Pleasant Valley Schools: Vote Yes on Measure C Bonds - Ventura County - 2018 primary Election
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  Welcome    Question    Argument in Favor    Rebuttal in Favor    Argument Against    Full Text    Tax Rate    Agenda    Resolution  

Welcome to the Yes No on Measure C Campaign

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

This campaign was designed by Isom Advisors. 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    Argument in Favor    Rebuttal in Favor    Argument Against    Full Text    Tax Rate    Agenda    Resolution  

Measure C Question

B-1

APPENDIX B

ABBREVIATED FORM OF BOND MEASURE


"To improve the quality of education; ; increase energy efficiency; modernize and construct classrooms, restrooms and school facilities; and improve student access to modern technology; shall Pleasant Valley School District issue $119,000,000 of bonds at legal rates, raising between $4,400,000 - $10,800,000 annually through 2048 at a rate of approximately $0.03 per $100 assessed value, with annual audits, an , , and funding that cannot be taken by the State?"

Bonds—Yes Bonds—No


To improve the quality of education; repair/replace leaky roofs; increase energy efficiency; modernize and construct classrooms, restrooms and school facilities; and improve student access to modern technology; shall Pleasant Valley School District issue $119,000,000 of bonds at legal rates, raising between $4,400,000 - $10,800,000 annually through 2048 at a rate of approximately $0.03 per $100 assessed value, with annual audits, an independent citizens' oversight, NO money for salaries, and funding that cannot be taken by the State?

  Welcome    Question    Argument in Favor    Rebuttal in Favor    Argument Against    Full Text    Tax Rate    Agenda    Resolution  

Argument in Favor of Measure C

Our children are the most important asset in our community and should be our number one priority. Research shows that improving school facilities leads to better education outcomes for our students. Remodeled and updated school facilities strengthen and enrich the entire Camarillo community. From neighborhood safety to improved property values, quality schools make a difference.

While our teachers do a great job of educating our children, and our facilities have been well maintained, with an many facilities are outdated and not ready to provide students with the learning environment they need to succeed. This is why our community needs your YES vote on Measure C!

By investing in all of our neighborhood schools we can meet today's safety, technology, and educational standards and better our community.

Measure C will upgrade, modernize, and renovate outdated classrooms and school facilities at Camarillo schools including:

  • Major security and safety improvements
  • Renovating facilities to support science, technology, engineering, math, music, and the performing arts
  • Repairing or replacing
  • Improving student access to computers and modern technology
  • Replacing deteriorating plumbing and sewer systems
  • Improvements to athletic facilities that are used for both youth and adult sports
  • Measure C makes financial sense and protects taxpayers:

  • By law, all funds must be spent locally and cannot be taken by the State
  • Preventive action now will avert costly repairs later
  • Spending must be reviewed and
  • Funds can only be spent to improve our local schools,
  • Measure C upgrades and renovates old and inadequate classrooms at every school site, , and enhances the quality of our community. That's something we can all support. Please join us and VOTE YES ON MEASURE C!

    Bob Rust
    President, PVSD Governing Board 2/28/18

    KATHY I. LOng
    Ventura County Supervisor - Ret. 2/28/18

    MARK LISAGOR
    TRUSTEE, VENTURA COUNTY BOARD OF EDUCATION 2/28/18

    Gary Cushing
    CEO - Chamber of Commerce 2/27/18

    Roberto Martinez
    CEO / President Boys and Girls Club of Camarillo / Parent 2/28/18

    Contact Person: Bob Rust Phone: 805-479-5206 Fax: Mailing Address: 1564 Lexington Ct;Camarillo CA 90310 E-Mail: bob@rusts.net

      Welcome    Question    Argument in Favor    Rebuttal in Favor    Argument Against    Full Text    Tax Rate    Agenda    Resolution  

    Rebuttal to Argument in Favor of Measure C

    Did you know that lawyers and advisors write bond arguments all over California? Just tired, old cliches.
    
