Vote Yes on Inyo County Measure L - 2018 primary 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.


  Welcome    Question    Full Text    Tax Rate    Agenda    Resolution  

Welcome to the Yes No on Measure L Campaign

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

This campaign was designed by Eastshore Consulting LLC. 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.

  Welcome    Question    Full Text    Tax Rate    Agenda    Resolution  

Measure L Question

13

APPENDIX B

ABBREVIATED FORM OF MEASURE "_"*


"To renovate and upgrade classrooms, repair old facilities, make health, safety and security improvements for students, and improve energy efficiency to reduce operating costs, shall Owens Valley Unified School District issue $4.8 million in bonds at legal interest rates, projected tax rates of 6.0 per $100 of taxable value while bonds are outstanding (generating on average approximately $325,000 annually), and requiring audits, , ALL funds spent on Owens Valley schools and or pensions?"

Bonds-Yes Bonds-No


*As required pursuant to Education Code Section 5322 and Elections Code Section 13247.

B-1

  Welcome    Question    Full Text    Tax Rate    Agenda    Resolution  

Full Text of Measure L

7

APPENDIX A

FULL TEXT OF MEASURE "_"

INTRODUCTION

"To renovate and upgrade classrooms, repair old facilities, make health, safety and security improvements for students, and improve energy efficiency to reduce operating costs, shall Owens Valley Unified School District issue $4.8 million in bonds at legal interest rates, projected tax rates of 6.0 per $100 of taxable value while bonds are outstanding (generating on average approximately $325,000 annually), and requiring audits, citizens' oversight, ALL funds spent on Owens Valley schools and NO money for administrator salaries or pensions?"

BACKGROUND

Owens Valley Unified School District was formed more than 70 years ago, and our current campus was largely built in 1947 for the elementary school, with the addition of the high school in 1967. In 2005, local voters approved Measure B, a $2.6 million bond which allowed us to obtain more than $1 million in matching funds from the State, build our multipurpose room, and repair some of our roofs and infrastructure. However, many of our classrooms and other facilities are old and need further repairs and upgrades. In addition, there are other projects that could help the District improve the educational experience it provides to students and reduce our operating expenses to put more money back in the classroom.

Last year, we selected an architect to review our entire campus and provide cost estimates. The resulting facilities assessment, cost estimates and other related information are on file at the District offices, available for public inspection. To address the needs revealed in the assessment, including to renovate and upgrade classrooms, repair old facilities, make health, safety and security improvements for students, and improve energy efficiency to reduce operating costs, the Board of Trustees has decided to ask the community to authorize the issuance of general obligation bonds.

BOND AUTHORIZATION

By approval of this measure by at least 55% of the registered voters voting on the measure, the Owens Valley Unified School District will be authorized to issue and sell bonds of up to $4.8 million in aggregate principal amount at interest rates not to exceed legal limits and to provide financing for the specific types of school facilities projects listed in the Bond Project List described below, subject to all the accountability requirements specified below.

A-1

8

ACCOUNTABILITY REQUIREMENTS

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

Evaluation of Needs. The Board of Trustees has identified detailed facilities needs of the District and has determined which projects to finance from a local bond. The Board of Trustees hereby certifies that it has evaluated safety, class size reduction, enrollment growth, and information technology needs in developing the Bond Project List shown below.

Independent Citizens' Oversight Committee. Following approval of this measure, the Board of Trustees will establish an Independent Citizens' Oversight Committee, under Education Code Sections 15278 and following, to ensure bond proceeds are expended only on the types of school facilities projects listed below. The committee will be established within 60 days of the date when the results of the election appear in the minutes of the Board of Trustees.

Performance Audits. The Board of Trustees will conduct annual, independent performance audits to ensure that the bond proceeds have been expended only on the school facilities projects listed below.

Financial Audits. The Board of Trustees will conduct annual, independent financial audits of the bond proceeds until all of those proceeds have been spent for the school facilities projects listed below.

Government Code Accountability Requirements. As required by Section 53410 of the Government Code, (1) the specific purpose of the bonds is set forth in this Full Text of the Measure, (2) the proceeds from the sale of the bonds will be used only for the purposes specified in this measure, and not for any other purpose, (3) the proceeds of the bonds, when and if issued, will be deposited into a building fund to be held by the Inyo County Treasurer, as required by the California Education Code, and (4) the Superintendent of the District shall cause an annual report to be filed with the Board of Trustees of the District not later than January 1 of each year, which report shall contain pertinent information regarding the amount of funds collected and expended, as well as the status of the projects listed in this measure, as required by Sections 53410 and 53411 of the Government Code.

