League of Women Voters of California
School Improvement Bond Measure
Downey Unified School District
General Obligation Bond Measure - 55% Approval Required
13,257 / 67.05% Yes votes ...... 6,514 / 32.95% No votes
Index of all Measures
|Results as of Nov 26 10:38am, 100.00% of Precincts Reporting ( 67/ 67)|
|Information shown below: Impartial Analysis | Arguments | Tax Rate Statement ||
In order to enable the Downey Unified School District to continue providing exceptional educational opportunities and modernize its deteriorating facilities, shall the District issue $65 million in bonds, at interest rates within legal limits, to modernize, repair, replace and equip its school facilities to meet safety and instructional needs and create additional space for student enrollment growth, additional educational programs and other needs, subject to oversight by an independent citizens' committee as legally required?
Approval of Measure D would authorize the Downey Unified School District ("District") to issue up to $65,000,000 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 the maximum rate allowed by law, and would be repaid by a property tax levied upon real property located within the District over a period not to exceed the maximum number of years allowed by law.
This Measure requires a fifty-five percent (55%) vote for passage.
NOTICE TO VOTERS
Approval of Measure D does not guarantee that the proposed project or projects in the Downey Unified School District that are the subject of bonds under Measure D will be funded beyond the local revenues generated by Measure D. 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 D|
Having the highest quality of schools has been and remains a top priority of our
community. Over the past decade, we have been extraordinarily fortunate in
having such remarkable teachers, administrators and other District employees.
They have worked tirelessly to provide our children with one of the top rated
educational systems in the State.
But, we have all witnessed how quickly the world can change. It has taught us that we must never grow complacent about the future and that we must never stop striving to improve our community and our country.
Measure D gives us the opportunity to continue on with the job of creating an educational environment in which we can all be proud.
Each one of our fourteen elementary schools, four middle schools and three high schools will directly benefit from Measure D. Classrooms will be renovated, computer systems upgraded, infrastructures replaced, field areas improved, and campus security improved.
In doing so, we can all take pride in knowing that we have come together to solve our own problems. Measure D will invest our local tax dollars back into our own economy. It will be used only to improve our children's schools, not to pay for administrative salaries. And it will establish an independent citizens oversight committee to ensure that the funds are spent properly.
We believe that now is the time to invest in our community. Please join with us in supporting our schools by voting YES ON MEASURE D!
MARY STAUFFER, M.D.
WILLIAM (TRACY) RILEY Retired Business Person, President, Sertoma
(No arguments against Measure D were submitted)
|Tax Rate Statement from EDWARD A. SUSSMAN, Superintendent, Downey Unified School District|
|An election will be held in Downey Unified School District (the "District") on
November 5, 2002 to authorize the sale of $65 million in general obligation
bonds. The following information is submitted in compliance with Sections 9400-
9404 of the California Elections Code.
1. The best estimate of the tax rate that would be required 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 $.01395 per $100 ($13.95 per $100,000) of assessed valuation in fiscal year 2003-04.
2. The best estimate of the highest tax rate that would be required to fund this bond issue, based on estimated assessed valuations available at the time of filing this statement, is $.05970 per $100 ($59.70 per $100,000) of assessed valuation in fiscal year 2009-10.
3. The best estimate of the tax rate that would be required 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 $.05970 per $100 ($59.70 per $100,000) of assessed valuation in fiscal year 2009-10.
4. The average tax rate that would be required to fund this bond issue, based on estimated assessed valuations available at the time of filing of this statement, is $.03640 per $100 ($36.40 per $100,000) of assessed valuation.
These estimates are based on projections derived from information obtained from official sources. The actual tax rates and the years in which they will apply may vary depending on the timing of bond sales, the amount of bonds sold at each sale and actual increases in assessed valuations. The timing of the bond sales and the amount of bonds sold at any given time will be determined by the needs of the District. Actual assessed valuations will depend upon the amount and value of taxable property within the District as determined in the assessment and the equalization process.
Dated: July 25, 2002