Morongo Unified School District, California, Measure O, Bond Issue (November 2018)

No

To repair or replace aging roofs, modernize/renovate classrooms, restrooms and school facilities, upgrade aging electrical systems, and replace outdated technology to improve the quality of education, shall the Morongo Unified School District issue $62,000,000 of bonds at legal rates, with estimated repayment amounts averaging $3,800,000 annually estimated through 2052, projected average tax rate of 5.5 cents per $100 assessed value, with annual audits, independent citizens' oversight committee, NO money for administrator salaries and all money staying local? ^[2]

Measure "O" is submitted to the voters by the Board of Education of the Morongo Unified School District ("District"). A "yes" vote by at least fifty-five percent (55%) of the voters voting on this measure will authorize the District to issue bonds to benefit the District in the amount of sixty-two million dollars ($62,000,000). If less than fifty five percent (55%) of the voters voting on this measure vote yes, the District will not be authorized to issue and sell the $62,000,000 in bonds set forth in the measure.

The bond proceeds may only be used to fund the repair or replacement of aging roofs, to modernize/renovate classrooms, restrooms and school facilities, upgrade aging electrical systems, and replace outdated technology to improve the quality of education. The proceeds may not be used for any other purpose, including teachers and administrator salaries or pensions and other school operating expenses.

The District will conduct financial and performance audits annually and will appoint a citizens' oversight committee to ensure that bond proceeds are spent only on the school facility projects listed in the measure.

The bonded debt will be a general obligation of the District and will be financed by property taxes levied annually on taxable property located within the District in an amount necessary to pay the annual debt obligation.^[2]