presents
Voter’s Edge California
Conozca la información antes de votar.
Presentado por
MapLight
League of Women Voters of California Education Fund
November 6, 2018 — Elección General de California
Distrito especial

South Bay Union School District
Measure NN Bond Measure - 55% Approval Required

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Resultados electorales

Se aprueba

12,464 votos si (68.2%)

5,810 votos no (31.8%)

100% de distritos activos (37/37).

19,927 boletas electorales serán contadas.

To improve access to preschool education by rebuilding and increasing capacity at VIP Village Preschool, including constructing new classrooms and school facilities, and renovating existing restrooms, shall South Bay Union School District issue $18 million in general obligation bond at legal rates, under a plan that will not increase exiting tax rates with an estimated levy of 2 cents per $100 of assessed valuation (averaging $1.5 million annually through 2042), independent taxpayer oversight and annual audits?

¿Qué es esta propuesta?

Información básica sobre la iniciativa de ley — Información oficial sobre esta iniciativa

Un voto por el SÍ significa

A "YES" vote is a vote in favor of authorizing the District to issue and sell $18,000,000 in general obligation funds.

Un voto por el NO significa

A "NO" vote is a vote against authorizing the District to issue and sell $18,000,000 in general obligation funds.

Análisis del analista legislativo / Proposal

San Diego County Counsel

This measure was placed on the ballot by the governing board of the South Bay Union School District ("District"). This measure, if approved by 55% of the votes cast on the measure, will authorize the District to issue and sell $18,000,000 in general obligation bonds. The sale of these bonds by the District is for the purpose of raising money for the District, and represents a debt of the District. In exchange for the money received from bondholders, the District promises to pay the bondholders an amount of interest for a certain period of time, and to repay the bonds on the expiration date. 

Voter approval of this measure will also authorize an annual tax to be levied upon the taxable property within the district. The purpose of this tax is to generate sufficient revenue to pay interest on the bonds as it becomes due and to provide a fund for payment of the principal on or before maturity.

Proceeds from the sale of bonds authorized by this measure may be used by the District for the construction, reconstruction, rehabilitation or replacement of school facilities, including the furnishing and equipping of school facilities, or the acquisition or lease of real property for school facilities.

The interest rate on any bond, which is established at the time of bond issuance, could not exceed 12% per annum. The final maturity date of any bond could be no later than 40 years after the date the bonds are issued, as determined by the District.

The tax authorized by this measure is consistent with the requirements of the California Constitution. The California Constitution permits property taxes, above the standard 1% limitation, to be levied upon real property to pay the interest and redemption charges on any bonded indebtedness for, among other things, the construction, reconstruction, rehabilitation, or replacement of school facilities, including the furnishing and equipping of school facilities, when approved by 55% of the voters if:

(1) the proceeds from the sale of the bonds are used only for the purposes specified,
(2) the District evaluates safety, class size reduction, and information technology needs to approve a list of specific projects to be funded,
(3) the District conducts an annual, independent performance audit to ensure funds have been expended on the specific projects listed, and
(4) the District conducts an annual, independent financial audit of bond proceeds.

Additionally, if the bond measure is approved, state law requires the District to establish an independent citizens' oversight committee. The District has made this ballot measure subject to these legal requirements.

Approval of this measure does not guarantee that the specific projects listed by the District will be funded by the sale of the bonds.

A "YES" vote is a vote in favor of authorizing the District to issue and sell $18,000,000 in general obligation funds.

A "NO" vote is a vote against authorizing the District to issue and sell $18,000,000 in general obligation funds.

Tax rate

Assistant Superintendent of Business Services, South Bay Union School District

TAX RATE STATEMENT
REGARDING PROPOSED
$18,000,000
SOUTH BAY UNION SCHOOL DISTRICT
GENERAL OBLIGATION BONDS

An election will be held in the South Bay Union School District (the “District”) on November 6, 2018, to authorize the sale of up to $18 million in bonds of the District to finance improvements to educational 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. 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 1.968 cents per $100 of assessed valuation (or $19.68 per $100,000 of assessed value). The final fiscal year in which it is anticipated that the tax will be collected is 2042-43.

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 2 cents per $100 of assessed valuation (or $20 per $100,000 of assessed value). It is estimated that such rate would be levied starting in fiscal year 2019-20 and following.

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 $31 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 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: Abdollah Saadat
Assistant Superintendent of Business Services
South Bay Union School District

Published Arguments — Arguments for and against the ballot measure

Argumento A FAVOR

ARGUMENT IN FAVOR OF MEASURE NN

Vote YES on Measure NN!

Without increasing current tax rates, your YES Vote on Measure NN will allow the South Bay Union School District to repair and protect our community’s most valuable asset – our local public schools.

Measure NN will authorize $18 million of locally-controlled funding for the renovation and rebuilding of VIP Village Preschool.