No Capital Appreciation Bonds. The Bonds shall be issued only as current interest bonds, and NOT as capital appreciation bonds.

Responsible Repayment Cost. The repayment ratio of the bonds will be no more than 2.5 to 1, meaning each dollar of bonds sold will cost taxpayers no more than $2.50 to repay, including interest.

A-2

9

Additional Sources of Funding. The District plans to use a portion its operating budget to address a portion of its facilities needs, and to attempt to gain additional State facilities funding to further improve Owens Valley schools.

NO TEACHER OR ADMINISTRATOR SALARIES

Proceeds from the sale of bonds authorized by this measure shall be used only for the purposes specified in Article XIII A, Section 1(b)(3), the construction, reconstruction, rehabilitation, or replacement of school facilities, including the furnishing and equipping of school facilities, and the acquisition or lease of school facilities, and not for any other purpose, including teacher and administrator salaries or other school operating expenses.

STATE MATCHING FUNDS

The following statement is included in this measure pursuant to Education Code Section 15122.5: Approval of this measure does not guarantee that the proposed project or projects that are the subject of bonds under this measure will be funded beyond the local revenues generated by this measure. The District's proposal for the project or projects described below may assume the receipt of matching state funds, which, if available, could be subject to appropriation by the State Legislature or approval of a statewide bond measure.

INFORMATION ABOUT ESTIMATES AND PROJECTIONS INCLUDED IN BALLOT

This measure authorizes the issuance of general obligation bonds to finance the types of projects set forth on the Bond Project List set forth below, to be repaid by tax collections for the years that bonds are outstanding. The measure presented to District voters on the Ballot, as set forth above under the heading "INTRODUCTION", includes information regarding the expected approximate amount of money to be raised annually to pay issued bonds, the estimated rate of the approved tax per $100 of assessed valuation, and the year through which it is approximated the proposed tax will be levied and collected. Each of these estimates and approximations are provided as informational only. Such amounts are estimates only, and are not maximum amounts or limitations on the terms of the bonds or the tax rate or duration supporting repayment of bonds. The approximations and estimates provided depend on numerous variables which are subject to variation and may change according to the District's overall facilities and bond financing plan, including but not limited to the amount of bonds issued and outstanding at any one time, the interest rates applicable to issued bonds, market conditions at the time of sale of the bonds, when bonds mature, timing of project needs and changes in assessed valuations in the District. As such, while such estimates and approximations have been provided based on information currently available to the District and its current expectations, such estimates and approximations are projections, and are not limitations and are not binding upon the District.

BOND PROJECT LIST

Bond proceeds will be expended on the modernization, renovation, acquisition, construction, reconstruction, rehabilitation, and/or replacement of school facilities of the Owens Valley Unified School District, including the furnishing and equipping of such school facilities.

A-3

10

The Bond Project List below describes the specific types of projects the Owens Valley Unified School District proposes to finance with proceeds of the bonds. Listed projects will be completed as needed 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. The final cost of each project will be determined as plans are finalized, construction bids are awarded, and projects are completed. Certain construction funds expected from non-bond sources, including State grant funds for eligible projects, have not yet been secured. Until all project costs and funding sources are known, the Board of Trustees cannot determine the amount of bond proceeds available to be spent on each project, nor guarantee that the bonds will provide sufficient funds to allow completion of all listed projects. Completion of some projects may be subject to further government approvals or appropriation by State officials and boards, to local environmental review, and to input from the public. For these reasons, inclusion of a project on the Bond Project List is not a guarantee that the project will be funded or completed.

  • 0 Repair, replace or renovate aging buildings and infrastructure
  • 0 Upgrade student safety and security, including installing new security systems
  • 0 Modernize, renovate, construct and/or expand aging and outdated classrooms and school facilities to meet 21st Century educational standards, including providing updated furnishings and other equipment to facilitate a modern learning environment
  • 0 Make health, safety and handicapped accessibility improvements to ensure compliance with all applicable laws and regulations
  • 0 Make other basic repairs, including to roofing, plumbing, electrical and sewer systems
  • 0 Repair or replace outdated heating, ventilation and air-conditioning systems
  • 0 Upgrade inadequate electrical systems
  • 0 Improve technology infrastructure and replace public address systems
  • 0 Make facility improvements to increase the District's energy efficiency and reduce operating costs
  • 0 Repair, replace and/or upgrade paved surfaces, turf, and other grounds and outdoor areas, including to eliminate safety hazards
  • 0 Make Federal and State-mandated Americans with Disabilities Act (ADA) accessibility upgrades including ensuring site access, parking, staff and student restrooms, relocation of existing electrical devices, drinking fountains, playground equipment, etc. as necessary, to ensure adequate accommodations are provided and all legal requirements are met
  • 0 Upgrade, repair and/or expand school site parking, roadways, grounds and other infrastructure such as utility systems, including installing exterior lighting, repairing pathways, walkways, ADA access ramps, and make landscaping improvements including irrigation
  • 0 Improve, rehabilitate and/or construct playgrounds, fields, play structures and other facilities for school, PE. and community use, including swimming facilities and the provision of related equipment
  • A-4