    You've read the spin. Here's the rest of the story.
    
    
    NO ADMINISTRATOR SALARIES?
    
    Is that promised?
    
    Constitution says no salaries. Statutes say no salaries. Resolution, question, measure, and argument say no salaries. Guess what lawyers snuck in? Hint: Read "kitchen sink" paragraph. Salaries will be paid. You can take that to the bank.
    
    
    FACTS
    
    How did District get to $119,000,000? It's maximum it can tax in one measure.
    
    Measure C is a contract. Have you read the fine print? Besides District salaries, what else does it pay for? -- "accounting," "audits,", "costs of election," "administration," "previously obtained financing," "lease payments," and on and on.
    
    Are our schools REALLY falling apart? Have you ever read School Accountability Report Cards? (sarconline.org) All, yes ALL, of our school facilities are rated "exemplary." Not a "leaky roof" in the lot. Who's being deceptive and dishonest here?
    
    Should you believe SARCs required by law? Or Districts's fantasies (Measure C) written to sell you a bill of goods?
    
    What other claims is District making that don't jive with SARCs? with Measure C?
    
    
    BOTTOM LINE
    
    Can you trust District? Have you seen enough to convince you that, when you're not looking, District is willing to breach law, its promises, and its trust?
    
    Would you really agree to a written contract where promises weren't explicitly and unambiguously written into it?
    
    You're being deceived! Don't sign a blank check. Vote NO! Learn more: http://bit.ly/NoPVESDBond
    
    

      Welcome    Question    Argument in Favor    Rebuttal in Favor    Argument Against    Full Text    Tax Rate    Agenda    Resolution  

    Argument Against Measure C

    Are you parents? Do you hold your children accountable?
    
    Supporting schools is good. Supporting wasting your money on vague, unenforceable promises is bad.
    
    Lucky you! You have two bonds to vote on in the same election.
    
    Don't be deceived by District's campaign, funded by businesses that will likely benefit from bond money. (Isn't that called pay-to-play?) Beware of high-priced marketers masquerading as "parents, teachers, and community leaders."
    
    Why Vote No on Measure C
    
    - It's virtually, word-for-word, identical to every other bond measure written by lawyers and advisors who make hundreds of thousands of dollars (payable by you, with interest) every time bonds are issued.
    
    - Did you hear about a list of projects? Why isn't there a list of SPECIFIC projects in Measure C? Because it would restrict the District to spend the money ONLY on those things?
    
    - Were you surveyed? Did you get a campaign mailer from District? YOU PAID for it all. Is that fair? Using your money for campaign purposes?
    
    - Did you know that District issued $49,000,000 in Measure T bonds? (You'll still be paying for years to come.) Did it ever report to you exactly where that money went?
    
    
    Proposition 39 permits a bare majority of voters (55%) to approve these bonds. "To ensure that before they vote, voters will be given a list of specific projects their bond money will be used for," it requires that Measure C be a "list of the specific school facilities projects to be funded." (Source: Proposition 39 ballot measure.)
    
    Measure C's intentionally vague language gives District a BLANK CHECK with NO ACCOUNTABILITY.
    
    Don't vote to waste your taxes on vague promises. Did District keep its promises from Measure T?
    
    Bond money is like drugs. Don't give District another fix. Just say no to both Measure C and Measure A!
    
    Want more evidence of District's deception? http://bit.ly/NoPVESDBond
    
    

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    Full Text of Measure C

    A-1

    APPENDIX A

    FULL TEXT OF BOND MEASURE

    INTRODUCTION

    To improve the quality of education; repair/replace leaky roofs; increase energy efficiency; modernize and construct classrooms, restrooms and school facilities; and improve student access to modern technology; shall Pleasant Valley School District issue $119,000,000 of bonds at legal rates, raising between $4,400,000 - $10,800,000 annually through 2048 at a rate of approximately $0.03 per $100 assessed value, with annual audits, an independent citizens' oversight, NO money for salaries, and funding that cannot be taken by the State?

