Fortuna Elementary School District Bond Issue, Measure W (November 2014)
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A Fortuna Elementary School District Bond Issue, Measure W ballot question was on the November 4, 2014 election ballot for voters in the Fortuna Elementary School District in Humboldt County, California. It was defeated.
If approved, Measure W would have authorized the district to increase its debt by $9 million through issuing general obligation bonds in that amount. District officials estimated the annual additional property tax rate required to repay these bonds to be $30 per $100,000 of assessed property value.[1]
A 55 percent supermajority vote was required for the approval of Measure W.[1]
Election results
| Fortuna ESD Measure W | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
 No | 1,988 | 55.38% | ||
| Yes | 1,602 | 44.62% | ||
Election results via: Humboldt County Elections Office
Text of measure
Ballot question
The question on the ballot:[1]
| “ |
To improve the quality of education with funding that cannot be taken by the State; modernize classrooms, restrooms and school facilities; make health and safety improvements; replace outdated heating, ventilation and air-conditioning systems; repair or replace leaky roofs; and improve student access to computers and modern technology, shall the Fortuna Elementary School District issue $9,000,000 of bonds at legal interest rates, have an independent citizens' oversight committee and NO money used for administrative salaries?[2] |
” |
Impartial analysis
The following impartial analysis was prepared for Measure W:[1]
| “ |
The California Constitution allows school districts to borrow money by issuing bonds to pay for construction, repair, replacement, and acquisition of school facilities if 55 percent of the voters who vote on the measure approve the sale of the bonds. The Fortuna Elementary School District Board of Trustees has called for an election and placed on the ballot the question of whether to issue bonds in the amount of $9 million for construction, upgrades, and improvements at District school sites. Money raised by bond sales can be used for the purposes and projects stated in the Bond Project List set forth in the Measure. As required by state law, the District’s Board has certified that it has evaluated safety, class size reduction, enrollment growth, and information technology needs in developing the project list. If the Measure is approved, the District’s Board will conduct annual, independent financial and performance audits to ensure that bond proceeds have been expended only on the projects on the Bond Project List. In addition, an Independent Citizens’ Oversight Committee will be established within sixty days of the entry of the election results on the Board’s minutes. The proceeds of the bonds will be maintained in a separate account in the County Treasury, and the Board must receive an annual report on the status of projects undertaken and the amount of bond proceeds received and expended in that year. If the Measure is approved, the District expects to sell the bonds in series over time. The funds to repay the bonds would be raised by an increase in property taxes based upon the value of land and improvements in the District. The interest rate on the bonds would depend on the market rate at the time the bonds are sold, but cannot exceed the rate set by state law. The District estimates that the tax rate levied to meet the debt service requirements of the bonds will not exceed $30 per year per $100,000 of assessed valuation of taxable property. If 55% of the voters in the school district approve the Measure, the District will be authorized to issue bonds in an amount not to exceed $9 million. A no vote will disapprove the issuance of bonds and the tax levy for such bonded indebtedness.[2] |
” |
| —Humboldt County Counsel[1] | ||
See also
- School bond elections in California
- Local school bonds on the ballot
- Humboldt County, California ballot measures
- November 4, 2014 ballot measures in California
External links
Footnotes
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