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Cabrillo Unified School District, California, Measure M, Bond Issue (June 2018)
| Measure M: Cabrillo Unified School District Bond Issue |
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| The basics |
| Election date: |
| June 5, 2018 |
| Status: |
 ApprovedMajority required: 55% |
| Topic: |
| Local school bonds Tax: $52 per $100,000 of assessed value Matures in: Legal limit |
| Related articles |
| Local school bonds on the ballot June 5, 2018 ballot measures in California San Mateo County, California ballot measures District bonds on the ballot |
| See also |
| Cabrillo Unified School District, California |
A bond issue to fund school updates, repairs, equipment, and construction was on the ballot for Cabrillo Unified School District voters in San Mateo County, California, on June 5, 2018. It was approved.
| A yes vote was a vote in favor of authorizing the Cabrillo Unified School District to issue up to $99,000,000 in bonds at a tax rate of $52 per $100,000 of assessed property value to fund school updates, repairs, equipment, and construction. |
| A no vote was a vote against authorizing the Cabrillo Unified School District to issue up to $99,000,000 in bonds. |
A 55 percent supermajority vote was required for the approval of this measure.
Election results
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Cabrillo Unified School District Measure M |
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| Result | Votes | Percentage | ||
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4,864 | 55.07% | ||
| No | 3,969 | 44.93% | ||
Text of measure
Ballot question
The ballot question was as follows:[1]
| “ |
To update classrooms and science labs in schools; perform essential safety repairs; fix leaky roofs; equip classrooms with 21st-century learning technology; replace aging heating/plumbing; and construct/equip classrooms, shall Cabrillo Unified School District issue $99,000,000 in bonds, at legal interest rates, raising amounts needed each year to repay bonds while outstanding, at an estimated rate of $52 per $100,000 of assessed value, with citizen oversight, annual audits, no funds for administrator salaries, and funds staying local?[2] |
” |
Impartial analysis
The following impartial analysis of the measure was prepared by the office of the San Mateo County Counsel:
| “ |
The California Constitution and Education Code authorize a school district to issue bonds for specified purposes if issuance of the bonds is approved at an election by 55% of those voting on it. The Board of Trustees of the Cabrillo Unified School District (“District”) proposes this measure, which would authorize the District to issue bonds in a principal amount not to exceed $99 million. The bonds will have an interest rate not exceeding the legal maximum and will be repaid within the time permitted by law. The Tax Rate Statement printed in this pamphlet contains the District’s best estimates of tax rates required to service the bond debt during the life of the bonds. The District’s best estimate of the average annual tax rate levy to fund this bond is $52.00 per $100,000 of assessed valuation. This means that a property assessed at $800,000 would likely have an annual tax obligation of $416 under this measure. The District estimates that the total amount repayable during the life of the bond, including principal and interest, will be approximately $194 million. The California Constitution requires the listing of specific projects to be funded from the bond revenue and certification that the Board of Trustees has evaluated safety, class size reduction, and information technology needs in the development of that list. The Bond Project List can be found in the full text of the measure, and includes, among other projects:
The measure authorizes equipment acquisition, upgrades, repairs, services, construction, and other items related to the listed projects. Projects are authorized at all District locations. The Bond Project List does not imply a specific prioritization among the projects, and should be reviewed for further details. No proceeds from the bonds shall be used for teacher or administrator salaries or operating expenses. State law requires that the District take certain steps to account for the proceeds from the bonds. Accordingly, the District will direct the funds to be deposited into a special account, appoint an independent citizens’ oversight committee, conduct annual independent performance and financial audits to ensure that funds are spent only for the purposes listed in the Bond Project List and for no other purposes, and prepare annual reports listing the amount of funds collected and expended and the status of any funded project. A “yes” vote on this measure would authorize the District to issue bonds in a principal amount not to exceed $99 million for the purposes listed in the project list. A “no” vote would prevent the District from issuing the bonds. This measure passes if 55% of those voting on the measure vote “yes.”[2] |
” |
| —San Mateo County Counsel[3] | ||
Full text
The full text of the measure is available here.
Path to the ballot
This measure was put on the ballot through a vote of the governing officials of Cabrillo Unified School District, California.
See also
External links
Footnotes
- ↑ County of San Mateo Assessor-County Clerk-Recorder & Elections, "Resolution," accessed April 16, 2018
- ↑ 2.0 2.1 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ County of San Mateo Assessor-County Clerk-Recorder & Elections, "Impartial Analysis," accessed April 16, 2018
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