A “YES” vote is in favor of authorizing the District to issue and sell $33,000,000 in general obligation bonds.
Lakeside Union Elementary School DistrictMeasure R Bond Measure - 55% Approval Required
Lakeside Union Elementary School District
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To increase student safety and school security; repair aging classrooms and schools including outdated plumbing, electrical wiring, roofs and heating/ air conditioning; replace portables with permanent classrooms; renovate classrooms and qualify for State matching funds, shall Lakeside Union School District's measure authorizing $33 million of bonds with annual audits, legal rates, projected yearly levies less than $0.03 per $100 of assessed valuation while bonds are outstanding (generating $2.2 million per year) and taxpayer oversight be approved?
What is this proposal?
Details — Official information
YES vote means
NO vote means
A “NO” vote is against authorizing the District to issue and sell $33,000,000 in general obligation bonds.
Impartial analysis / Proposal
Source: San Diego County Registrar of Voters
COUNTY COUNSEL IMPARTIAL ANALYSIS
This measure was placed on the ballot by the governing board of the Lakeside Union School District (“District”). This measure, if approved by 55% of the qualified electors voting on the measure, will authorize the District to issue and sell general obligation bonds in an amount not to exceed $33,000,000. If approved, the bonds may be issued in several series and may mature in 40 years or such shorter period as determined by the District Board. The interest rate on the bonds would not exceed statutory limits.
Approval of this measure will authorize a levy on the assessed value of taxable property within the District in an amount needed to pay the principal and interest on the bonds each year the bonds are outstanding. The Tax Rate Statement submitted by the District estimates the highest tax rate which would be required to be levied to fund this bond issue is $30.00 for every $100,000 of assessed valuation and the total debt service, including principal and interest, required to be repaid if all the bonds are issued and sold is approximately $59,900,000. These amounts are estimates. Actual amounts may vary depending on the timing of sales, amount of bonds sold at each sale, and assessed valuation.
Proceeds from the sale of bonds authorized by this measure can only be used for purposes described in the full text of this measure, as permitted by State law. Approval of this measure does not guarantee that the proposed projects identified by the District will be funded by the sale of the bonds. The District’s proposal for certain projects may assume receipt of matching State funds subject to appropriation by the Legislature or approval of a statewide bond measure.
The California Constitution permits property taxes, above the standard 1% limitation, to be levied upon real property to pay the interest and redemption charges on any bonded indebtedness for, among other things, the construction, reconstruction, rehabilitation, or replacement of school facilities, including the furnishing and equipping of school facilities, when approved by 55% of the voters if:
(1) the proceeds from the sale of the bonds are used only for the purposes specified,
(2) the District evaluates safety, class size reduction, and information technology needs to approve a list of specific projects to be funded,
(3) the District conducts an annual, independent performance audit to ensure funds have been expended on the specific projects listed, and
(4) the District conducts an annual, independent financial audit of bond proceeds.
Additionally, if the bond measure is approved, State law requires the District to establish an independent citizens’ oversight committee. The District has made the issuance of the bonds in this measure subject to these legal requirements.
A “YES” vote is in favor of authorizing the District to issue and sell $33,000,000 in general obligation bonds.
A “NO” vote is against authorizing the District to issue and sell $33,000,000 in general obligation bonds.
Tax rate
Source: San Diego County Registrar of Voters
TAX RATE STATEMENT
REGARDING PROPOSED
$33 MILLION
LAKESIDE UNION SCHOOL DISTRICT
GENERAL OBLIGATION BONDS
An election will be held in the Lakeside Union School District (the “District”) on March 3, 2020, to authorize the sale of up to $33 million in bonds of the District to finance school facilities as described in the measure. If such bonds are authorized and sold, principal and interest on the bonds will be payable only from the proceeds of ad valorem 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. Such information is based upon the best estimates and projections presently available from official sources, upon experience within the District, and other demonstrable factors.
Based upon the foregoing and projections of the District’s assessed valuation, the following information is provided:
1. The best estimate of the average annual tax rate which would be required to be levied to fund this bond issue over the entire duration of the bond debt service, based on a projection of assessed valuations available at the time of filing of this statement, is $0.029 per $100 of assessed valuation (or $29.00 per $100,000 of assessed value). The final fiscal year in which the tax is anticipated to be collected is 2049-50.
2. The best estimate of the highest tax rate which would be required to be levied to fund this bond issue, based on a projection of assessed valuations available at the time of filing of this statement, is $0.030 per $100 of assessed valuation (or $30.00 per $100,000 of assessed value). It is estimated that such rate would be levied starting in fiscal year 2021-22 and following.
3. 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 approximately $59.9 million.
Voters should note the estimated tax rate is based on the assessed value (not market value) of taxable property on the County’s official tax rolls. In addition, taxpayers eligible for a property tax exemption, such as the homeowner’s exemption, will be taxed at a lower effective tax rate than described above. Property owners should consult their own property tax bills and tax advisors to determine their property’s assessed value and any applicable tax exemptions.
The attention of all voters is directed to the fact that the foregoing information is based upon projections and estimates only, which amounts are not maximum amounts and are not binding upon the District. The actual debt service, tax rates and the years in which they will apply may vary from those used to provide the estimates set forth above, due to factors such as variations in the timing of bond sales, the par amount of bonds sold and market interest rates available at the time of each sale, actual assessed valuations over the term of the bonds, and other factors. The date and amount of bonds sold at any given time will be determined by the District based on the need for project funds and other considerations. The actual interest rates at which the bonds will be sold will depend on conditions in the bond market at the time of sale. Actual future assessed valuations will depend upon the amount and value of taxable property within the District as determined by the County Assessor in the annual assessment and the equalization process.