    BOND AUTHORIZATION

    By approval of this measure by at least 55 percent of the registered voters voting on the measure, the Pleasant Valley School District will be authorized to issue and sell bonds of up to $119.0 million in aggregate principal amount at interest rates not to exceed legal limits and to provide financing for the specific listed in the Bond Project List described below, subject to all the accountability requirements specified below.

    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 School Board has identified detailed facilities needs of the District and has determined which projects to finance from a local bond. The School Board 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 School Board.

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

    A-2

    Financial Audits. The School Board 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 Ventura 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 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), those being for 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 and 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 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 average 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 change over the term of 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 A-3 information currently available to the District and its current expectations, such estimates and approximations are not limitations and are not binding upon the District.

    BOND PROJECT LIST

    Scope of Projects. Bond proceeds will be expended on the modernization, renovation, expansion, acquisition, construction/reconstruction, rehabilitation, and/or replacement of school facilities of the Pleasant Valley School District, including the furnishing and equipping of such school facilities. This measure authorizes bond projects to be undertaken at all District sites, including current and . Current sites listed below:

    Camarillo Heights STEM Academy
    Dos Caminos Elementary School
    La Mariposa Elementary School
    Las Colinas Middle School
    Las Posas Elementary School
    Los Primeros School of Sciences & Arts
    Monte Vista Middle School
    Pleasant Valley School of Engineering and Arts
    Rancho Rosal Elementary School
    Santa Rosa Technology Magnet School
    Tierra Linda Elementary School

    School Facility Project List. The items presented on the following list are the types of projects authorized to be financed with voter-approved bond proceeds. described and authorized by this measure. The types of projects authorized are:

    • ? Renovate and expand labs to accommodate science, technology, engineering, and math
    • ? Repair or replace leaky roofs
    • ? Improve student access to computers and modern technology
    • ? Replace deteriorating plumbing and sewer systems
    • ? Upgrade inadequate electrical systems
    • ? Replace or renovate outdated heating, ventilation and air-conditioning systems
    • ? Make health, safety and handicapped accessibility improvements
    • ? Upgrade fire alarm and security systems
    • ? Modernize outdated classrooms, restrooms and school facilities
    • ? Replace outdated, temporary portables with permanent classrooms
    • ? Construct or renovate facilities to provide adequate kindergarten and TK classrooms and restrooms
    • ? Renovate or construct classrooms for band and music programs
    • ? Make energy efficiency improvements, including installing solar panels
    • ? Make water conservation improvements through drought tolerant landscaping
    • ? Improve playgrounds and playfields for school and community use
    • ? Construct/renovate multi-purpose rooms for school and community use
    • ? Construct a central kitchen for improved food quality and selection
    • A-4

    • ? Federal and State-mandated Americans with Disabilities Act (ADA) accessibility upgrades including site access, parking, staff and student restrooms, relocation of some existing electrical devices, drinking fountains, playground equipment, etc.
    • ? Abate and remove hazardous materials identified prior to or during construction
    • ? Repair, replace and/or upgrade paved surfaces, turf, and other grounds to eliminate safety hazards and improve outside instructional areas

    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; ; 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; ; bond issuance costs; and , as .

    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 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 Governing Board. 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 for the types of projects included on the project list, such as bond anticipation notes, and including relating to projects and/or equipment previously financed.

    Approval of the District's bond 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 bond 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 A-5 Trustees. The District is unable to anticipate all unforeseen circumstances which may prevent some of the projects listed above from being undertaken or completed.

