League of Women Voters of California
School Improvement Bond Measure
Lynwood Unified School District
General Obligation Bond Measure - 55% Approval Required
4,448 / 76.70% Yes votes ...... 1,351 / 23.30% No votes
Index of all Measures
|Results as of Nov 26 10:38am, 100.00% of Precincts Reporting ( 21/ 21)|
|Information shown below: Impartial Analysis | Arguments | Tax Rate Statement ||
To improve safety and relieve overcrowding in Lynwood schools, by acquiring land for a new elementary school, new high school, and new interim classrooms, and to expand two elementary schools, and for furniture, fixtures, and equipment, and not for salaries or other administrative costs, shall the Lynwood Unified School District issue $20,000,000 of bonds at interest rates within legal limits, with all the money benefiting Lynwood school children?
Approval of Measure C would authorize the Lynwood Unified School District ("District") to issue $20,000,000 in general obligation bonds.
Funds received from the sale of the bonds would be used only for the construction, rehabilitation and equipping of District facilities, or the acquisition or lease of real property for District facilities. No funds may be used for teacher or administrator salaries, or other school operating expenses.
As required by law, the Board of Education of the District ("Board of Education") has adopted a list of the specific school facilities projects to be funded by the sale of the bonds. The Board of Education will conduct annual, independent financial and performance audits to ensure that funds received from the sale of the bonds will have been expended only on the specific projects listed, and will appoint a citizen's oversight committee to inform the public on expenditures.
The bonds would be issued and sold at an interest rate not to exceed twelve percent (12%) per annum, and would be repaid by a property tax levied upon real property located within the District over a period not to exceed forty (40) years.
This Measure requires a fifty-five percent (55%) vote for passage.
NOTICE TO VOTERS
Approval of Measure C does not guarantee that the proposed project or projects in the Lynwood Unified School District that are the subject of bonds under Measure C will be funded beyond the local revenues generated by Measure C. The school district's proposal for the project or projects may assume the receipt of matching state funds, which could be subject to appropriation by the Legislature or approval of a statewide bond measure.
|Arguments For Measure C|
New Schools. A yes vote on Measure C will mean new schools.
A yes vote will
allow Lynwood to buy land for a new high school, a new elementary school, and
to expand two elementary schools in our community. Our children need you to
vote yes on Measure C because Lynwood schools are already overcrowded, and
more children are going to school here every year.
Safer Schools. A yes vote on Measure C will mean safer schools. Overcrowded schools are hard to keep safe because there are so many children to keep track of, and as more children go to school the need for safety increases. One important thing that Lynwood can do now to make our schools safer is to build new schools, so that there will be fewer children at each school.
Better Schools. A yes vote on Measure C will mean better schools. Too many of our children are attending class in portables, on land that used to be playfields, in classrooms that need to be upgraded. A yes vote on Measure C will mean more modern classrooms, new playfields, and better schools for our children.
A coalition of Lynwood parents, teachers, and community leaders urges you to vote yes on Measure C, to uphold our commitment to our children for new, safer, and better schools. Measure C funds will be watched over by a committee of parents and business leaders, to make sure all the funds are used for our school children. Measure C has community-wide support, including all the school board members, the president of the Lynwood Council PTA, the Chairman of the Planning Commission City of Lynwood and many other community leaders.
Please vote yes on Measure C.
(No arguments against Measure C were submitted)
|Tax Rate Statement from Dr. Harold Cebrun, Superintendent, Lynwood Unified School District|
|STATEMENT IN COMPLIANCE - MEASURE C
An election will be held in the Lynwood Unified School District (the "District") on November 5, 2002, for the purpose of submitting to the electors of the District the question of incurring a bonded indebtedness of the District in a principal amount of $19,850,000. If such bonds are authorized and sold, the principal thereof and interest thereon will be payable from the proceeds of tax levies made upon the taxable property in the District. The following information regarding tax rates is given to comply with Section 9401 of the California Elections Code. Such information is based upon the best estimates and projections presently available from official sources, upon experience within the District, and other demonstrable factors.
Based upon the foregoing and projections of the District's assessed valuation, and assuming the entire debt service will be paid through property taxation:
1. The best estimate of the tax which would be required to be levied to fund the 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 5.97 cents per $100 dollars of assessed valuation (or $59.70 per $100,000 of assessed valuation) for the year 2003-04.
2. The best estimate of the tax rate which would be required to be levied to fund the bond issue during the first fiscal year after the last sale of the bonds and an estimate of the year in which that rate will apply based on estimated assessed valuations available at the time of filing of this statement is 5.98 cents per $100 dollars of assessed valuation (or $59.80 per $100,000 of assessed valuation) for the year 2006-07.
3. The best estimate of the highest tax rate which would be required to be levied to fund the bond issues and an estimate of the year in which that rate will apply based on estimated assessed valuation available at the time of filing this statement is 5.99 cents per $100 dollars of assessed valuation (or $59.90 per $100,000 of assessed valuation) for the year 2010-11.
Attention to all voters is directed to the fact that the foregoing information is based upon projections and estimates only. The actual times of sales of said bonds and the amount sold at any given time will be governed by the needs of the District and other factors. The actual interest rates at which the bonds will be sold, which in any event will not exceed the maximum permitted by law, will depend upon the bond market at the time of sales. The actual assessed valuations in the future years will depend upon the value of property within the District as determined in the assessment and the equalization process. Hence, the actual tax rates and the years in which such rates are applicable may vary from those presently estimated as above stated.