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Expand and Repair Facilities
Mount San Jacinto Community College District
Bond Measure - 55% Approval Required
Pass: 76,993 / 58.82% Yes votes ...... 53,904 / 41.18% No votes
Index of all Measures
|Results as of November 21 7:51am, 100.00%% of Precincts Reporting (572/572)|
|Information shown below: Impartial Analysis | Arguments | Tax Rate Statement ||
To expand college buildings serving four-year university transfer, veterans' education, and career training, by expanding career/support facilities for veterans/military, ensuring buildings are accessible for the disabled, upgrading nursing, emergency responder, criminal justice, vocational job training classrooms, updating science labs, electrical systems, technology infrastructure, acquiring, constructing, and repairing classrooms, facilities, sites/equipment, shall Mt. San Jacinto Community College District issue $295,000,000 in bonds at legal rates with annual financial audits, citizens' oversight of funds, all funds remaining local?
This Measure was placed on the ballot by the Board of the above-identified District.
The Bonds would be used by the District to repair and upgrade campus facilities for career technical education, upgrade classrooms to support programs for veterans and active military personnel, repair and renovate infrastructure to allow access to the disabled, repair, update and modernize infrastructure, including technology, plumbing, electrical, parking and security. The Bonds would not be used to fund the salaries, pensions or benefits of any board members, administrator, and/or teachers or for other school operating expenses.
If Measure "AA" is approved, the Board of the District will appoint a citizens' oversight committee and conduct annual independent audits to assure that bond funds are spent only on 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, and for no other purposes.
An ad valorem tax would be levied and collected on property within the boundaries of the District to pay the principal and interest on the Bonds.
The Resolution provides that the maximum interest rate on the Bonds will not exceed the maximum interest rate permitted by the applicable laws of the State and the maximum term of the Bonds, or any series thereof, will not exceed 40 years.
Approval of Measure "AA" does not guarantee that the proposed project or projects in the Mt. San Jacinto Community College District that are the subject of the Bonds under Measure "AA" will be funded beyond the local revenues generated by Measure "AA". The District's proposal for the project or projects may assume the receipt of matching state funds, which could be subject to appropriation by the Legislature or approval of a statewide bond measure.
For this Measure to be approved fifty-five percent (55%) of qualified voters who vote on the Measure must vote yes.
By: Ronak N. Patel, Deputy County Counsel
|Arguments For Measure AA||Arguments Against Measure AA|
|In the last four years, the state has cut millions of dollars from Mt. San Jacinto Community College. We won't stand for this, and can't rely on Sacramento politicians to help our local colleges--vote YES on "AA"!
Do you think it's difficult to get a job in today's slowly recovering economy? We sure do! Vote YES on "AA" to expand essential job training and workforce preparation skills in nursing, science, technology, engineering and math to meet the needs of our local, regional employers. A skilled workforce helps attract more high paying jobs and businesses to our region.
YES on "AA" ensures that our tax dollars stay local to address our area's educational and job training needs. Sacramento is legally prohibited from taking Measure "AA" funds!
YES on "AA" helps provide job training and education for our returning military veterans. It is shameful how the federal government is treating our war veterans. Mt. San Jacinto College is a national leader in helping returning veterans reintegrate with their education and careers. It upgrades and expands veteran services and job training so returning veterans receive the support they need to complete their education and enter the civilian workforce.
YES on "AA" will:
Steven Beutz, Voter and Taxpayer
Martha L. Bridges, Community Advocate
Sheryl Ade, Former Wildomar City Councilmember
Gerard St. Marie
A vote in favor of this Controversial Bond Measure means Higher Taxes. Measure "AA" means that WE Assume the Obligation to Repay $Millions of Dollars in Debt issued on behalf of Mt. San Jacinto Community College + in addition to Interest and Debt Servicing + which makes Payback on Bonds as high as 11⁄2 to 2 times the Original Debt. So although MSJC will have roughly $300 $Million to Spend, the Money WE are Obligated to Repay could reach nearly $600 $Million + which Bottom Line remains Unknown because MSJC Neglects to Disclose specifics of this `Minor' detail. Bond issuers and Wall Street types are Salivating over Stuffing their pockets full of Your Cash.
