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June 7, 2016 — California Primary Election

— Facilities Renovation and Modernization —

Special District
June 7, 2016 —California Primary Election

Walnut Creek School District
Measure D - 55% Approval Required

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Election Results

Passed

12,912 votes yes (73.08%)

4,756 votes no (26.92%)

  • 100% of precincts reporting (39/39).
  • 278,127 ballots counted.

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?

Information provided by Pros/Cons — League of Women Voters of California

The Question

 
Impartial analysis / Proposal

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 advalorem 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.
— http://www.cocovote.us/wp-content/uploads/Measure-D_WalnutCreekSD.pdf

Tax rate

An election will be held in the Walnut Creek School District (the “District”) on June 7, 2016, to authorize the sale of up to $60,000,000 in bonds of the District for the specific school facilities projects listed in the Bond Project List established by the District, as described in the proposition. If the bonds are authorized, the District expects to sell the bonds in one or more series. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property in the District. The following information is provided in compliance with Sections 9400-9404 of the Elections Code of the State of California.     (1) The best estimate of the tax rate that would be required to be levied to fund the bonds during the first fiscal year after the first sale of the bonds based on estimated assessed valuations available at the time of filing of this statement, is $17.30 per $100,000 of assessed valuation in Fiscal Year 2017-18.   (2) The best estimate of the tax rate that would be required to be levied to fund the bonds during the first fiscal year after the last sale of the bonds, based on estimated assessed valuations available at the time of filing of this statement, is $17.30 per $100,000 of assessed valuation in Fiscal Year 2022-23.   (3) The best estimate of the highest tax rate that would be required to be levied to fund the bonds, based on estimated assessed valuations available at the time of filing of this statement, is $17.30 per $100,000 of assessed valuation in Fiscal Year 2017-18.   (4) The best estimate of the average tax rate which would be required to be levied to fund the bonds during the life of the bonds, based on estimated assessed valuations available at the time of filing of thisstatement, is $17.30 per $100,000 of assessed valuation.   (5) The best estimate of the total debt service, including the principal and interest, that would be required to be repaid if all the bonds are issued and sold is $132,354,136. This estimates is based on assumptions regarding future interest rates and the term, timing, structure and amount of each series of bonds.   Voters should note that estimated tax rate is based on the ASSESSED VALUE of taxable property on Contra Costa County’s official tax rolls, not on the property’s market value. Property owners should consult their own property tax bills to determine their property’s assessed value and any applicable tax exemptions.   Attention of all voters is directed to the fact that the foregoing information is based upon the District’s projections and estimates only, which are not binding upon the District. The actual tax rates and the years in which they will apply may vary from those presently estimated, due to variations from these estimates in the timing of bond sales, the amount of bonds sold and market interest rates at the time of each sale, and actual assessed valuations over the term of repayment of the bonds. The dates of sale and the amount of bonds sold at any given time will be determined by the District based on need for construction funds and other factors. The actual interest rates at which the bonds will be sold will depend on the bond market at the time of each sale. Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined by the Contra Costa County Assessor in the annual assessment and the equalization process.   Dated: March 7, 2016.   Superintendent   Walnut Creek School District
— http://www.cocovote.us/wp-content/uploads/Measure-D_WalnutCreekSD.pdf

YES vote means

A “yes” vote authorizes the issuance of the bondsand 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.

NO vote means

A “no” vote on this measure disapproves the issuance of the bonds and the levy of the taxes for the bonded indebtedness.

Arguments FOR

Measure D will raise the funds needed to address specific needs at all of the schools in the Walnut Creek School District.   All of the schools in the District will benefit with the upgraded classrooms, libraries and computer networks needed to provide all students with 21st Century schools. Every Yes vote will continue our community’s investment in the schools that provide all our students with an educational environment that supports achievement and success.   Measure D provides funds to   Upgrade electrical and network wiring as needed at each of the District’s schools to improve student access to computers and technology.
Replace aging heating and cooling systems.
Repair or replace aging roofs.
Build new classrooms at Tice Creek School.
Improve the energy efficiency of classrooms and buildings.   Measure D provides for strict accountability. All of the funds will be monitored by a Citizens’ Oversight Committee. The committee must include a representative of a taxpayers’ organization, a senior citizen, a local business person and an active parent. No District employee, vendor, contractor or consultant may serve on the committee.   Measure D requires that the district conduct annual, independent performance audits to ensure that the bond proceeds are only spent on specific local school facility projects. By law, no funds can be spent on administrator or teacher salaries.   Our community has acted locally in the past to address local school needs. Now is not the time to wait on Sacramento.  No state funding is available for these critical renovations. We must provide our schools with reliable, local funds to renovate and modernize Walnut Creek’s schools.   It is important to make sure all of the District’s schools provide students with a safe, comparable learning environment.   Please Vote Yes on Measure D.   Kristina Lawson, Former Walnut Creek Mayor and Tice Creek School Parent   Tim Schultz, Former Walnut Creek Police Department Captain and Walnut Creek Education Foundation President   Sandy Ball, Former Walnut Creek School District Teacher  and Rossmoor Resident   Angela Borchardt, Former Walnut Creek School District Board Member and BART Marketing and Research   Robert Stankus, Walnut Creek Business Owner
— http://www.cocovote.us/wp-content/uploads/Measure-D_WalnutCreekSD.pdf

Arguments AGAINST

None Filed.

— http://www.cocovote.us/wp-content/uploads/Measure-D_WalnutCreekSD.pdf

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