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Cajon Valley Union School District
55% Approval Required
Fail: 13382 / 49.08% Yes votes ...... 13884 / 50.92% No votes
Index of all Propositions
|Information shown below: Summary | Yes/No Meaning | Arguments | Tax Rate Statement | Full Text|
To increase student access to computers; maintain and upgrade educational technology; keep pace with 21st century technological innovations; implement statewide technology requirements for testing and learning; and significantly reduce borrowing costs, shall Cajon Valley Union School District issue $20,000,000 of short-term bonds with the interest rates at or below the legal limit, independent citizen oversight, and no money for administrator/teacher salaries, so long as all funds are spent locally and cannot be taken by the State?
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 to modernize, replace, renovate, acquire, install, equip and otherwise improve educational technology equipment projects and supporting systems and software within the District.
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 5 years after the date the bonds are issued as determined by the District, and the bonds shall be issued as current interest bonds and not as capital appreciation bonds.
The tax authorized by this measure is consistent with the requirements of the California Constitution. The California Constitution permits property taxes, above the standard one percent (1%) limitation, to be levied upon real property to pay the interest and redemption charges on any bonded indebtedness for, inter alia, the 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,
If a 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 requirements.
Approval of this measure does not guarantee that the proposed projects in the District that are the subject of these bonds will be funded beyond the local revenues generated by this measure.
|Arguments For Proposition C||Arguments Against Proposition C|
|Measure C will allow the students of Cajon Valley's public schools to keep pace with rapidly
changing educational technology while saving taxpayers hundreds of thousands of dollars in
reduced borrowing costs.
In today's global economy, it is critical that our children learn how to use and master modern technology. However, statewide funding for classroom technology has simply failed to meet the educational needs of our children.
Measure C solves this shortfall by providing a locally controlled source of technology funding, allowing our students to compete in today's marketplace and become the innovators of the economy of tomorrow.
In addition, Measure C makes financial sense. By using short-term, low-interest bonds, funds that would have been used to make interest payments will now be available for local school technology projects.
Measure C improves school technology by:
VOTE YES ON MEASURE C.
Multiply these all by five if you have a home assessed at $500k. You are already paying over $1,000 a year for these bonds. Where has the money gone?
Cajon Valley taxpayers are currently on the hook for Cajon Valley School District bond debt to the tune of over $127 MILLION, according to page A-13 of CVUSD's May 2014 bond offering statement.
Using bond proceeds to pay for technology items that have a useful life of only a few years is bad policy. Bonds should be used for buildings and facilities with long lifespans―not short term purchases of laptops, projectors and other technology items proposed by CVUSD!
Don't be deceived. California Taxpayers Action Network urges you to Vote "No" on Measure C.
CALIFORNIA TAXPAYERS ACTION NETWORK (CALTAN)
MEASURE C IS A BLANK CHECK TO CONTINUE WASTEFUL SPENDING
Cajon Valley Unified School District (CVUSD) wasted prior bond funds awarding tens of millions in construction contracts without competitive bidding. Now they are asking for more. Who care...the taxpayers are paying for it!!!
The Voice of San Diego's February 19, 2013 article, "School Bonds, Big Donor Often Win Big Contracts" reported "West Coast Air Conditioning, donated $10,000 to [CVUSD]'s Proposition D campaign in 2007. [The owner's] family trust donated another $20,000 on the same day. West Coast Air was subsequently awarded a lease-leaseback to build the Cajon Valley Middle School, the largest project built with Proposition D dollars."
Campaign finance disclosures and recent news articles show bond underwriters, consultants, architects, contractors and lawyers who receive bond proceeds are the biggest contributors and promoters of school bonds and are using well-meaning school officials as their profit making puppets. Like pigs at an empty trough they want more!
Director, CA Taxpayer Action Network
Like most of our friends and neighbors, we believe the future of our country lies in the education of our children, especially their ability to use modern technology.
But as we ask our students to push themselves towards higher and higher academic achievements, there are some who want to give our schools less and less in order to achieve their own political agendas.