Measure "AA" also means OUR Homes become Collateral for Repayment of these Bonds. Bond Holders gain a legal Right to Foreclose and Auction off OUR Homes to Secure Debt Payments in event of Default. So if You become short on Funds and choose "Extravagances" such as food, clothing, health care, rent, car payments or gasoline over Repaying MSJC's Bond, You will risk Foreclosure and having Your Home Sold off at a Public Auction to Repay Bonded Indebtedness.
Measure "AA" is swirling in Controversy even before ink dries on the ballots. The MSJC Board of Trustees could Not even reach a consensus on their Decision to load You Down with more Debt. The vote was 4-1, with Trustee Eugene Kadow voting NO on Bonds.
MSJC is among the Lowest performing Junior Colleges Statewide. They manage resources Poorly and have left $Millions in State Funding on the table by Failing to increase Class Sections. Now they want You to Backfill their Underperformance with Bonds + Adding ways for You to Lose your $Money and Possibly even Your Home. Enough is enough.
Please join US in voting NO on Measure "AA".
The fact is, in the last four years, the state has cut millions of dollars from Mt. San Jacinto College.
This is why the community is united behind Yes on "AA". Business leaders, veterans, city leaders, residents, taxpayers, teachers, students, and homeowners all support Measure "AA".
FACT: Measure "AA" is fiscally sound and has strict Fiscal Accountability requirements including an expanded Citizens Oversight Committee and annual financial audits ensuring money is spent as promised. NO money will go towards salaries or pensions.
FACT: Yes on "AA" expands essential job training and workforce preparation skills in nursing, science, technology, engineering and math to meet the needs of our local, regional employers. A skilled workforce helps attract more high paying jobs and businesses to our region!
FACT: Mt. San Jacinto College is recognized as one of only three California community colleges as a top serving military friendly college. Yes on "AA" helps provide job training and education for our returning military veterans.
Mt. San Jacinto College is recognized as one of the top community colleges in the country. The college is a national leader in helping returning veterans reintegrate with their education and careers. Join us in voting Yes on "AA" to upgrade and expand services and job training to veterans and others.
Our economic vitality, our kids' futures, and the quality of life in our region depend on you voting Yes on "AA".
For the facts, visit: http://www.msjc.edu.
Joan Sparkman, Southwest Healthcare Governing Board
|Tax Rate Statement from College Superintendent/President|
|An election will be held in the Mt. San Jacinto Community District (the "District") on November 4, 2014, to authorize the sale of up to $295,000,000 in bonds of the District to finance facilities as described in the proposition. If the bonds are approved, the District expects to issue the Bonds in multiple series over time. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property in the District. The following information is provided in compliance with Sections 9400 through 9404 of the California Elections Code.
1 . The best estimate of the tax 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 estimated assessed valuations available at the time of filing of this statement, is $0.01320 per $100 ($13.20 per $100,000) of assessed valuation in 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 estimated assessed valuations available at the time of filing of this statement, is $0.01320 per $100 ($13.20 per $100,000) of assessed valuation in 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 estimated assessed valuations available at the time of filing of this statement, is $0.01320 per $100 ($13.20 per $100,000) of assessed valuation, which is projected to be the same in every fiscal year that the bonds remain outstanding.
Voters should note that estimated tax rates are based on the ASSESSED VALUE of taxable property on the County's official tax rolls, not on the property's market value, which could be more or less than the assessed 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. Certain taxpayers may also be eligible to postpone payment of taxes. Property owners should consult their own property tax bills and tax advisors to determine their property's assessed value and any applicable tax exemptions.
Attention of all voters is directed to the fact that the foregoing information is based upon the District's 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 dates of sale and the amount of bonds sold at any given time will be determined by the District based on need for construction 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 each sale. Actual future assessed valuation 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: Roger W. Schultz, Ph.D. Superintendent/President