    11
  • 0 Abate and remove hazardous materials identified prior to or during construction (e.g. lead, asbestos, etc.)
  • 0 Address unforeseen conditions and latent defects in materials revealed by these projects (e.g. dry rot, structural, etc.)
  • 0 Perform necessary site preparation/restoration in connection with repairs or remodeling
  • 0 Make other improvements to classrooms and repair, replace, renovate or construct additional new facilities in the District (including solar installations), to the extent State Aid becomes available

Each of the bond projects described in this Bond Project List include the costs of furnishing and equipping such facilities, and all costs which are incidental but directly related to the types of projects described above. Examples of incidental costs include, but are not limited to: costs of design, engineering, architect and other professional services, facilities assessments, inspections, site preparation, utilities, landscaping, construction management and other planning and permitting, legal, accounting and similar costs; independent annual financial and performance audits; a customary construction contingency; demolition and disposal of existing structures; the costs of interim housing and storage during construction including relocation and construction costs incurred relating to interim facilities; rental or construction of storage facilities and other space on an interim basis for materials and other equipment and furnishings displaced during construction; costs of relocating facilities and equipment as needed in connection with the projects; interim classrooms and facilities for students, administrators, and school functions, including modular facilities; federal and state-mandated safety upgrades; addressing unforeseen conditions revealed by construction/modernization and other necessary improvements required to comply with existing building codes, including the Field Act; access requirements of the Americans with Disabilities Act; costs of the election; bond issuance costs; and project construction oversight and administration during the duration of such projects, including by District personnel, as permitted by law. The upgrading of technology infrastructure includes, but is not limited to, portable interface devices, servers, switches, routers, modules, sound projection systems, laser printers, digital white boards, display technology, projectors, upgrade voice-over-IP, call manager and network security/firewall, wireless technology systems and other miscellaneous equipment and software.

The scope and nature of any of the specific projects described above may be altered by the District as required by unforeseen conditions that may arise during the course of design and construction. In the event that a modernization or renovation project is more economical for the District to be undertaken as new construction, this bond measure authorizes land acquisition, relocation, expansion, and construction and/or reconstruction, and all costs relating thereto, for said reason or, alternatively, based on other considerations deemed in the best interest of the District by the Board of Trustees. In addition, this measure authorizes the acquisition of real property, including necessary rights of ways or other real property interests, required to expand District facilities, to provide access to school or other District facilities, or to provide additional school or related facilities. In addition, authorized projects include reimbursements for paid project costs and paying and/or prepaying interim or previously obtained financing for the types of projects included on the project list, such as bond anticipation notes, and including A-5 12 payment and prepayment of lease payments relating to projects and/or equipment previously financed.

Approval of the Measure does not guarantee that all of the identified projects within this Bond Project List will be funded beyond what can be completed with local funds generated by the Measure. The District plans to pursue funds from the State of California, if available, to complete certain of the identified facilities projects.

The order in which school facilities projects are listed in the foregoing Bond Project List does not suggest an order of priority. Project priorities will be determined by the Board of Trustees. The District is unable to anticipate all unforeseen circumstances which may prevent some of the projects listed above from being undertaken or completed.

The Bond Project List shall be considered a part of this ballot proposition, and shall be reproduced in any official document required to contain the full statement of the bond proposition.

A-6

  Welcome    Question    Full Text    Tax Rate    Agenda    Resolution  

Measure L Tax Rate Statement

14

APPENDIX C

TAX RATE STATEMENT

An election will be held in the Owens Valley Unified School District (the "District") on June 5, 2018, to authorize the sale of up to $4.8 million in general obligation bonds of the District to finance school facilities as described in the measure. If such bonds are authorized and sold, principal and interest on the bonds will be payable only from the proceeds of ad valorem tax levies made upon the taxable property in the District. The following information is provided in compliance with Sections 9400-9404 of the Elections Code of the State of California. Such information is based upon the best estimates and projections presently available from official sources, upon experience within the District, and other demonstrable factors.

