League of Women Voters of California Education Fund
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Measure M College of the Canyons Measure To Add/Upgrade Local Classrooms Santa Clarita Community College District School Bond - 55% Approval Required
See Also:
Index of all Measures |
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Pass:
38,292 /
62.65% Yes votes ......
22,827 /
37.35% No votes
| Results as of Dec 3 2:14pm, 100.00% of Precincts Reporting (150/150) |
| Information shown below: Official Information | Tax Rate Statement | | ||||
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To relieve classroom overcrowding, upgrade technology, prepare local students for university transfer/high demand jobs and secure State funds, shall Santa Clarita Community College District repair educational facilities, including nursing, fire fighting, law enforcement classrooms, science/high tech computer labs; upgrade aging plumbing, roofing, electrical, earthquake, safety systems; acquire equipment; construct new educational facilities; by issuing $160 million in bonds, at legal rates with independent citizen oversight with mandatory audits?"
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Official Information Organizations in Favor News and Analysis College of the Canyons Public Info Office Radio KHTS AM-1220
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| Tax Rate Statement |
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An election will be held in the Santa Clarita Community College District (the "District") on November 7, 2006, for the purpose of submitting to the electors of the District the question of issuing bonds of the District in a principal amount not to exceed $160 million. If such bonds are authorized and sold, the principal thereof and interest thereon will be payable from the proceeds of tax levies made upon the taxable property in the District. The following information regarding tax rates is given to comply with Section 9401 of the California Elections Code. Such information is based upon the best estimates and projections presently available from official sources, upon experience with the District, and other demonstrable factors.
Based upon the foregoing and projections of the District's assessed valuation, and assuming the entire debt service will be paid through property taxation:
1. The best estimate of the tax rate that would be required to be levied to fund the 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 $9.73 per $100,000 of assessed valuation for fiscal year 2007-08.
2. The best estimate of the tax rate that would be required to be levied to fund the 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 $9.73 per $100,000 of assessed valuation for fiscal year 2013-14.
3. The best estimate of the highest tax rate that would be required to be levied to fund the bond issue, and an estimate of the years in which that rate will apply, based on estimated assessed valuations available at the time of the filing of this statement is again $9.73 per $100,000 of assessed valuation, which is projected to be the same in every fiscal year that the bonds remain outstanding. Attention to 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 timing of bond sales and the amount of bonds sold at any given time will be governed by the needs of the District, the state of the bond market, and other factors. The actual interest rates on any bonds sold will depend upon market conditions and other factors at the time of sale. The actual assessed valuations in future years will depend upon the value of property within the District as determined in the assessment and equalization process. Therefore, the actual tax rates and the years in which such rates are applicable may vary from those presently estimated as stated above.
Dr. Dianne Van Hook |
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Created: January 4, 2007 09:34 PST
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