League of Women Voters of California
College Facility Improvement Bond Measure
Rio Hondo Community College District
General Obligation Bond Measure - 55% Approval Required
31,913 / 52.67% Yes votes ...... 28,674 / 47.33% No votes
Index of all Measures
|Results as of Nov 26 10:38am, 100.00% of Precincts Reporting ( 187/ 187)|
|Information shown below: Impartial Analysis | Arguments | Tax Rate Statement ||
To prepare students for jobs and four-year colleges and training nurses, police and firefighters by repairing aging buildings, classrooms, laboratories; expanding nursing, police, and firefighter training centers; removing asbestos; upgrading earthquake/fire safety and campus security; repairing leaky roofs, plumbing, air conditioning; upgrading wiring for computer technology, shall Rio Hondo Community College District issue $194.6 million in bonds at interest rates within legal limits, with guaranteed annual audits, citizens' oversight committee and no money for administrators' salaries?
Approval of Measure R would authorize the Rio Hondo Community College District ("District") to issue $194,600,000 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 Trustees of the District ("Board of Trustees") has adopted a list of the specific school facilities projects to be funded by the sale of the bonds. The Board of Trustees 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 R does not guarantee that the proposed project or projects in the Rio Hondo Community College District that are the subject of bonds under Measure R will be funded beyond the local revenues generated by Measure R. 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 R|
Measure R will allow Rio Hondo Community College District to make critical
repairs, build classrooms and improve campus safety and security.
Because the University of California and California State systems are becoming so expensive, more students are attending community colleges first and then transferring. We must invest in community colleges so they can provide local students with the high-quality education they might not otherwise receive.
Rio Hondo College was built almost 40 years ago to serve 4,000 students, but it now serves 20,000 students and the numbers keep growing. We need to pass Measure R to build more classrooms to educate our students.
Since the campus was built, Rio Hondo College has not asked voters to approve a bond until now, and these repairs are overdue. Measure R will address urgent, basic repairs, including leaking roofs, outdated plumbing and aging electrical systems. It will fund construction of a new library and improve technology, including math and computer labs.
It will be less expensive to upgrade and repair college buildings now while interest rates are low, rather than in the future. If we don't do something now, the problems will only get worse and become more costly to fix.
By expanding space for critical vocational training programs, Measure R will improve the quality of local public services by providing a well-trained workforce, including firefighters, nurses and police who are in high demand in our area.
Annual, independent audits and a citizens' oversight committee consisting of representatives of senior citizen, taxpayer and business organizations, the Rio Hondo College Foundation and students will guarantee that funds are spent efficiently and as promised. No money will go to administrators' salaries.
We must support our community college to ensure that it continues to meet the vocational and transfer needs of students in our community.
VOTE YES ON MEASURE R.
JUDY W. WALBURGER
(No arguments against Measure R were submitted)
|Tax Rate Statement from Rodr Marie Joyce, Ph.D., Superintendent/President, Rio Hondo Community College District|
|STATEMENT IN COMPLIANCE - MEASURE R
An election will be held in the Rio Hondo Community College District on November 5, 2002 to authorize the sale of up to $194,600,000 in general obligation bonds of the District to finance the acquisition and improvement of real property for school purposes. 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 is provided in compliance with Sections 9400-9404 of the Election Code of the State of California.
1. The best estimate of the tax rate that would be required to be levied to fund the bond issue during the first fiscal year after the first sale of bonds based on a projection of future assessed valuations is $0.02495 per $100 ($24.95 per $100,000) of assessed valuation in Fiscal Year 2003-2004.
2. The best estimate of the tax rate that would be required to be levied to fund the bond issue during the first fiscal year after the last sale of bonds if the bonds are sold in series, and an estimate of the fiscal year in which that rate will apply, based on a projection of future assessed valuations is $0.02495 per $100 ($24.95 per $100,000) of assessed valuation in Fiscal Year 2014-15.
3. The best estimate of the highest tax rate that would be required to be levied to fund the bond issue and an estimate of the fiscal year in which that rate will apply, based on a projection of future assessed valuations, is again $0.02495 per $100 ($24.95 per $100,000) of assessed valuation, which is projected to be the same in every fiscal year.
Attention of all voters is directed to the fact that the foregoing is based upon projections and estimates only, which are not binding upon the District. The actual tax rates and 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 at any given sale, and the actual assessed valuation over the term of the repayment of the bonds. The actual time 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 (including market rate variations in the interest rate on general obligation bonds). Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined in the assessment and equalization process.