Based upon the foregoing and projections of the District's assessed valuation, the following information is provided:

  1. 1. The best estimate of the average annual tax rate which would be required to be levied to fund this bond issue over the entire duration of the bond debt service, based on a projection of assessed valuations available at the time of filing of this statement, is 6.0 per $100 of assessed valuation (or $60 per $100,000 of assessed value). The final fiscal year in which it is anticipated that the tax will be collected is 2047-48.
  2. 2. The best estimate of the highest tax rate which would be required to be levied to fund this bond issue, based on a projection of assessed valuations available at the time of filing of this statement, is 6.0 per $100 of assessed valuation (or $60 per $100,000 of assessed value). It is estimated that such rate would be levied each year the bonds are outstanding, starting in fiscal year 2018-19.
  3. 3. The best estimate of the total debt service, including the principal and interest, that would be required to be repaid if all the bonds are issued and sold is approximately $9.4 million.

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

The attention of all voters is directed to the fact that the foregoing information is based upon projections and estimates only, which amounts are not maximum amounts and durations and are not binding upon the District. The actual debt service, tax rates and the years in which they will apply may vary from those used to provide the estimates set forth above, due to factors such as variations in the timing of bond sales, the par amount of bonds sold and market interest rates available at the time of each sale, actual assessed valuations over the term of the bonds, and other factors. The date and amount of bonds sold at any given time will be determined by the District based on the need for project funds and other considerations. The actual interest rates at which the bonds will be sold C-1 15 will depend on conditions in 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.

By: /s/Daniel Moore
Dan Moore, Superintendent
Owens Valley School District

C-2

  Welcome    Question    Full Text    Tax Rate    Agenda    Resolution  

Measure L Agenda Description

Agenda of March 6, 2018 (complete item)

OWENS VALLEY UNIFIED SCHOOL DISTRICT
BOARD OF TRUSTEES
SPECIAL MEETING AGENDA

Date: TUESDAY, MARCH 6, 2018
Time: 6:00 6:30 PM CLOSED SESSION

7.0 ACTION/DISCUSSION ITEMS

7.1 Approve Resolution 1718-04, RESOLUTION OF THE BOARD OF TRUSTEES OF THE OWENS VALLEY UNIFIED SCHOOL DISTRICT ORDERING AN ELECTION TO AUTHORIZE THE ISSUANCE OF THE GENERAL OBLIGATION BONDS, ESTABLISHING SPECIFICATIONS OF THE ELECTION ORDER, AND REQUESTING CONSOLIDATION WITH OTHER ELECTIONS OCCURING ON JUNE 5, 2018- See attached. (Pages 1-14)

Approve Resolution 1718-04, RESOLUTION OF THE BOARD OF TRUSTEES OF THE OWENS VALLEY UNIFIED SCHOOL DISTRICT ORDERING AN ELECTION TO AUTHORIZE THE ISSUANCE OF THE GENERAL OBLIGATION BONDS, ESTABLISHING SPECIFICATIONS OF THE ELECTION ORDER, AND REQUESTING CONSOLIDATION WITH OTHER ELECTIONS OCCURING ON JUNE 5, 2018 as presented.

Motion: ____________ Seconded: _____________ Ayes: _______ Noes: _______

  Welcome    Question    Full Text    Tax Rate    Agenda    Resolution  

Measure L Resolution

1 2

Measure L

MAR 07 2018
INYO CO. CLERK
KAMMI FOOTE, CLERK
BY /s/ DEPUTY

OWENS VALLEY UNIFIED SCHOOL DISTRICT
RESOLUTION NO. 1718-04

RESOLUTION OF THE BOARD OF TRUSTEES OF THE
OWENS VALLEY 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 5, 2018

WHEREAS, the Owens Valley Unified School District (the "District") in Inyo County (the "County"), State of California, is committed to providing quality education to its students; and

WHEREAS, the District's facilities are in need of repairs, upgrades, modernization and safety and security improvements in order to provide the education District students deserve in a safe and modern environment; and

WHEREAS, a local funding source is needed to enable the District to improve its facilities for its present and future students; and

WHEREAS, in the judgment of the Board of Trustees (the "Board") of the District, 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 raising money for the acquisition and improvement of real property and the furnishing and equipping of school facilities of the District; and

