Walnut Creek School District, California, Bond Issue, Measure D (June 2016)
| Measure D: Walnut Creek School District Bond Issue |
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| The basics |
| Election date: |
| June 7, 2016 |
| Status: |
 ApprovedMajority required: 55% |
| Topic: |
| Local school bonds Tax: $17.30 per $100,000 in value Matures in: Legal limit |
| Related articles |
| Local school bonds on the ballot June 7, 2016 ballot measures in California Contra Costa County, California ballot measures |
| See also |
A bond issue measure was on the ballot for Walnut Creek School District voters in Contra Costa County, California, on June 7, 2016. It was approved.
| A yes vote was a vote in favor of increasing the district's debt by $60 million through issuing general obligation bonds and increasing property taxes to repay the bonds. |
| A no vote was a vote against increasing the district's debt by $60 million through issuing general obligation bonds and increasing property taxes to repay the bonds. |
District officials estimated the total debt service cost for the loan—including principal and interest—at $132,354,136. District officials also estimated the property tax rate required to repay the proposed bonds at $17.30 per $100,000 in assessed property value.[1]
A 55 percent supermajority vote was required for the approval of Measure D.
Election results
| Walnut Creek School District, Measure D | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
| Yes | 12,912 | 73.08% | ||
| No | 4,756 | 26.92% | ||
- Election results from Contra Costa County Elections Office
Text of measure
Ballot question
The following question appeared on the ballot:[1]
| “ |
To address critical renovation, modernization and safety needs at District schools, upgrade classrooms, libraries and computer networks to provide students with 21st Century classrooms, improve energy efficiency of classrooms and buildings, and replace, acquire, construct and renovate school facilities shall the Walnut Creek School District issue $60 million in bonds at legal interest rates with funds monitored by an Independent Citizens’ Oversight Committee and no funds spent on administrators?[2] |
” |
Impartial analysis
The following impartial analysis of the measure was prepared by the office of the Contra Costa County Counsel:
| “ |
The California Constitution provides that school districts may issue bonds 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, with the approval of 55% of the voters voting at an election for that purpose. By resolution, the Walnut Creek School District has proposed that bonds of the District be issued in an amount up to $60,000,000. This measure provides that proceeds from the sale of the bonds will generally be used to “address critical renovation, modernization and safety needs at District schools, upgrade classrooms, libraries and computer networks to provide students with 21st Century classrooms, improve energy efficiency of classrooms and buildings, and replace, acquire, construct and renovate school facilities.” The specific projects are set forth in the bond project list attached to the resolution of the Board of Trustees. The measure provides that a citizens’ oversight committee will be established to ensure that bond proceeds are properly expended and that annual performance and financial audits will be conducted. The measure further provides that bond proceeds will only be used for the purposes specified in the measure, and not for any other purpose. Approval of this measure authorizes the levy of ad valorem taxes upon taxable property to repay the bonded indebtedness, both principal and interest, in each year that bonds are outstanding. The Walnut Creek School District has prepared a Tax Rate Statement, which represents the school district’s best estimates of the property tax rates required to service the bonds. The estimated average tax rate required to be levied to fund the bonds is expected to be $17.30 per $100,000 of assessed valuation over the life of the bonds. Approval of the measure does not guarantee that the bonds will generate sufficient funds to allow completion of all of the proposed project or projects on the bond project list. The proposed 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. A “yes” vote authorizes the issuance of the bonds and the levy of taxes as estimated in the Tax Rate Statement to repay the bonded indebtedness. A “yes” vote by 55% of the voters within the District voting on the measure is required for passage of this measure. A “no” vote on this measure disapproves the issuance of the bonds and the levy of the taxes for the bonded indebtedness.[2] |
” |
| —Contra Costa County Counsel[1] | ||
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 Walnut Creek School District, California.
Recent news
The link below is to the most recent stories in a Google news search for the terms Walnut Creek School District Local school bonds. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.
See also
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External links
Footnotes
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