See Also: Index of all Measures

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 $.02776 per $100 ($27.76 per $100,000) of assessed valuation in fiscal year 2000-01.

2. 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 $.04436 per $100 ($44.36 per $100,000) of assessed valuation in fiscal year 2001-02.

3. 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 $.04436 per $100 ($44.36 per $100,000) of assessed valuation in fiscal year 2001-02.

4. The average tax rate that would be required to fund this bond issue, based on estimated assessed valuations available at the time of filing of this statement, is $.02527 per $100 ($25.27 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.

The proceeds from the sale of the bonds will be used to improve school facilities within the School District, including the repair and renovation of school buildings and grounds, the replacement of inadequate heating and ventilation systems, an increase in handicap access, and the provision of additional access for all students to classroom computers. The Magnolia School District and the Orange County Superintendent of Schools have called the election for the purpose of submitting the measure to the voters within the School District for adoption. If a two-thirds majority voting on the measure approve it, the School District may proceed to sell the bonds and levy the related taxes as set forth in the Tax Rate Statement.

Measure G makes financial sense.

As taxpayers, we all agree in the importance of our children's education and the value of quality schools. Measure G will:

Make the District eligible for over $10 million in State matching funds.

Make repairs now instead of putting them off into the future when they will only cost more, and
Be used only to improve our children's schools - not to pay

Measure G will repair our schools.

All schools in the District are over 35 years old and need major renovation. Measure G will:

Repair and upgrade every school in the District,
Upgrade classroom electrical systems to provide students

Repair and replace 35 to 40 year old plumbing and electrical systems,
Upgrade classroom communication systems for increased student safety,
Replace old playground equipment to meet new safety codes,
Make health and safety improvements at every school,
Provide handicapped access as required by law, and
Upgrade heating and ventilation systems.

Invest in our community's future by voting YES ON MEASURE G!

s/Gary F. Martin
s/Bob Carter
s/Gloria V. Lopez
s/Michael D. Reetz
s/Kathleen "Kathy" Myers

What is a general obligation bond? General obligation ("G.O.") bonds fund projects such as school repair and new classrooms. Similar to a home loan, G.O. bonds are repaid while the project is being used - typically 25 to 30 years. The loan repayment comes from a tax on all property - residential, commercial, agricultural and industrial - located in the district. Interest on the bonds will be set below the legal limit at the lowest rate possible.

Why is the District proposing Measure G? Every school in the District was built over 30 years ago, with many of the schools in excess of 40 years old.Overall safety improvements need to be made at every school and deteriorating classrooms and facilities need to be renovated before they become safety hazards. Such improvements as upgrading fire alarm systems, replacing underground gas, water and sewer lines, improving communication systems are among the necessary upgrades for our schools. In addition, the District intends to replace inefficient heating and ventilation systems. Classroom electrical systems need to be rewired to accommodate modern technology.