This is an archive of a past election.
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Mountain Empire Safe and Modern Classrooms Measure
Mountain Empire Unified School District
55% Approval Required
Fail: 2,037 / 45.3% Yes votes ...... 2,455 / 54.7% No votes
Index of all Propositions
|Information shown below: Yes/No Meaning | Impartial Analysis | Tax Rate Statement |
To improve local schools (Campo, Clover Flat, Descanso, Jacumba, Pine Valley, Potrero and Mountain Empire High School) by upgrading classrooms/science labs/school facilities; improving student safety and accessibility for disabled students; providing computers/instructional technology; and renovating, constructing and equipping schools, shall Mountain Empire Unified School District issue $30.8 million in bonds, at legal rates, with independent oversight, annual audits, no funds for administrators' salaries and all funds benefitting local schools?
Voter approval of this measure also will authorize an annual tax to be levied upon the taxable property within the District. The purpose of this tax is to generate revenue to pay the principal and interest on the bonds.
Proceeds from the sale of bonds authorized by this proposition may be used by the District for the construction, reconstruction, rehabilitation or replacement of school facilities, including the furnishing and equipping of school facilities, or the acquisition or lease of real property for school facilities.
The interest rate on any bond, which is established at the time of bond issuance, cannot exceed 12% per annum. The final maturity date of any bond could be no later than 25 years or 40 years after the date the bonds are issued as determined by the District. The tax authorized by this proposition 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 the acquisition or improvement of real property, 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 proposition subject to these requirements.
Issuance of all of the authorized bonds might require the outstanding debt of the District to exceed its statutory bonding limit of 2.5% of the total assessed valuation of taxable property in the District. If necessary, approval of this proposition authorizes the District to seek a waiver of its bonding limit, which must be granted in order to issue those bonds in excess of the 2.5% bond limit.
Approval of this proposition 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 proposition.
|Tax Rate Statement
|An election will be held in the Mountain Empire Unified School District (the "District") on November 6, 2012, to authorize the sale of up to $30,800,000 in bonds of the District to finance school facilities as described in the proposition. If the bonds are approved, the District expects to issue the bonds in multiple series over time. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property in the District. The following information is provided in compliance with Sections 9400 through 9404 of the California Elections Code.
2. The best estimate of the tax rate which would be required to be levied 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 3.65 cents per $100 ($36.50 per $100,000) of assessed valuation in fiscal year 2027-28.
3. The best estimate of the highest tax rate which would be required to be levied to fund this bond issue, based on estimated assessed valuations available at the time of filing of this statement, is 3.65 cents per $100 ($36.50 per $100,000) of assessed valuation in fiscal year 2027-28.
Voters should note that estimated tax rates are based on the ASSESSED VALUE of taxable property on the County's official tax rolls, not on the property's market value, which could be more or less than the assessed value. In addition, taxpayers eligible for a property tax exemption, such as the homeowner's exemption, will be taxed at a lower effective tax rate than described above. 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 the foregoing information is based upon the District's projections and estimates only, which are not binding upon the District. The actual tax rates and the years in which they will apply may vary from those presently estimated, due to variations from these estimates in the timing of bond sales, the amount of bonds sold and market interest rates at the time of each sale, and actual assessed valuations over the term of repayment of the bonds. The dates of sale and the amount of bonds sold at any given time will be determined by the District based on need for construction funds and other factors. The actual interest rates at which the bonds will be sold will depend on the bond market at the time of each sale. Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined by the County Assessor in the annual assessment and the equalization process.
Dated: August 8, 2012.
Steve Van Zant