League of Women Voters of California Education Fund
	Los Angeles County, CA June 3, 2014 Election
	Measure CC School Improvement Bond Culver City Unified School District School Bond - 55% Approval Required Pass: 4,706 / 76.28% Yes votes ...... 1,463 / 23.72% No votes See Also: Index of all Measures

Arguments For Measure CC

Vote Yes on Measure CC! The Culver City Unified School District is committed to providing all students with a high-quality education in a safe learning environment. To provide our students and teachers with clean, safe, and modern classrooms and school facilities, it's necessary to make vital repairs to our schools, upgrade technology, and modernize classrooms and facilities. Measure CC will fund: Seismic upgrades to schools and classrooms to reduce danger from earthquakes Removal of any asbestos, fungus, mold and other hazardous materials from school buildings Upgrades to fire alarm and security systems to improve campus safety Repair and replace of aging roofs and damaged ceilings Installation and upgrade of electrical wiring/power and other infrastructure improvements to accommodate technology and computers in classrooms, libraries, and science labs Replacement of outdated heating, ventilation, and air conditioning equipment with modern energy-efficient systems, resulting in millions of dollars in cost savings Repair and upgrade of aging restrooms and plumbing to meet current state/federal standards Measure CC funds remain in our Community: All money raised by Measure CC will stay within the Culver City School District to benefit our children, neighborhoods and property values. Taxpayer Accountability: By law Measure CC funds can only be used for voter approved school repairs, upgrades, construction, and equipment. A Citizens Oversight Committee will ensure Measure CC funds are ONLY used for the work spelled out in the ballot. Bond funds are subject to an independent performance audit each year and an annual audit by a Certified Public Accounting firm, which must be made public for transparency. Culver City Unified School District students deserve your vote: The Culver City Unified School District has served the education needs of local students very well for decades. Approval of Measure CC is an investment in our children's future. On June 3, 2014, join parents, teachers, community members, business leaders and senior citizens in voting Yes on Measure CC. Visit http://www.CulverCityKIDS.org for more information. MADELINE M. EHRLICH Retired Registered Nurse JODY REICHEL Culver City Council of PTAs, President MICHAEL HAMILL Investment Banker & Chief Financial Officer DAVID MIELKE President: Culver City Federation of Teachers HEATHER COOMBS PEREZ Realtor (No arguments against Measure CC were submitted)

Tax Rate Statement from DAVID LAROSE, Superintendent, Culver City Unified School District

An election will be held in the Culver City Unified School District (the "District") on June 3, 2014, to authorize the sale of up to $106,000,000 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 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 tax rate which would be required to be levied to fund this bond issue during the first fiscal year after the sale of the first series of bonds, based on a projection of assessed valuations available at the time of filing of this statement, is $0.04800 per $100 of assessed valuation (or $48.00 per $100,000 of assessed value) for fiscal year 2015-16. 2. The best estimate of the tax rate which would be required to be levied to fund this bond issue during the first fiscal year after the sale of the last series of bonds, based on a projection of assessed valuations available at the time of filing of this statement, is $0.04800 per $100 of assessed valuation (or $48.00 per $100,000 of assessed value) for fiscal year 2024-25. 3. 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 $0.04800 per $100 of assessed valuation (or $48.00 per $100,000 of assessed value), which is projected to be the same in every fiscal year that the bonds remain outstanding. Voters should note the estimated tax rate is based on the ASSESSED VALUE of taxable property on the County's official tax rolls, not on the property's market value. 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 are not binding upon the District. The actual tax rates and the years in which they will apply may vary from those presently estimated, due to variations from these estimates in the timing of bond sales, the amount of bonds sold and market interest rates at the time of each sale, and actual assessed valuations over the term of repayment of the bonds. The date of sale and the amount of bonds sold at any given time will be determined by the District based on the need for project funds and other factors. The actual interest rates at which the bonds will be sold will depend on 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.