Measure U | californiachoices.org

My vote

Would amend the City Charter of Albany to remove the exception for school purpose bonds from the City’s bonding limit, clarifying that school bonds do not count against the City’s general obligation bonding limit and clarify that the City’s bonding limit is the lesser of (i) 15% of the assessed valuation of the property in the City subject to direct taxation or (ii) the statutory maximum amount. Measure U requires simple majority approval of Albany voters to pass.

Fiscal Impact: The City would likely incur administrative costs associated with this measure.

Next Alameda County Measure: Measure V

See Endorsements for Measure U

Details

Pro/Con

Pro:

Supporters argue that Measure U modernizes our charter and sets our City up to better fund infrastructure in the future. Bonds are frequently used by School Districts and Cities to finance necessary infrastructure projects. Albany Unified School District and the City have separate authority to pass bond measures, essentially meaning that the use of bond capacity by one body does not affect the other. However, our current Charter language is outdated, referencing school bonds because when the City was founded the School District did not yet exist. Measure U removes language from the Charter that references bonding for school purposes, ensuring there is no confusion for either the School District or the City to put forward bonds in the future. Please join us and vote yes on Measure U.

A YES vote on this measure means that you support removing the exception for school purpose bonds from the City's bonding limit and clarifying it as the lesser of 15% of assessed property value or the statutory maximum.

Con:

No official argument against Measure U was submitted.

A NO vote on this measure means that you oppose removing the exception for school purpose bonds from the City's bonding limit and clarifying it as the lesser of 15% of assessed property value or the statutory maximum.

In Depth

Measure U would amend Section 4.07 of the City Charter to clarify that no general obligation bonds shall be issued on the credit of the City which in aggregate shall increase such bonded indebtedness of the City beyond the lesser of (i) 15% of the assessed valuation of the property in the City subject to direct taxation or (ii) the statutory maximum amount, as more specifically set forth therein. This amendment would clarify that bonding for school purposes would not count against the City’s general obligation bonding limit and conform the language of the charter to existing state law.

Source: Impartial Analysis of Measure U

Voter Resources

Alameda County Election Resources