Fillmore Unified School District, California, Bond Issue, Measure V (November 2016)

To repair and upgrade older classrooms and school facilities, including leaky roofs, deteriorating plumbing, electrical, heating/air conditioning systems, upgrade electrical wiring, fire alarms/emergency communication systems, improve vocational education facilities, acquire, construct/repair classrooms, sites, facilities, equipment, qualify for State matching funds, shall Fillmore Unified School District issue $35 million in bonds at legal rates, with independent citizen oversight, audits, no money for administrator salaries, and all money staying local to benefit Fillmore Unified students and schools?^[2]

Measure V was placed on the ballot by the Governing Board of Trustees (“Board”) of the Fillmore Unified School District (“District”). Under the state Constitution, school districts may issue general obligation bonds only if approved by 55% (or more) of the voters of the District. Such a “Yes” vote would permit the District to issue bonds (“Bonds”) in an amount not to exceed $35,000,000 for construction, reconstruction, rehabilitation, and replacement of District school facilities, as described and specified below and in Measure V’s Project List.

If Bonds are issued, proceeds may be used only for Measure V’s stated purposes, which include the following: upgrading science labs; repairing or replacing leaky roofs, deteriorating plumbing, electrical, heating and air conditioning systems; improving heating, ventilation, insulation, doors and windows for energy efficiency; upgrading and constructing classrooms and career-training facilities; improving vocational education facilities; upgrading electrical wiring to support technology; upgrading fire alarms and fire safety systems; improving safety and security systems, including lighting, cameras, and emergency communication systems, etc. Measure V also provides that funds may be used for acquisition of instructional, maintenance, and operational equipment; payment of preparation costs for facility planning studies, assessment reviews, master plan updates, environmental studies, and the like (as detailed in Measure V’s Project List).

Under the terms of Measure V, the District Board must appoint an independent citizens’ oversight committee and conduct annual financial audits to ensure that all funds are spent properly. Measure V further provides that bond proceeds cannot be used for teacher or administrator salaries, pensions, or other operating expenses.

The Bonds’ interest rates cannot exceed the maximum rates set by law, as specified in the District Board’s Measure V Resolution No. 15-16 25. Principal and interest on the Bonds will be payable from the proceeds of tax levies made upon the taxable property in the District. Taxes would be in addition to the normal real property taxes levied on taxpayers in the District. The amount of the increased taxes each year will depend upon the amount needed to pay the principal and interest on the Bonds. The Tax Rate Statement for Measure V in the sample ballot pamphlet reflects the District’s best estimates, based upon currently available data and projections, of the property tax rates required to service the Bonds. The District estimates that the tax rate that will be necessary to fund this bond issue in the first and last years of such issuance will be $60.00 for every $100,000 of assessed valuation. The tax rate is estimated to average $58.48 for every $100,000 of assessed valuation and, in any given year, may not exceed $60.00 for every $100,000 of assessed valuation.

Approval of Measure V does not guarantee that the District projects specified in Measure V will be funded beyond the local revenues generated by the measure. The District’s proposal for the projects listed in Measure V may assume the receipt of matching state funds, which could be subject to appropriation by the Legislature or approval of a statewide bond measure.^[2]