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    Measure C Tax Rate Statement

    C-1

    APPENDIX C

    TAX RATE STATEMENT
    REGARDING PROPOSED
    $119.0 MILLION
    PLEASANT VALLEY SCHOOL DISTRICT
    GENERAL OBLIGATION BONDS

    An election will be held in the Pleasant Valley School District (the "District") on June 5, 2018, to authorize the sale of up to $119.0 million in 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 $0.03 per $100 of assessed valuation (or $30 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 $0.03 per $100 of assessed valuation (or $30 per $100,000 of assessed value). It is estimated that such rate would be levied starting in fiscal year 2018-19 and following.
    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 $219.0 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 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

    C-2 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 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: ____
    Superintendent
    Pleasant Valley School District

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    Measure C Agenda Description

    Agenda of January 25, 2018 (complete item)

    Regular Board Meeting
    Pleasant Valley SD
    January 25, 2018 6:00PM

    I.4. Approval of Consulting Services Agreement with Isom Advisors
    Speaker:
    Chris Johnston
    Recommended Motion:

    The Board approve the Consulting Services Agreement with Isom Advisors for financial planning services related to a general obligation bond initiative.

    Rationale:
    The Consulting Services Agreement with Isom Advisors would provide the District with financial planning services related to a general obligation bond initiative. 

     
    Quick Summary / Abstract:
    Staff recommends that the Board approve the Consulting Services Agreement with Isom Advisors for financial planning services related to a general obligation bond initiative. 

    Financial Impact:

    The fee for financial planning services for an election is $25,000. 


    Attachments:
    Isom Advisors Financial Planning Serv. for Election
    I.5. Board Resolution Number 18-03: Bond Election Authorization
    Speaker:
    Chris Johnston
    Recommended Motion:

    The Board approve Resolution Number 18-03 authorizing a bond election for June 5, 2018.



    Rationale:

    The primary purpose of the proposed bond is to upgrade, renovate, modernize, and construct school facilities throughout the District. Although our schools have been well maintained and our District has invested in our school facilities, our sites, classrooms, and utilities infrastructure are old, with an average age of more than 50 years. Based on the input of teachers, parents, administrators, and state-certified building inspectors, and considering the research into the importance of school facilities conditions to the academic success of our students, we have updated our Facilities Master Plan and School Facilities Needs Analysis. The District has explored all possible sources of funding to complete the facilities projects necessary and has determined that bond funding would be necessary in order to address all of the facilities project needs. 



     
    Quick Summary / Abstract:

    The Pleasant Valley School District has urgent needs regarding the repair and modernization of facilities.  The District has gathered input from teachers, parents, administrators, students, and state-certified building inspectors as to the importance of school facilities regarding student learning. Sources of funding have been explored to complete much needed projects. It has been determined the passage of a bond to ensure funding is necessary to address the District's facility needs. Resolution Number 18-03 calls for an election within the District to approve school bonds, request the Ventura County Registrar of Voters to conduct the election on behalf of the District, and authorizes the preparation of election materials including a ballot argument and tax rate statement, to be included in the ballot pamphlet. Staff recommends the Board approve Resolution Number 18-03. 





    Financial Impact:

    Approval of Resolution 18-03 would call for an election within the District, and the District would be responsible to the County Registrar for costs associated with this election. Pursuant to state law, no district funds would be used for campaign purposes.

    The passage of a bond would have a significant fiscal impact on the District.


    Attachments:
    Resolution Number 18-03

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    Measure C Resolution

    RESOLUTION NUMBER 18-03

    RESOLUTION OF THE BOARD OF TRUSTEES OF THE
    PLEASANT VALLEY SCHOOL DISTRICT ORDERING AN ELECTION TO AUTHORIZE THE ISSUANCE OF SCHOOL BONDS, ESTABLISHING SPECIFICATIONS OF THE ELECTION ORDER, AND REQUESTING CONSOLIDATION WITH OTHER ELECTIONS OCCURRING
    ON JUNE 5, 2018

    WHEREAS, the Pleasant Valley School District (the "District") in Ventura 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 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 provide said facilities for its present and future students; and

    WHEREAS, the Board of Trustees of the District (the "Board") has determined that it is necessary to address the foregoing concerns, among others, to ensure that its schools are upgraded, repaired, improved and equipped; and

