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New Haven Unified School District Bond Issue, Measure M (November 2014)
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A New Haven Unified School District Bond Issue, Measure M ballot question was on the November 4, 2014 election ballot for voters in the New Haven Unified School District in Alameda County, California. It was approved.
Measure M authorized the district to increase its debt by $125 million through issuing general obligation bonds in that amount.[1]
School officials estimated that an additional property tax of $49 per $100,000 of assessed property value would be required to repay the bond debt.[1]
A 55 percent supermajority vote was required for the approval of Measure M.
Election results
Measure M | ||||
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Result | Votes | Percentage | ||
![]() | 8,962 | 68.71% | ||
No | 4,082 | 31.29% |
Election results via: Alameda County Elections Office
Text of measure
Ballot question
The question on the ballot:[1]
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To continue critical school renovation and modernization projects, replace old portables with permanent classrooms, update school safety and security, improve student access to computers and technology, upgrade athletic facilities, increase the energy efficiency of classrooms and buildings, replace, acquire, construct and renovate District facilities and provide District-wide technology improvements, shall the New Haven Unified School District issue $125 million in bonds at legal interest rates with an independent citizens' oversight committee?[2] |
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Tax statement
The following tax statement was provided by the office of the district superintendent:[1]
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An election will be held in the New Haven Unified School District (the "District") on November 4, 2014, to authorize the sale of up to $125,000,000 in bonds of the District for the specific school facilities projects listed in the Bond Project List established by the District, as described in the proposition. If the bonds are authorized and a State bonding capacity waiver is received, the District expects to sell the bonds in two or more series. Principal and interest on the bonds 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 Elections Code of the State of California. 1. The best estimate of the tax which would be required to be levied 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 $48 per $100,000 of assessed valuation in fiscal year 2015-16. 2. The best estimate of the highest tax rate which would be required to be levied to fund this bond issue, based on estimated assessed valuations available at the time of filing of this statement, is $48 per $100,000 of assessed valuation in fiscal year 2023-24. 3. The best estimate of the tax which would be required to be levied 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 $48 per $100,000 of assessed valuation in fiscal year 2015-16. 4. The best estimate of the average tax rate which would be required to be levied to fund this bond issue during the life of the bonds, based on estimated assessed valuations available at the time of filing of this statement, is $48 per $100,000 of assessed valuation. Voters should note that estimated tax rate is based on the ASSESSED VALUE of taxable property on Alameda County's official tax rolls, not on the property's market value. Property owners should consult their own property tax bills to determine their property's assessed value and any applicable tax exemptions. Attention of all voters is directed to the fact that the foregoing information is based upon the District's projections and estimates only, which are not binding upon the District. The actual tax rates and the 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 and market interest rates at the time of each sale, and actual assessed valuations over the term of repayment of the bonds. The dates of sale and the amount of bonds sold at any given time will be determined by the District based on need for construction funds and other factors. The actual interest rates at which the bonds will be sold will depend on the bond market at the time of each sale. Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined by the Alameda County Assessor in the annual assessment and the equalization process.[2] |
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—New Haven Unified School District Superintendent[1] |
Project list
The list of possible projects that the bond money could be spent on is below. The projects were set to be completed as needed.
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The New Haven Unified School District will use bonds funds to provide up to date classrooms, renovate athletic fields and related facilities, replace underground water sewer and gas lines, and replace old and inefficient electrical, lighting, heating, plumbing and ventilation systems. In addition, all schools are in need of updated instructional technology as well as ongoing repairs and renovations to keep the schools safe and secure. Bond funds will be used in combination with any other received State matching funds. The New Haven Unified School District will use bond funds for the following school facility improvement projects. All schools listed below will receive bond funds:
School Bond Renovation and Modernization Projects include:
For any bonds that the District issues to fund the acquisition of technology equipment or any other projects with a relatively short useful life, the District will certify at the time of issuance that the average maturity of the particular bond issue does not exceed the useful life of the projects being financed. For any project involving modernization or renovation of a building or the major portion of a building, the District shall be authorized to proceed with new replacement construction if the Board of Trustees determines that replacement and new construction is economically more practical considering the building’s age, condition and other relevant factors. The District will seek a waiver from the State Board of Education of the applicable bonding limit requirements of Section 15106 of the California Education Code if such a waiver is necessary to allow the District to issue bonds under this Measure.[2] |
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See also
- Local school bonds on the ballot
- School bond elections in California
- Alameda County, California ballot measures
- November 4, 2014 ballot measures in California
External links
Footnotes
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