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Measure H Construct, acquire, and renovate facilities Los Altos School District Bonds 12,000 / 75.8% Yes votes ...... 3,832 / 24.2% No votes
See Also:
Index of all Measures |
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| Infomation shown below: Impartial Analysis | Arguments | Tax Rate Statement | | |||||||||
To relieve overcrowding and to repair and rehabilitate aging local
schools, shall the Los Altos School District issue bonds to construct
and acquire additional classrooms and school facilities as needed,
and to renovate existing schools, including upgrading electrical wiring for
safety and capacity, renovating aged plumbing systems and upgrading
restrooms, in a total amount not to exceed $94.7 million at an interest rate
within the legal limit?
The Los Altos School District proposes to issue bonds not to exceed $94.7 million with maturity not to exceed twenty-five years for bonds issued pursuant to Education Code section 15100, with annual interest not to exceed 12% per annum. The bonds would be repaid through a property tax based upon the taxable value of real property and the improvements thereon. A "yes" vote is a vote to authorize the issuance and sale of the general obligation bonds not to exceed the principal amount of $94,700,000.00. The funds derived from the sale of the bonds would be expended to construct and acquire additional classrooms and school facilities as needed, and to renovate existing schools, including upgrading electrical wiring for safety and capacity, renovating aged plumbing systems and upgrading restrooms. A "no" vote is a vote not to authorize the issuance and sale of said bonds.
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News and Analysis Los Altos Town Crier
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| Arguments For Measure H | ||||||||||
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The Los Altos Elementary School District is
one of California's best managed school districts. Los Altos children are
ranked among the top in reading and mathematics statewide. Our schools
have received state and national recognition as distinguished schools.
The school district wisely invests its resources to improve classroom programs and keep quality teachers and staff. While other districts have cut educational programs and services, support from parents and community has allowed Los Altos schools to remain among the best. Despite ongoing maintenance, these aging schools need significant repair. Heating and ventilation systems don't work properly, electrical systems are inadequate (many classrooms have only one or two working outlets), roofs leak, and bathrooms need new plumbing and fixtures. Schools need earthquake safety upgrades and additional classrooms to relieve overcrowding. Science classrooms are inadequate for proper instruction. Class size reduction and increased enrollment have necessitated the need for over 90 portable classrooms on school sites. This past year a comprehensive study was conducted of each school to determine the most critically needed renovations. Only those essential to maintain quality educational programs or meet safety and health standards are included in Measure H. All money raised by Measure H is tax deductible and will stay in our community to benefit local children. Measure H funds will be held in a separate facilities improvement account and be subject to annual audit. No money will be spent on salaries or administrators.
(No arguments against Measure H were submitted) |
| Tax Rate Statement |
| An election will be held in the Los Altos Elementary School District
(the "District') on November 3, 1998, to authorize the sale of up to $94,700,000
in general obligation bonds of the District to finance the acquisition
and improvement of real property for school purposes. It is expected that
bonds would be issued in series over time. If such bonds are authorized
and sold, the principal thereof and interest thereon will be payable from
the proceeds of tax levies made upon the taxable property in the District.
The following information regarding tax rates is given to comply with Sections
9400 et seq. of the California Elections Code. Such information is based
upon the best estimates and projections presently available from official
sources, upon
experience within the District, and upon other demonstrable factors.
Based upon the foregoing and projections of the District's assessed valuation, and assuming the entire debt service will be amortized through property taxation: 1. The best estimate of the tax rate that would be required to be levied to fund the bond issue during the first fiscal year after the sale of the first series of bonds is 5.40 per $100 of assessed valuation (or, stated another way, 54.00 per $100,000 of assessed valuation) in the fiscal year 1999/00.
3. The best estimate of the highest tax rate that would be required to be levied to fund the bond issue and an estimate of the year in which that rate will apply is 6.00 per $100 of assessed valuation (or, stated another way, $60.00 per $100,000 of assessed valuation) for the fiscal year 2003/04.
4. The best estimate of the average tax rate that would be required to be levied to fund the bond issue and an estimate of the years in which a tax rate would be required to be levied to fund the bond issue (the years over which the tax rate would be averaged) is 5.40 per $100 of assessed valuation (or, stated another way, $54.00 per $100,000 of assessed valuation) for the fiscal years 1999/00 through 2026/27.Attention to all voters is directed to the fact that the foregoing information is based upon projections and estimates only, which are not binding upon the District. Such projections and estimates may vary due to variations in timing of bond sales, the amount of bonds sold at each bond sale, market interest rates at the time of each bond sale, and actual assessed valuation over the term of repayment of the bonds. The actual date of the sales of said bonds and the amount sold on any given date will be governed by the needs of the District and other factors. The actual interest rates at which the bonds will be sold, which in any event will not exceed the maximum permitted by law, will depend upon the market for the bonds at the time of each sale. Actual assessed valuation in future years will depend upon the value of property within the District as determined in the assessment and the equalization process. Hence, the actual tax rates and the years in which such rates are applicable may vary from those presently estimated above.
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