Measure M: Measure M- Pleasant Ridge Union School District

In plain language

Measure M is a bond measure for Pleasant Ridge Union Elementary School District. A YES vote lets the district borrow $19,800,000 by selling bonds. The money would update local elementary and middle schools. It would replace leaky roofs and broken heating and cooling systems. It would improve student and school safety. It would fix mold and rot problems. It would also help the district qualify for matching state funds. A NO vote means the district does not get this money, and the projects do not happen. The money must stay local. It cannot pay administrator salaries. It requires citizen oversight and audits.

Fiscal impact

The bonds would be paid back by a property tax of about $22.50 per $100,000 of assessed value, generating on average $1,400,000 a year while the bonds are outstanding.

Impartial analysis

Measure M- Impartial Analysis Measure M was placed on the ballot by the Board of Trustees of the Pleasant Ridge Union Elementary School District (“District”). This Measure, if approved by 55% of voters voting on the Measure, would authorize the District to issue and sell up to $19,800,000 in general obligation bonds. The sale of these bonds by the District will raise money for the District and represent a debt of the District. In exchange for the money received from the bondholders, the District will promise to repay the bondholders, including interest, by tax collections for the years the bonds remain outstanding. The primary purpose of the bonds is to finance the specific school facilities projects specified in the Measure (reproduced in the sample ballot pamphlet). Bond proceeds may be used only for modernization, renovation, expansion, acquisition, 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. The bond proceeds may only be used for the purposes listed in the Measure. Approval of this Measure will authorize a levy on the assessed value of taxable property within the District in an amount necessary to pay the principal and interest on these bonds in each year they remain outstanding. The amount of increased taxes each year would depend upon the amount needed to pay the principal and interest on the bonds, the timing and the amount of bonds sold at each bond sale, and the assessed property valuations as determined annually by the County Assessor. The Tax Rate Statement for Measure M in this 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. Approval of the bond measure does not guarantee any particular project will be completed or funded beyond the local revenues generated by the Measure. California Constitution Article XIIIA exempts from the 1% property tax rate limitation ad valorem taxes to pay the interest and redemption charges on any bonded indebtedness for school facilities, when approved by 55% of the voters, if: (a) the proceeds from the sale of the bonds are used only for the purposes specified; (b) the District, by evaluating safety, class size reduction, and information technology, has approved a list of specific projects to be funded; and (c) the District conducts an annual independent performance audit. The District has made the ballot Measure subject to these requirements. If 55% of those voting on the Measure do not vote for approval, the Measure will fail and the District will not be authorized to issue the bonds. A ‘yes’ vote is a vote in favor of authorizing the Pleasant Ridge Union Elementary School District to issue and sell up to $19,800,000 in general obligation bonds. A ‘no’ vote is a vote against authorizing the Pleasant Ridge Union Elementary School District to issue and sell up to $19,800,000 in general obligation bonds. The above statement is an impartial analysis of Measure M. If you desire a copy of the measure, please call the Nevada County Elections office at [phone number omitted] and a copy will be mailed at no cost to you.

Official ballot arguments

Filed for the official voter guide by each side, printed as submitted.

The official arguments will appear here once both sides’ arguments are on file.