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Riverside County, CA June 5, 2012 Election
Measure L
School Improvement Bonds
Val Verde Unified School District

55% Approval Required

Pass: 2,758 / 61.91% Yes votes ...... 1,697 / 38.09% No votes

See Also: Index of all Measures

Results as of June 22 8:47am, 100.00%% of Precincts Reporting (28/28)
Information shown below: Impartial Analysis | Arguments | Tax Rate Statement |

To protect the quality of education in our local schools, relieve overcrowding and provide safe/modern schools, shall the Val Verde Unified School District update computers/technology in classrooms/science labs/libraries; provide facilities/equipment for career training/education; make funds available to attract/retain qualified teachers and protect academic instruction; construct new high school facilities to relieve overcrowding by issuing $178 million in bonds at legal interest rates with annual audits, independent oversight and all funds staying local?

Impartial Analysis from Sunshine S. Sykes, Deputy County Counsel
The Board of Education ("Board") of the Val Verde Unified School District ("District") by adopting Resolution No. 11-12-14, elected to call an election pursuant to Section 18 of Article XVI and Section 1 of Article XIII A of the California Constitution and Section 15266 et seq. of the Education Code to obtain authorization to issue and sell general obligations bonds ("Bonds") in the aggregate principal amount of $178,000,000.

The Bonds would be used by the District to upgrade instructional technology, provide facilities and equipment for career and technical education classes, improve energy efficiency, upgrade electrical systems, fire alarms, and school security, and construct new classrooms and schools. The Bonds would not be used to increase salaries, benefits, or pensions for administrators, teachers, or any other school employees.

The Bonds would bear interest at an annual rate not to exceed the legal maximum payable. The Bonds could be sold in several series and would mature no later than forty (40) years following their issuance.

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. For this Measure to be approved fifty-five percent (55%) of qualified voters who vote on the Measure must vote yes.

A "YES" vote on Measure "L" is a vote to allow the District to sell the Bonds and levy the necessary taxes to pay for the Bonds.

A "NO" vote on Measure "L" is a vote against allowing the District to sell the Bonds and levy the necessary taxes to pay for the Bonds.

 
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Arguments For Measure L
Voting YES on "L" will maintain quality education in our local Val Verde schools.

By law, all Measure "L" funds stay here and go directly to support local children. Not one penny can be taken by the State or used for other purposes.

Each of the nearly 20,000 students attending our schools deserves a quality education. Measure "L" provides locally-controlled funding to help students succeed that Sacramento can't take.

Val Verde Unified School District is one of the best in the region. Student test scores outperform all surrounding school districts. However, student overcrowding, outdated technology, and State budget cuts threaten this progress.

Schools are overcrowded and will become even more crowded unless something is done. For example, our high schools hold 50% more students than they were designed for, which means many students can't get the classes or labs required by colleges. Measure "L" gives all students access to the teachers, science labs, libraries and computers they need to learn and prepare for college.

Measure "L" will:

  • Attract and retain qualified teachers
  • Protect quality academic instruction in core subjects like math, science, reading and writing
  • Help students struggling with the basics
  • Challenge students preparing for college
  • Improve student safety and security
  • Update technology and computers in classrooms, libraries and science labs
  • Restore programs lost due to state budget cuts, including music, tutoring and physical education
  • Provide career and technical education to help students compete for high-demand jobs Mandatory accountability protections:
  • All funds stay in our local schools
  • No funds can be taken by the State
  • Independent citizen oversight and annual audits required Measure "L" helps students prepare and qualify for college.

It also makes sure those not headed to college receive career training to get good jobs and earn a living.

Please vote Yes on "L" for 21st century learning.

Albert Trudel,
President, Val Verde Teachers Association

Luzi Chavez,
Val Verde Parent & Community Leader

Dan Rice,
President, Moreno Valley Homeowner Assoc.

Marla Kirkland,
Lifetime Community Member & Past Val Verde Board Member

Rita Rogers,
City Council of Perris

(No arguments against Measure L were submitted)

Tax Rate Statement from Chief Business Officer, Val Verde Unified School Distric
An election will be held in Val Verde Unified School District (the "District") on June 5, 2012 for the purpose of submitting to the electors of the District the question of incurring a bonded indebtedness of the District in the principal amount of $178,000,000. If such bonds are authorized and sold, the principal thereof and interest thereon will be payable from the proceeds of taxes levied on the taxable property in the District. The following information regarding tax rates is given to comply with Section 9401 of the California Elections Code. This information is based upon the best estimates and projections presently available from official sources, upon experience within the District and other demonstrable factors.

Based upon the foregoing and projections of the assessed valuations of taxable property in the District, and assuming the entire debt service on the bonds will be paid through property taxation:

1. 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 estimated assessed valuations available at the time of the filing of this statement, is $48.73 per $100,000 of assessed valuation of all property to be taxed for the year 2012-13 (it is expected that the typical homeowner within the School District will pay $80 in year 2012-13).

2. 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 last sale of the bonds and an estimate of the year in which that rate will apply, based on estimated assessed valuations available at the time of the filing of this statement, are $48.73 per $100,000 of assessed valuation of all property to be taxed and the year 2024-25.

3. The best estimate from official sources of the highest tax rate that would be required to be levied to fund the bond issue and an estimate of the year in which that rate will apply, based on estimated assessed valuations available at the time of the filing of this statement, are $48.73 per $100,000 of assessed valuation of all property to be taxed and the year 2012-13.

Attention of voters is directed to the fact that the foregoing information is based upon projections and estimates. The actual timing of sales of the bonds and the amount to be sold at any time will be governed by the needs of the District and other factors. The actual interest rates at which the bonds will be sold, which will not exceed the maximum permitted by law, will depend upon the bond market 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 the equalization process. Therefore, the actual tax rates and the years in which those tax rates will be applicable may vary from those presently estimated and stated above.


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Created: July 26, 2012 13:01 PDT
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