Measure B would authorize the District to issue and sell general obligation bonds in an amount not to exceed $29,900,000. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property located within the District. Proceeds could be used only for the school facilities projects identified in the measure's Bond Project List. These include repairing or replacing leaky roofs, deteriorating plumbing, sewer systems, and outdated heating and air conditioning; modernizing or renovating classrooms, restrooms, and school facilities; making health, safety, accessibility (including ADA), and security improvements; upgrading technology, electrical wiring, athletic fields, parking, and grounds; improving energy efficiency; abating hazardous materials; and acquiring real property for school facilities. By law, bond proceeds may not be used for teacher or administrator salaries, pensions, or other school operating expenses.
Measure B requires approval by 55% of the voters voting on it to pass.
Fiscal Impact: Starting in 2026-27, the average annual tax rate that would be required to be levied to fund this bond issue over the entire duration of the bond debt service, based on assessed valuations available at the time of the election and a projection based on experience within the same jurisdiction and other demonstrable factors, estimated to be $46.00 per $100,000 of assessed valuation. The final fiscal year in which the tax is anticipated to be collected is 2061-62. The total debt service, including the principal and interest, that would be required to be repaid if all the bonds are issued and sold is $58,600,000.