WHEREAS, the Board is authorized, upon a two-thirds vote of the Board, to pursue the authorization and issuance of bonds by a 55% vote of the electorate on the question of whether bonds of the District shall be issued and sold for specified purposes, under Article XIIIA Section 1 paragraph (b) of the California Constitution ("Article XIIIA") and under Education Code Section 15264 et seq. (the "Act");

WHEREAS, under the Act, the election may be ordered at a primary or general election, a regularly scheduled local election, or a statewide special election;

WHEREAS, under Section 10403 et seq. of the California Elections Code, it is appropriate for the Board to request consolidation of the election with any and all other elections to be held on Tuesday, June 5, 2018, the date of the statewide primary election, and to request the Inyo County Registrar of Voters (the "County Registrar") to perform certain election services for the District;

WHEREAS, in connection with the calling of a bond election and in accordance with Education Code Section 15100 subparagraph (c), the Board has obtained reasonable and informed projections of assessed property valuations that take into consideration projections of assessed property valuations made by the County Assessor; and

WHEREAS, United States Income Tax Regulations section 1.150-2 provides generally that proceeds of tax-exempt debt are not deemed to be expended when such proceeds are used for reimbursement of expenditures made prior to the date of issuance 3 of such debt unless certain procedures are followed, one of which is a requirement that (with certain exceptions), prior to the payment of any such expenditure, the issuer declares an intention to reimburse such expenditure from the proceeds of bonds issued pursuant to voter authorization;

NOW, THEREFORE, THE BOARD OF TRUSTEES OF THE OWENS VALLEY UNIFIED SCHOOL DISTRICT DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:

Section 1. Recitals. The foregoing recitals are true and correct.

Section 2. 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 a maximum principal amount of $4.8 million (the "Bonds") for the purposes described in the ballot measure approved under Section 3 and attached hereto as Appendix A and Appendix B, and paying all costs incident thereto. This Resolution constitutes the order of the District to call such election and shall constitute the "specifications of the election order" pursuant to Education Code Section 5322.

Section 3. Election Date. The date of the election shall be June 5, 2018, and such bond election shall be held solely within the boundaries of the District. The boundaries of the District have not changed since the District's last election.

Section 4. Purpose of Election; Ballot Measure. The purpose of the election shall be for the voters in the District to vote on a bond measure, the full text of which is attached hereto as Appendix A (the "Full Text of the 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 Full Text of the Measure, which commences with the heading "FULL TEXT OF MEASURE """_ and includes all of the text thereafter on Appendix A, shall be printed in the voter information pamphlet provided to voters, with such measure designation as is assigned to the measure. As required by Education Code Section 5322 and Elections Code Section 13247, the abbreviated form of the measure to appear on the ballot is attached hereto as Appendix B. The Superintendent is hereby authorized and directed to make any changes to the text of the full text and/or abbreviated measure as described herein to conform to any requirements of the Article XIIIA, the Act or the County Registrar.

Section 5. Authority for Election. The authority for ordering the election is contained in Section 15264 et. seq. of the Act and Section 1 paragraph (b) subsection (3) of Article XIIIA. The authority for the specification of this election order is contained in Section 5322 of the Education Code.

Section 6. Proceeds for School Facilities Projects. The Board certifies that the proceeds from the sale of the Bonds will be used only for the purposes specified in Section 1(b)(3) of Article XIII A and as further specified in Appendix A, and not for any other purpose, including teacher and administrator salaries and other school operating expenses. Further, as required by Article XIIIA, the Board hereby certifies that it has evaluated safety, class size and information technology needs in developing the list of school facilities projects set forth in Appendix A.

-2-

4

Section 7. Covenants of the Board upon Approval of the Bonds by the Electorate; Accountability Measures. As required by Article XIIIA, Section 15278 of the Act, and Government Code Section 53410, in the event 55% of the voters voting in the District approve of the Bonds, the Board shall:

  1. (a) conduct an annual, independent performance audit to ensure that the funds have been expended only on the projects listed in Appendix A;
  2. (b) conduct an annual, independent financial audit of the proceeds from the sale of the Bonds until all of those proceeds have been expended for the school facilities projects listed in Appendix A;
  3. (c) establish and appoint members to an independent citizens' oversight committee in accordance with Sections 15278, 15280, and 15282 of the Act;
  4. (d) apply the Bond proceeds only to the specific purposes stated in the ballot proposition;
  5. (e) cause the creation of accounts into which bond proceeds shall be deposited; and
  6. (f) cause the preparation of an annual report pursuant to Government Code Sections 53410 and 53411.

