Corona-Norco Unified School District Bond Issue, Measure Gg (November 2014)

Shall Corona Norco Unified School District, serving areas of Corona, Norco and Eastvale, upgrade classrooms, science lands, computers, career-training technology to support high-quality instruction in math, science, engineering, technology/skilled trades, repair/replace leaky roofs, floors, plumbing/hazardous materials where needed, address overcrowding, improve student safety/security, repair, construct, acquire, equip classrooms, facilities/sites, by issuing $396 million in bonds, at legal rates, with citizen oversight, no administrator salaries, and all funds dedicated to improving local neighborhood schools? ^[2]

The Board of Education (“Board”) of the Corona-Norco Unified School District (“District”) by adopting Resolution No. 40 (“Resolution”), elected to call an election pursuant to Section 18 of Article XVI and Section 1 of Article XIII A of the California Constitution and Section 15100 and 15624 et seq. of the California Education Code to obtain authorization to issue and sell general obligation Bonds (“Bonds”) in the aggregate amount principal amount of three hundred ninety six millions dollars ($396,000,000).

This Measure was placed on the ballot by the Board of the above-identified District.

The Bonds would be used by the District to upgrade and rehabilitate existing school facilities, construct, acquire, repair and upgrade classroom sites and facilities with technology, repair and renovate existing school facilities, including roofing, plumbing, flooring and roofing infrastructure, improve safety and security at schools, and safety conditions in facilities and address overcrowding. The Bonds would not be used to fund the salaries or benefits of any board members, administrator, and/or teachers or for other school operating expenses.

If Measure “GG” is approved, the Board of the District will appoint a citizens’ oversight committee and conduct annual independent audits to assure that bond funds are spent only on 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, and for no other purposes.

An ad valorem tax would be levied and collected on property within the boundaries of the District to pay the principal and interest on the Bonds.

The Resolution provides that the maximum interest rate on the Bonds will not exceed the maximum interest rate permitted by the applicable laws of the State and the maximum term of the Bonds, or any series thereof, will not exceed 40 years.

Approval of Measure “GG” does not guarantee that the proposed project or projects in the Corona-Norco Unified School District that are the subject of the Bonds under Measure “GG” will be funded beyond the local revenues generated by Measure “GG”. The District’s proposal for the 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.

For this Measure to be approved fifty-five percent (55%) of qualified voters who vote on the Measure must vote yes.

A “YES” vote on Measure “GG” is a vote to allow the District to sell the Bonds and levy the necessary taxes to pay for the Bonds.

A “NO” vote on Measure “GG” is a vote against allowing the District to sell the Bonds and levy the necessary taxes to pay for the Bonds.^[2]