League of Women Voters of California
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Measure H Renovation and Modernization of School Buildings and Grounds Jefferson Elementary School District Bond - 2/3 Vote Required 3,324 / 68.0% Yes votes ...... 1,567 / 32.0% No votes
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Index of all Measures |
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Information shown below: Yes/No Meaning | Impartial Analysis | Arguments | Tax Rate Statement | | |||||
"To provide elementary school students with warm, safe, dry classrooms that are conducive to learning, by renovating and modernizing the school buildings in the Jefferson Elementary School District, including replacing old, inefficient heating and ventilating systems, aging plumbing and restrooms, out-dated electrical systems, and other acquisition or construction of or improvements to school buildings and grounds, shall the Jefferson Elementary School District issue $52,000,000 in bonds at interest rates within the legal limits?"
This measure would authorize the Jefferson Elementary School District to issue bonds in an amount not to exceed $52 million. The bonds will have an interest rate not to exceed the legal maximum and shall mature in no more than 25 years. The Board of Trustees has listed the specified purposes of the bonds to be: renovating and modernizing classrooms and school buildings; replacing heating and ventilation systems, plumbing, restrooms, electrical systems; other acquisition or construction of or improvements to school buildings and grounds.
A "yes" vote on this measure would authorize Jefferson Elementary School District to issue bonds in an amount not to exceed $52 million for the specified purposes of renovating and modernizing classrooms and school buildings; replacing heating and ventilation systems, plumbing, restrooms, electrical systems; other acquisition or construction of or improvements to school buildings and grounds.
A "no" vote would prevent Jefferson Elementary School District from issuing bonds of up to $52 million. This measure passes if two-thirds (2/3) of those voting on the measure vote "yes."
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Events
Partisan Information
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Arguments For Measure H | Arguments Against Measure H | ||
All but one of the schools in the Jefferson Elementary School District are old. They need rehabilitation. Sixteen of the seventeen schools serving elementary and intermediate students in Daly City and Colma have not been renovated since they were built. Measure H will raise the funds needed to renovate local schools so they can continue to serve the community.
The facts are clear:
All of these projects have been reviewed in detail by a committee of private citizens - most of whom do not have children in school. They strongly recommended the district place Measure H on the November ballot. The District also has a plan to maintain it's renovated school. A portion of each year's budget will be allocated for maintenance. Measure H raises $52 million. None of these funds can be spent on administrator or teacher salaries. The cost is reasonable. If approved by two-thirds majority, Measure H will cost homeowners a yearly average of $39.00 per $100,000.00 of assessed -- not market -- value. As Measure H funds are spent, a community oversight community will monitor all projects and expenditures. Measure H is an investment in our schools and our community. Join us in voting yes on Measure H.
/s/ Albert M. Teglia
/s/ Marta Inés Bookbinder
/s/ Nattie Fong
/s/ Judith L. Dávila
/s/ Carol L. Klatt
$28,107,294 Property taxes given to the district more than doubled: from $11.5 million to $27.5 million. Enough is enough! It's time to give home owners and renters a break. (Renters can't even deduct the taxes they pay through their rent.) After receiving almost $270 million during the last 8 years, the school's faculty should be happy with good wages, and the school's buildings should be in sparkling shape. If they're not, it's time to take a look at the management. The taxpayers have done their part. - And there's not a thing on the district's wish list that can't be done with regular property taxes, careful spending, and a little bit of patience. Note: Bond pushers always understate the yearly assessment by averaging tax rates from 25 years in the future. (Tax rates decline in future years in direct proportion to increases in assessed valuations.) In practical terms, the average household would have to pay $3,500 for this bond, over the next 25 years, no matter how you slice it.
/s/ John J. Hickey
/s/ Christopher VA Schmidt
| A Question: Have you ever thought the following?
"I wish my parents had borrowed more money when I was a kid - and left their debts for me to pay off." Of course not! - but many or most politicians seek to do exactly that with bonds: Borrow now and pay later. It's only "other people's money". But we do not need to borrow money to fund our schools. Boatloads of Money: Combine the following:
This is a vote on decades of future interest payments, adding over $40 million to the original cost of the bond. No, thanks. The Bottom Line: Principal and interest payments would total over $92 million. That's over $3,500 in new taxes per household, over the next 25 years - on top of what you pay now.
/s/ Robert Fliegler
/s/ John J. Hickey
/s/ Christopher VA Schmidt
Join us in making an investment in our schools - and in the value of our homes - by voting yes on Measure H.
/s/ Betty R. Schultz
/s/ Alfred O. Belotz
/s/ Frossanna "Fro" Vallerga
/s/ Michael P. Guingona
/s/ Michael Nevin
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Tax Rate Statement from Robert J. Carter, Superintendent, Jefferson School District |
An election will be held in the Jefferson School District (the "District") on November 6, 2001, to authorize the sale of up to $52,000,000 in general obligation bonds of the District to finance the acquisition and improvement of real property for school purposes. It is expected that bonds will be issued in series over time. If such bonds are authorized and sold, the debt service on the bond issue (for all series combined including both principal and interest) will be funded by proceeds of taxes levied upon 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 represents the District's best estimates and is based upon actual assessed valuations available at the time of this election and projections of future assessed valuations based upon experience within the District and upon other demonstrable factors. These estimates assume the entire bond debt service will be repaid from property tax revenues.
1. The best estimate of the tax rate that will 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 3.9˘ per $100 of assessed valuation (or, stated another way, $39 per $100,000 of assessed valuation) in the fiscal year 2002/03.
2. The best estimate of the tax rate that will be required to be levied to fund the bond issue during the first fiscal year after the sale of the last series of bonds and an estimate of the year in which that rate will apply is 4.8˘ per $100 of assessed valuation (or, stated another way, $48 per $100,000 of assessed valuation) in the fiscal year 2006/07.
3. The best estimate of the highest tax rate that will be required to be levied to fund the bond issue and an estimate of the year in which that rate will apply is 4.8˘ per $100 of assessed valuation (or, stated another way, $48 per $100,000 of assessed valuation) for the fiscal year 2006/07.
4. The best estimate of the average tax rate that will be required to be levied to fund the bond issue over its entire term (estimated to be from 2002/03 through 2029/30) is 3.9˘ per $100 of assessed valuation (or, stated another way, $39 per $100,000 of assessed valuation). Attention to all voters is directed to the fact that the foregoing information represents the District's best estimates and is based upon certain projections and estimates. These estimates are not binding upon the District. Variations in the timing of bond sales, the amount of bonds sold at each bond sale, the structure of repayment for each series of bonds, future assessed valuations, and market interest rates at the time of each sale will affect these estimates. The actual date of the sales of said bonds, the amount sold on any given date, and the structure of repayment will be governed by the needs of the District and other factors (including tax rate impact). 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. |