolution as Exhibit A. The resolution also authorizes the preparation and filing of a tax rate statement, which must be included in the ballot pamphlet, and describes the anticipated rates of tax throughout the life of the bond issue. The resolution also authorizes, but does not commit, the Board and/or individual members of the Board to prepare and sponsor a ballot argument in support of the bond measure.  No more than five (5) persons may sign the ballot argument.


This election will be called under constitutional and statutory provisions that require fifty-five percent (55%) voter approval, and certain accountability requirements, including annual independent financial and performance audits of how funds are spent, and the formation of a Citizens’ Bond Oversight Committee.  Following adoption, the resolution (including the signed tax rate statement) must be delivered to the Registrar of Voters and the Board of Supervisors. State law requires that two-thirds of a school board support the resolution calling an election requiring 55% voter approval.  At least four (4) Board members must vote “Yes” in order to call the election.



 
Financial Impact:

Cost of Election, to be determined and will be paid from District General Fund


Recommended Motion:
To approve the Resolution authorizing a bond election for November 8, 2016

Attachments:
Resolution

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

 


Copyright © 2015-2024, Richard Michael. All Rights Reserved.