Pass: 506 / 61.19% Yes votes ...... 321 / 38.81% No votes

See Also: Index of all Measures

The measure would authorize the District to issue up to $4,000,000 in bonds, at legal rates, for a term of not longer than 25 years, to be used only for design, acquisition, installation, restoration and construction of schools and school facilities and/or to equip such facilities.

Bond proceeds will be used to fund projects included in the List of School Facilities Projects, which states that the bond proceeds will be used to relocate and rebuild a new entrance to the school campus, construct and improve parking lots, a bus turnaround, driveways, sidewalks and walkways, acquire land, add new play fields and add and/or upgrade disabled access and facilities, school site communications, energy and security systems and heating, cooling and ventilation systems. The District's Board of Trustees ("Board") has certified that it has evaluated safety, class size reduction and information technology needs of the District.

Approval of the District’s bond measure does not guarantee that particular projects will be funded or that projects will be completed in any particular order.

Bond proceeds may be used for other incidental project costs, including costs of the election and bond issuance. Bond proceeds will not be used for teacher or school administrator salaries or for non-construction related operating expenses. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property in the District.

These taxes would be in addition to the property taxes currently levied on taxpayers in the District. The amount of the increased taxes each year would depend upon the amount needed to pay the principal and interest on the bonds. The District estimates that the highest tax rate necessary to fund this bond issue is $29.00 per year for every $100,000 of assessed valuation. Independent performance and financial audits must be performed annually and a citizens oversight committee will monitor expenditures and ensure bond proceeds are spent as specified. Bond proceeds will be deposited in a separate account. As long as any bond proceeds remain unexpended, annual reports will be filed with the Board stating the amount of bond proceeds received and expended in that year and the status of any project funded or to be funded from bond proceeds.

• Section 9500 of the California Elections Code requires the county counsel to prepare an impartial analysis for each school measure appearing on the ballot.

Mesa Union Elementary School District

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(a) The best estimate from official sources of the tax rate that would be required to be levied to fund the bond issue during the first fiscal year after the first sale of the bonds based on assessed valuations available at the time of the election or a projection based on experience within the same jurisdiction or other demonstrable factors is $0.029 per $100 ($29.00 per $100,000) of assessed valuation.

(b) It is currently anticipated that the bonds will be sold in a single series. The best estimate from official sources of the tax rate which would be required to be levied to fund the bond issue during the first fiscal year after the last sale of the bonds is $0.029 per $100 ($29.00 per $100,000) of assessed valuation.

(c) The best estimate from official sources of the highest tax rate which would be required to be levied to fund the bond issue during the term of the bond issue, based on assessed valuations available at the time of the election or a projection based on experience within the same jurisdiction or other demonstrable factors, is $0.029 per $100 ($29.00 per $100,000) of assessed valuation. It is estimated that the highest tax rate would apply in the 2008-2009 tax year based on assessed valuations available at the time of the election or a projection based on experience within the same jurisdiction or other demonstrable factors.

(d) The best estimate from official sources of the average tax rate required to fund this bond issue, based on estimated assessed valuations available at the time of filing of this statement, is $0.02750 per $100 ($27.50 per $100,000) of assessed valuation.

Voters should note that these estimated tax rates are based on the assessed value of taxable property within the District as shown on the official rolls of Ventura County, 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 rate than described above. Certain taxpayers may also be eligible to postpone the 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 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 any bond sales, the amount of bonds sold and actual increases in assessed valuations. The timing of the bond sales and the amount of bonds sold at any given time will be governed by the needs of the District.

Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined by the Ventura County Assessor in the annual assessment and the equalization process.

Dated: January 15, 2008