    WHEREAS, on November 7, 2000, the voters of the State of California approved Proposition 39 ("Proposition 39"), which amended Articles XIIIA of the California Constitution ("Article XIIIA") to allow for the levy of ad valorem property taxes for the payment of bonded indebtedness of a school district approved by at least 55 percent of the voters voting on such proposition; and

    WHEREAS, upon the passage of Proposition 39, the Strict Accountability in Local School Construction Bond Act of 2000, being California Education Code Section 15264 and following (the "Act"), became operative; and

    WHEREAS, in order to address the facilities needs of the District as described herein, in the judgment of the Board, it is advisable to call an election pursuant to the Act to submit to the electors of the District the question whether bonds of the District shall be issued and sold pursuant to the authority of Article XVI Section 18 of the California Constitution and Article XIIIA (together with the Act, the "Law") for the purposes authorized by the Law and as described in Appendix A hereto (the "Full Text of Bond Measure"); and

    WHEREAS, under the Act, the election may be ordered at a primary or general election, a regularly scheduled local election at which all of the electors of the District are entitled to vote, or a statewide special election, upon a two-thirds vote of the Board; and

    WHEREAS, the Board desires to call an election in the District pursuant to the Law on June 5, 2018, which is the date of the statewide primary election, and pursuant to Education Code Section 15121 and Elections Code Section 10400 and following, to -2- request consolidation with any and all other elections held in the District on such date, and to request the Ventura County Registrar of Voters (the "County Registrar") to perform election services for the District; and

    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

    NOW, THEREFORE, THE BOARD OF TRUSTEES OF THE PLEASANT VALLEY 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 the maximum principal amount of $119.0 million for the purposes described in the ballot measure approved under Section 4 and attached hereto as Appendix A (Full Text of Bond Measure) and Appendix B (Abbreviated Text of Bond Measure), 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, a full copy of which is attached hereto as Appendix A and marked "Appendix A – Full Text of Bond Measure" (the "Full Text of the Measure"), containing the question of whether the District shall issue general obligation 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 BOND 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 by the County elections official. 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 and is marked as "Appendix B – Abbreviated Form of Bond Measure." The President of the Board and the Superintendent are hereby separately authorized and directed to make any changes to this resolution or the text of the measure as described herein to conform to any requirements of the Law or the County Registrar.

    Section 5. Authority for Election. The authority for ordering the election is contained in Section 15264 et. seq. of the Education Code, Article XVI Section 18(b) of the California Constitution and 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.

    -3-

    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 Article XIII A, Section 1(b)(3) 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.

    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 percent 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. State Matching Funds. The Board hereby finds that some of the projects identified on the Full Text of Measure will require state matching funds for completion. As such, the statement required by Education Code Section 15122.5 has been included in the Full Text of 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 Ventura County Superintendent of Schools, (2) the County Registrar, and (3) the Ventura County Clerk of the Board of Supervisors (the "Clerk of the Board") for purposes of consolidation pursuant to Elections Code Section 10403. The Resolution shall be received by the County Registrar and the Clerk of the Board 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.

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    Section 10. Consolidation of Election; Request to Provide Services. The County Registrar and the Ventura County Board of Supervisors are hereby requested to consolidate the election ordered hereby with any and all other elections to be held on June 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 Ventura 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 Ventura 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. Approval of 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 separately authorized and directed to execute the tax rate statement, and to file said Statement with the County Registrar, in accordance with Section 9 hereof.

    Section 12. 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 13. Maturity Limit of Bonds. The Bonds may be issued in one or more 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. Official Actions. The President of the Board and the Superintendent 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 15. Effective Date. This resolution shall take effect on and after its adoption.

    * * * * * * * *

    -5-

    The foregoing Resolution was adopted by the Board of Trustees of the Pleasant Valley School District of Ventura County, being the Board authorized by law to make the designations therein contained by the following vote, on _________, 2018.

    Adopted by the following votes: [2/3 of Board required for approval]

    AYES:

    NOES:

    ABSENT:

    ABSTAIN:

    President of the Board

    Attest:

    Clerk/Secretary of the Board

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