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Education Technology and School Facilities Improvements
Murrieta Valley Unified School District
Bond Measure - 55% Approval Required
Index of all Measures
|Information shown below: Impartial Analysis | Arguments | Tax Rate Statement ||
To upgrade outdated Murieta K12 classrooms, labs, career-training facilities and education technology, rehabilitate deteriorated roofs, plumbing,electrical, lighting, HVAC, flooring, buildings and grounds, acquire/construct/equip sites, classrooms, and facilities, upgrade safety/security systems and improve science, technology, engineering, and math instructional facilities, shall Murieta Valley Unified School District issue $98,000.000 of bonds at legal rates, with independent citizen oversight, no money for administrator salaries, and all funds benefitting Murieta Valley K12 schools?
This Measure was placed on the ballot by the Board of the above- identified District.
The Bonds would be used by the District to acquire and construct a new elementary school and related facilities, repair, renovate and upgrade buildings and infrastructure, including plumbing, lighting, electrical and drainage systems, and acquire, install and upgrade technology equipment, infrastructure and fixtures. The Bonds would not be used to fund the salaries, pensions or benefits of any board members, administrator, and/or teachers or for other school operating expenses.
If Measure "BB" is approved, the Board of the District will appoint a citizens' oversight committee and conduct annual independent audits to assure that bond funds are spent only on 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, and for no other purposes.
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.
The Resolution provides that the maximum interest rate on the Bonds will not exceed the maximum interest rate permitted by the applicable laws of the State and the maximum term of the Bonds, or any series thereof, will not exceed 40 years.
Approval of Measure "BB" does not guarantee that the proposed project or projects in the Murrieta Valley Unified District that are the subject of the Bonds under Measure "BB" will be funded beyond the local revenues generated by Measure "BB". The District's proposal for the project or projects assumes the receipt of matching state funds, which could be subject to appropriation by the Legislature or approval of a statewide bond measure.
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 "BB" 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 "BB" is a vote against allowing the District to sell the Bonds and levy the necessary taxes to pay for the Bonds.
By: Ronak N. Patel, Deputy County Counsel
|Arguments For Measure BB||Arguments Against Measure BB|
|Protect the outstanding quality of education that children receive in the Murrieta Valley Unified School District: VOTE YES on Measure "BB".
Over the past year, Murrieta Valley Unified has worked with our community to identify critical educational needs + especially educational technology needs + that require attention to protect the superior quality of education that helps our schools perform among the best in the state.
Measure "BB" authorizes a prudent, responsible plan to meet these needs. Academic standards are rising in today's world. We need to give our kids a competitive edge. Measure "BB" will help.
Measure "BB" will:
Taxpayer protections are REQUIRED. Measure "BB" is for school technology, facilities and equipment ONLY. NO funds are allowed for administrators' salaries, benefits or pensions. Independent Citizens' Oversight and mandatory audits will ensure funds are spent properly.
Protecting the quality of our schools is a wise investment. Good schools protect property values. The longer we wait to make these improvements, the more expensive they will be.
Please join teachers, parents, civic and business leaders, and residents throughout Murrieta Valley taking a positive step to help our schools and education community continue to thrive.
Please VOTE YES on "BB".
(No arguments against were submitted)
|Tax Rate Statement from Superintendent of Schools|
|An election will be held in the Murrieta Valley Unified School District (the "District") on November 4, 2014, to authorize the sale of up to $98,000,000 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.
1. The best estimate of the tax which would be required to be levied 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 2.5 cents per $100 ($25 per $100,000) of assessed valuation in fiscal year 2015-16.
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 2.5 cents per $100 ($25 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 2.5 cents per $100 ($25 per $100,000) of assessed valuation, which is projected to be the same in every fiscal year that the bonds remain outstanding.
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. Certain taxpayers may also be eligible to postpone 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 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 5, 2014