Santee School District, California, Measure S, Bond Issue (November 2018)
| Measure S: Santee School District Bond Issue |
|---|
|
| The basics |
| Election date: |
| November 6, 2018 |
| Status: |
 ApprovedMajority required: 55% |
| Topic: |
| Local school bonds Tax: $0.03 per $100 in value Matures in: Legal limit |
| Related articles |
| Local school bonds on the ballot November 6, 2018 ballot measures in California San Diego County, California ballot measures |
| See also |
| Santee School District, California |
A bond issue was on the ballot for Santee School District voters in San Diego County, California, on November 6, 2018. It was approved.
| A yes vote was a vote in favor of authorizing the district to re-issue $15.37 million in bonds, originally approved in 2006, and enacting a tax of $0.03 per $100 in value, with funds going toward construction and facility upgrades. |
| A no vote was a vote against authorizing the district to re-issue $15.37 million in bonds, originally approved in 2006, and enacting a tax of $0.03 per $100 in value, with funds going toward construction and facility upgrades. |
Election results
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Santee School District Measure S |
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|---|---|---|---|---|
| Result | Votes | Percentage | ||
|
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13,778 | 60.66% | ||
| No | 8,935 | 39.34% | ||
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- Results are officially certified.
- Source
Text of measure
Ballot question
The ballot question was as follows:[1]
| “ |
To construct, modernize, update and equip Santee elementary and junior high school classrooms and educational facilities, shall $15,370,000 of Santee School District bonds, approved by voters in 2006, be reauthorized as new bonds, with legal rates, projected average annual levies of $0.03 per $100 of assessed valuation for approximately eight years (an estimated $2.2 million raised annually), citizens’ oversight, audits, no increase in total District debt, and all funds spent locally and not taken by the State? [2] |
” |
Impartial analysis
The following impartial analysis of the measure was prepared by the office of the San Diego County Counsel:
| “ |
This measure was placed on the ballot by the governing board of the Santee School District ("District"). This measure, if approved by 55% of the votes cast on the measure, will authorize the District to issue and sell $15,370,000 in general obligation bonds. The sale of these bonds by the District is for the purpose of raising money for the District, and represents a debt of the District. In exchange for the money received from bondholders, the District promises to pay the bondholders an amount of interest for a certain period of time, and to repay the bonds on the expiration date. Voter approval of this measure will also authorize an annual tax to be levied upon the taxable property within the district. The purpose of this tax is to generate sufficient revenue to pay interest on the bonds as it becomes due and to provide a fund for payment of the principal on or before maturity. Proceeds from the sale of bonds authorized by this measure may be used by the District for the construction, reconstruction, rehabilitation or replacement of school facilities, including the furnishing and equipping of school facilities, or the acquisition or lease of real property for school facilities. The interest rate on any bond, which is established at the time of bond issuance, could not exceed 12% per annum. The final maturity date of any bond could be no later than 40 years after the date the bonds are issued, as determined by the District. The tax authorized by this measure is consistent with the requirements of the California Constitution. The California Constitution permits property taxes, above the standard 1% limitation, to be levied upon real property to pay the interest and redemption charges on any bonded indebtedness for, among other things, the construction, reconstruction, rehabilitation, or replacement of school facilities, including the furnishing and equipping of school facilities, when approved by 55% of the voters if: (1) the proceeds from the sale of the bonds are used only for the purposes specified, (2) the District evaluates safety, class size reduction, and information technology needs to approve a list of specific projects to be funded, (3) the District conducts an annual, independent performance audit to ensure funds have been expended on the specific projects listed, and (4) the District conducts an annual, independent financial audit of bond proceeds. Additionally, if the bond measure is approved, state law requires the District to establish an independent citizens' oversight committee. The District has made this ballot measure subject to these legal requirements. Approval of this measure does not guarantee that the specific projects listed by the District will be funded by the sale of the bonds.[2] |
” |
| —San Diego County Counsel[3] | ||
Path to the ballot
This measure was put on the ballot through a vote of the governing officials of Santee School District, California.
See also
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External links
Footnotes
- ↑ San Diego County Registrar of Voters, "Local Measures for November 6, 2018," accessed September 23, 2018
- ↑ 2.0 2.1 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ Voter's Edge, "Measure S," accessed September 24, 2018
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