These funds can only be used to improve VIP Village Preschool and cannot be taken by the state and spent elsewhere. The improvements include:

  • Upgrading building security, fencing and communication systems to improve school site safety, limit campus access and increase overall student security
  • Constructing new classrooms
  • Renovating existing restroom facilities
  • Increasing student capacity

Measure NN will also protect taxpayers by:

  • Extending rather than raising current tax rates paid by District property owners
  • Qualifying our project for State matching fund eligibility
  • Prohibiting funds from going to administrators' salaries, pensions or benefits
  • Imposing tough legal safeguards requiring all monies to be spent on our local schools

Vote YES to improve early childhood education that prepares our children for life-long academic success.

Vote YES for independent taxpayer oversight and independent financial audits.

Vote YES to build safer schools, improve student achievement and protect your property values.

Please join business leaders, teachers, parents, guardians, grandparents and neighbors in voting YES on Measure NN.

Penny Adler
League of Women Voters San Diego

Julie Castillo-Martinez
VIP Village Parent

Robert Gunthorp
CEO, Onager Corp

Bethany D Case
Business Owner and Parent

Haney Hong
President & CEO,
San Diego County Taxpayers Association

— San Diego County Registrar of Voters

Argumento EN CONTRA

ARGUMENT AGAINST MEASURE NN

No argument against the measure was filed in the office of the Registrar of Voters.

— San Diego County Registrar of Voters

Leer la legislación propuesta

Legislación propuesta

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The full text of this measure was entered into Voter's Edge on 10/24/2018 by a League of Women Voters volunteer, based on a PDF version of a sample ballot prepared by the San Diego County Registrar of Voters: https://www2.sdcounty.ca.gov/rov/Sample_Ballots/Eng/SB-ENG-471.pdf

To find your own sample ballot version, containing all the candidates and measures on your own ballot, please use the ROV's sample ballot look-up tool at https://www2.sdcounty.ca.gov/rov/Eng/ballot.asp .

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FULL TEXT OF BOND MEASURE NN

INTRODUCTION

“To improve access to preschool education by rebuilding and increasing capacity at VIP Village Preschool, including constructing new classrooms and school facilities, and renovating existing restrooms, shall South Bay Union School District issue $18 million in general obligation bonds at legal rates, under a plan that will not increase existing tax rates with an estimated levy of 2 cents per $100 of assessed valuation (averaging $1.5 million annually through 2042), independent taxpayer oversight and annual audits?”

BOND AUTHORIZATION

By approval of this measure by at least 55 percent of the registered voters voting on the measure, the South Bay Union School District will be authorized to issue and sell bonds of up to $18 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.

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.

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 San Diego 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. 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. When issued, general obligation bonds are repaid by ad valorem property taxes levied and collected on taxable property in the District. The measure presented to District voters on the Ballot, as set forth above under the heading “INTRODUCTION”, includes information regarding the amount of revenues expected to be raised annually to repay 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 a number of 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 information currently available to the District and its current expectations, such estimates and approximations are not binding upon the District.

BOND PROJECT LIST

Bond proceeds will be expended to construct, modernize, replace, renovate, equip, furnish, rebuild and otherwise improve District facilities as described below. The specific school facilities projects which are described below include all related and incidental costs, including costs of design, engineering, architect and other professional services, demolition, temporary housing, site preparation, utilities, landscaping and other incidental costs, and construction management. Bond proceeds may also be expended to acquire and install furniture, fixtures and equipment in classrooms and at the site. The District is authorized to demolish and rebuild any portion of the project if it is deemed more economical to do so rather than renovating existing facilities. The District may alter the scope and nature of any of the specific projects that are described below as required by conditions that arise over time.

Whenever specific items are included in the following list, they are presented to provide examples and are not intended to limit the generality of the broader description of authorized projects. The order in which particular projects are listed is not intended to indicate priority for funding or completion. The itemization of projects in the list below does not guarantee that all such projects will be undertaken. The ability of the District to undertake and complete the listed projects is subject to the adequacy and availability of sufficient funding sources.

RECONSTRUCTION OF VIP VILLAGE PRESCHOOL

Whenever specific items are included in the following list, they are presented to provide an example and are not intended to limit the generality of the broader description of authorized projects.

Bond proceeds will be expended to construct, renovate, rebuild, acquire, equip and refurnish VIP Village Preschool including:

  • Construct new classrooms
  • Install fencing, security, and fire and life safety systems and equipment
  • Renovate and repair existing restroom facilities
  • Replace, repair, and install utilities including water, sewer, electrical and telecommunication on the site
  • Construct, furnish and equip classroom, multi-purpose, and support buildings
  • Site improvements including play areas, landscape, hardscape, and parking

¿Quién está a favor y en contra de esta iniciativa de ley?

Sí por Measure NN

Organizaciónes (1)

Funcionarios electos y designados (0)
No por Measure NN

Organizaciónes (1)

Funcionarios electos y designados (0)

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