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Maintain Quality Education in Escondido Measure
Escondido Union School District
55% Approval Required
Pass: 18615 / 56.95% Yes votes ...... 14072 / 43.05% No votes
Index of all Propositions
|Information shown below: Summary | Yes/No Meaning | Arguments | Tax Rate Statement ||
Maintain Quality Education in Escondido Measure. "To repair/replace outdated classrooms/school buildings with safe, modernized facilities, improve student safety/campus security, keep technology infrastructure up-to-date in K-8 classrooms, science labs, libraries/computer systems, acquire, construct, repair classrooms, sites/equipment, provide all students with access to the education, facilities, and technology needed to succeed in high school/college, shall Escondido Union School District issue $182,100,000 in bonds at legal rates, with citizen oversight, annual audits, and all money for Escondido elementary/middle schools?"
Voter approval of this measure will also authorize an annual tax to be levied upon the taxable property within the District. The purpose of this tax is to generate sufficient revenue to pay interest on the bonds as it becomes due and to provide a fund for payment of the principal on or before maturity.
Proceeds from the sale of bonds authorized by this measure 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, could not 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 bonds may not be issued as capital appreciation bonds.
The tax authorized by this measure 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, inter alia, the construction, reconstruction, rehabilitation, or replacement of school facilities, 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 measure subject to these requirements.
Approval of this measure 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 measure.
|Arguments For Proposition E||Arguments Against Proposition E|
|A good education is the best way to prepare for success in life. But aging school facilities in our
K-8 schools are now threatening Escondido's local quality of education.
VOTING YES on Proposition E will protect your investment in Escondido.
Our elementary and middle schools have educated generations of Escondido children. But today, many of our schools have grown outdated and are overdue for repairs and upgrades. If we want our children to succeed in high school, college and careers, they must be skilled in reading, writing, language arts, science, math and technology.
Proposition E provides a prudent, responsible plan to modernize Escondido K-8 schools for improved student safety, instruction and learning.
Proposition E will:
Taxpayer protections are required.
Please join teachers, parents, and community leaders throughout Escondido who are VOTING YES for safe, modern, elementary and middle schools.
Vote YES on E. Thank you!
No arguments against Proposition E were submitted.
|Tax Rate Statement from Superintendent of Schools|
|To: The voters voting in the November 4, 2014 election on the question of the issuance of $182,100,000 General Obligation Bonds of the Escondido Union School District.
You are hereby notified in accordance with Section 9401 of the Elections Code of the State of California of the following:
1. The best estimate from official sources of the tax rate which would be required to be levied to fund principal and interest payments during the first fiscal year after the first sale of bonds (Fiscal Year 2015-2016), based on assessed valuations available at the time of the election and taking into account estimated future growth, is $.029000 per $100 of assessed valuation, which equates to $29.00 per $100,000.
The attention of all voters is directed to the fact that the foregoing information is based upon projections and estimates only. 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 date of sale and the amount of bonds sold at any given time will be determined by the District based on its 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 sale. Actual future assessed valuations 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. Accordingly, the actual tax rates and the years in which such rates are applicable may vary from those presently estimated as above stated.
Superintendent of the