Section 8. Statement Regarding State Matching Funds. The District anticipates that matching funds from the State of California, if available, may be required to complete a portion of the projects identified in Appendix A. As required pursuant to Education Code Section 151225, the following statement shall appear on the ballot: "Approval of this measure does not guarantee that the proposed project or projects that are the subject of bonds under this measure will be funded beyond the local revenues generated by this measure. The District's proposal for the project or projects described below may assume the receipt of matching state funds, which, if available, could be subject to appropriation by the Legislature or approval of a statewide bond measure."

Section 9. Delivery of this Resolution. The Clerk of the Board is hereby directed to send a copy of this Resolution to (1) the Inyo County Superintendent of Schools, (2) the County Registrar, and (3) the Inyo County Clerk of the Board of Supervisors. Pursuant to Education Code Section 5322, the Resolution shall be received by the County Registrar no later than 88 days prior to the election date, unless otherwise permitted by law.

The County Registrar is hereby requested to print the full text of the ballot measure in the ballot materials as it appears on Appendix A hereto and to provide all required notices of the election and other notices related thereto.

Section 10. Consolidation of Election; Request to Provide Services. The County Registrar and the Inyo County Board of Supervisors are hereby requested to consolidate the election ordered hereby with any and all other elections to be held on June -3- 5 5, 2018 within the District. Pursuant to Section 5303 of the Education Code and Section 10002 of the Elections Code, the Board of Supervisors of Inyo County is requested to permit the County Registrar to render all services specified by Section 10418 of the Elections Code relating to the election, for which services the District agrees to reimburse Inyo County in full upon presentation of a bill from the County, such services to include the publication of a formal Notice of School Bond Election and the mailing of the sample ballot and tax rate statement (described in Section 9401 of the Elections Code).

Section 11. Ballot Arguments. As provided in Elections Code Section 9501, any and all members of this Board are hereby authorized to act as an author of any ballot argument prepared in connection with the election, including a rebuttal argument.

Section 12. Tax Rate Statement. Pursuant to Elections Code Section 9401, a tax rate statement has been prepared in the form attached hereto as Appendix C, which form of Tax Rate Statement is hereby approved for inclusion in the sample ballot. The President of the Board, the Superintendent, or any written designee of the foregoing, are hereby authorized to finalize and execute the tax rate statement, and to file said statement with the County Registrar, in accordance with Section 9 hereof.

Section 13. Maturity Limit of Bonds. The Bonds may be issued in series by the District from time to time, and each series of Bonds shall mature not more than the legal limit at the time of such issuance thereof. The Bonds shall be issued under the Act, under the provisions of Section 53506 et seq. of the California Government Code, or under any other provision of law authorizing the issuance of general obligation bonds by school districts.

Section 14. Engagement of Professional Services. The firm of Eastshore Consulting LLC is hereby appointed to serve as municipal advisor and the firm of Jones Hall, A Professional Law Corporation, is hereby appointed to serve as bond counsel and disclosure counsel, each in connection with the bond election and, if successful, subsequent bond issuances. The Superintendent is hereby authorized and directed to execute agreements with the such firms in the respective forms on file with the Superintendent, as required.

Section 15. Reimbursement. The District hereby declares that it may (i) pay certain costs of the projects listed in Appendix A prior to the date of issuance of bonds and, in such case, (ii) intends to use a portion of the proceeds of bonds for reimbursement of expenditures for the projects that are paid before the date of issuance of bonds.

Section 16. Official Actions. The President of the Board, the Superintendent, or any written designee of the foregoing, are hereby separately authorized and directed to execute and deliver to County officials any directions, requisitions or other writings, and to make any changes to the texts of the measure as described herein and in the tax rate statement, to conform to any legal requirements or the County Registrar, in order to cause the election to be held and conducted in the District.

Section 17. Effective Date. This resolution shall take effect on and after its adoption.

* * * * * * * *

-4- 6

The foregoing Resolution was adopted by the Board of Trustees of the Owens Valley Unified School District of Inyo County, being the Board authorized by law to make the designations therein contained by the following vote, on March 6, 2018.

Adopted by the following votes:

AYES: 5

NOES: 0

ABSENT: O

ABSTAIN: 0

/s/Cecil Faircloth
President of the Board

Attest:

/s/
Secretary to the Board

-5-

  Welcome    Question    Full Text    Tax Rate    Agenda    Resolution  

 


Copyright © 2015-2018, Richard Michael. All Rights Reserved.