Here are the facts:
Vote YES on Measure C!
|Tax Rate Statement|
|An election will be held in Cajon Valley Union School District (the "District") on November 4,
2014 to authorize the sale of $20,000,000 in general obligation bonds. The following information is submitted in compliance with Sections 9400-9404 of the California Elections Code.
1. The best estimate of the tax rate that would be required 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 $.00998 per $100 ($9.98 per $100,000) of assessed valuation in fiscal year 2015-16.
2. The best estimate of the tax rate that would be required 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 $.01883 per $100 ($18.83 per $100,000) of assessed valuation in fiscal year 2021-22.
3. The best estimate of the highest tax rate that would be required to fund this bond issue, based on estimated assessed valuations available at the time of filing this statement, is $.01883 per $100 ($18.83 per $100,000) of assessed valuation.
4. The best estimate of the average tax rate required to fund this bond issue, based on a projection of assessed valuations available at the time of filing of this statement, is $.01548 per $100 ($15.48 per $100,000) of assessed valuation.
These estimates are based on projections derived from information obtained from official sources. The actual tax rates and the years in which they will apply may vary depending on the timing of bond sales, the amount of bonds sold at each sale and actual increases in assessed valuations. The timing of the bond sales and the amount of bonds sold at any given time will be determined by the needs of the District. Actual assessed valuations will depend upon the amount and value of taxable property within the District as determined in the assessment and the equalization process.
Dated: May 5, 2014
|Full Text of Proposition C|
By approval of this measure by at least 55 percent of the registered voters voting on the measure, the District will be authorized to issue and sell bonds of up to $20,000,000 in aggregated principal at interest rates not in excess of the legal limit and to provide financing for the specific school facility technology projects listed in the Bond Project List described below, subject to all the accountability requirements specified below.
The District intends to use the Bonds to provide for an ongoing source of funding for the evolving educational technology needs of its students and staff. In addition, the District intends to match as closely as possible the term of each series of Bonds to the useful life of the technology equipment being financed. As such, the District anticipates that the amortization (or repayment period) of each series of Bonds will be approximately three years and will in no case be in excess of five years. Based on current assumptions, the District estimates that the proposed Bond will provide for its technological funding needs for approximately 8 years into the future.
All Bonds will be sold as current interest bonds and the use of capital appreciation bonds will not be permitted.
The provisions in this section are specifically included in this measure so that voters and taxpayers in the District may be assured that their money will be spent wisely. Expenditures to address specific technology equipment 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 technology equipment needs of the District and has determined which projects to finance from a local bond at this time. 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. The School Board has an established Independent Citizens' Oversight Committee under Education Code Section 15278 and will meet frequently enough to ensure that bond proceeds are expended only on the bond projects listed below.
Performance Audits. The School Board shall conduct an annual, independent performance audit to ensure that the bond proceeds have been expended only on the school technology equipment projects listed below. After the initial bond sale and prior to the second bond sale, the established technology committee composed of representatives from the Board of Trustees and other key stakeholders will review the technology program implementation and recommend potential revisions.
Financial Audits. The School Board shall conduct an annual, independent financial audit of the bond proceeds until all of those proceeds have been spent for the school technology equipment projects listed below.
No Teacher/Administrator Salaries. Bond proceeds may not be expended for school operating expenses, including administrator and teacher salaries, which are not attributable to technology projects.
BOND PROJECT LIST
Scope of Projects. Bond proceeds will be expended to modernize, replace, renovate, acquire, install, equip, furnish, and otherwise improve educational technology equipment projects and supporting systems and software within the District. Projects which are described below include all related and incidental costs, including their share of the costs of the election and bond issuance and costs of design, engineering, architect and other professional services, inspections, site preparation, utilities, and other planning, legal, accounting and similar costs, independent annual financial and performance audits, a customary contingency, and other costs incidental to and necessary for completion of the listed projects.
Bond proceeds may also be expended to acquire equipment in any classroom or other educational facility within the District.
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.
Specific educational technology projects shall include but not be limited to:
Devices and Technology Systems