Measure E: Measure E – Center Joint Unified School District (Sacramento and Placer County)

In plain language

Measure E is a bond measure for Center Joint Unified School District. It would pay to upgrade schools and improve safety. It would fix leaky roofs and old pipes. It would fix heating and cooling systems. It would update science and job-training classrooms for a growing number of students. A YES vote lets the district borrow $197 million by selling bonds. It would be paid back through a property tax of about $60 per $100,000 of assessed value. That averages $12,300,000 a year while the bonds are unpaid. The measure requires citizen oversight and audits. All funds stay local. None can go to administrator salaries. A NO vote means the district cannot borrow this money.

Fiscal impact

The bond is $197 million, at legal interest rates. It would be paid back through a tax averaging about $60 per $100,000 of assessed value. This would average $12,300,000 each year while the bonds are outstanding.

Impartial analysis

The California Constitution and Education Code authorize school districts to issue bonds for specified purposes if approved by the voters within district boundaries. Measure E was placed on the ballot by the governing board of the Center Joint Unified School District (“District”). If approved, Measure E would allow the District to incur bonded indebtedness up to a maximum amount of $197 million dollars. The proceeds from the issuance and sale of such general obligation bonds could only be used for the acquisition, construction, reconstruction, rehabilitation and/or replacement, including furnishing and equipping of District facilities. Measure E lists the specific school facilities projects that the District intends to finance by the proposed bond sales. No funds derived from bond sales may be used for general school operating expenses, including administrator and teacher salaries or pensions, or for any purpose or project other than those expressly stated in the measure. To ensure that funds are spent only as specified in the measure, Measure E requires: 1) the appointment of a citizen’s oversight committee; and 2) completion of annual independent performance and financial audits. If Measure E is passed, the actual dates of sale and the amount of bonds sold would be governed by the District based on the need for construction funds and other factors. If Measure E is approved, the tax rates necessary for payment of principal and interest on any bonds sold will largely be dictated by the timing of the bond sales, the amount sold at a given sale, market interest rates at the time of each sale (although in no event greater than the maximum bond interest rate allowed by law), as well as actual assessed valuation of taxable property in the District over the term of repayment. The District’s Tax Rate Statement contains the best estimates of tax rates required to service the bond debt. The District estimates the average annual tax rate levy to fund this bond is $54.94 per $100,000 of assessed valuation. The final fiscal year in which the tax is anticipated to be collected will be 2068-69. The District estimates that the total amount repayable during the life of the bond, including principal and interest, is approximately $517 million dollars. Passage of Measure E requires approval by 55% of the voters voting thereon. A “YES” vote on Measure E means you wish to allow the District to issue bonds in an amount not to exceed $197 million dollars. A “NO” vote on Measure E means you do not wish to allow the District to issue the proposed bonds. “Approval of Measure E does not guarantee that the proposed project or projects in the Center Joint Unified School District that are the subject of bonds under Measure E will be funded beyond the local revenues generated by Measure E. The school 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.” ***YOU CAN FIND THE MEASURE ARGUMENTS FOLLOWING THE FULL TEXT OF THIS MEASURE***

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.