By: Andrew S. Johnsen, Ed.D.
Superintendent
Lakeside Union School District
Published Arguments — Arguments for and against
Arguments FOR
ARGUMENT IN FAVOR OF MEASURE R
Vote YES on Measure R!
Our local public schools – Eucalyptus Hills, Lakeside Farms, Lakeview, Lemon Crest, Lindo Park, Riverview and Winter Gardens Elementary and Tierra del Sol and Lakeside Middle – are among our community’s most valuable investments and require our continued protection and care.
Lakeside Union Elementary School District’s Measure R will give us the financial tools to improve, upgrade, rehabilitate and expand our children’s classrooms as well as make critical safety improvements to schools throughout the district.
Student Safety, Campus Security and School Repair
Measure R projects will include:
- Repairing and replacing leaking roofs and outdated plumbing
- Upgrading outdated heating, ventilation and air conditioning
- Replacing aging portable classrooms
- Improving student safety and campus security
- Replacing outdated electrical wiring
- Upgrading fire alarm and emergency communication systems
Taxpayer Protections
Measure R will protect taxpayers by:
- Qualifying for state matching funds
- Requiring annual audits and independent taxpayer oversight of the funds
- Prohibiting funds from going to administrators' salaries, pensions or benefits
- Making sure that funds are used locally and not taken by the state and spent elsewhere
Vote YES on Measure R
To upgrade student safety, repair and construct classrooms, and enhance local property values and home prices by improving our local schools, please join parents, teachers, grandparents, guardians, neighbors, business owners and community leaders by voting YES on Measure R!
KARI KOCH
Lakeside Resident,
LUSD Teacher of the Year
GARY E. MITROVICH
Lakeside Resident,
Retired Police Officer
ROB HARDING
Vice President,
Lakeside Historical Society
TERRY BURKE-EISERLING
Chairperson,
Lakeside Friends of the Library
JOHN V. BUTZ
LUSD Board Member,
Retired Fire Fighter
— Source: San Diego County Registrar of Voters
Arguments AGAINST
ARGUMENT AGAINST MEASURE R
No on Measure R, a potential $33 million property tax increase for the Lakeside Union School District. The District's use of the funds should be carefully scrutinized.
Almost $2 million of bond funds will go to pay for items not related to school construction, including school buses and furniture.
- School district officials want to use the taxpayer as a credit card to pay for items with decades-long financing on items that will only last a few short years.
- If this tax increase is approved, your children will continue to pay for debt on buses that will have long been retired into the scrap yard.
Additionally, the construction costs included 40% of funds not directly associated with construction, but for management and staff of overseeing the projects.
The San Diego County Taxpayers Association has carefully analyzed this proposal and recommends DO NOT SUPPORT. The District has failed to demonstrate appropriate planning for the proposed bond program, and the use of funds is fiscally irresponsible.
Visit www.sdcta.org to review the detailed analysis of Measure R by the San Diego County Taxpayers Association, as well as their recommendations on other local and state ballot measures.
HANEY HONG
President & CEO,
San Diego County Taxpayers Association
FRANK I. HILLIKER
President,
Hilliker's Ranch Fresh Eggs
ANDREW HAYES
Governing Board Member,
Lakeside Union School District
— Source: San Diego County Registrar of Voters
Replies to Arguments FOR
[No rebuttal to the Argument in Favor was submitted.]
— Source: San Diego County Registrar of Voters
Replies to Arguments AGAINST
REBUTTAL TO ARGUMENT AGAINST
PROTECT OUR CHILDREN. IMPROVE OUR SCHOOLS.
While we have long admired the San Diego County Taxpayers Association, their analysis of Lakeside Union Elementary School District’s Measure R is simply wrong. Even they admit that now and had to rewrite and reissue their report after it was published.
The facts:
Ensuring our children’s safety is job #1.
A small but vocal minority seems intent on reducing funding to our schools without regard for the impact on the future of our children. But there can be no compromise on student safety. Our children need secure campuses and safe classrooms.
Our schools need to be repaired.
From outdated plumbing to modernizing aging classrooms, Measure R will repair schools throughout the District.
Measure R is fiscally prudent.
The District’s Board of Trustees has worked for over a year to develop a fiscally prudent strategy that avoids the use of capital appreciation bonds and matches the repayment of the bonds to the useful life of each asset.
Strict taxpayer safeguards and citizen oversight will continue without interruption.
Every Measure R project will be thoroughly analyzed by the District’s Board of Trustees and professional auditors. An independent committee of local citizens is already in place to review the spending of each and every Measure R dollar.
If our students are to excel, they must have access to safe classrooms that meet today’s educational standards. Measure R will allow us to achieve this goal and deserves your support.
Vote YES on Measure R!
JOHN V. BUTZ
LUSD Board Member
Retired Fire Fighter
BONNIE LACHAPPA
Governing Board Member,
Lakeside Union School District
HOLLY FERRANTE
Governing Board Member,
Lakeside Union School District
RHONDA TAYLOR
Governing Board Member,
Lakeside Union School District
— Source: San Diego County Registrar of Voters
Read the proposed legislation
Proposed legislation
A typeset version of the full text of Measure R is available from the San Diego County Registrar of Voters, here:
https://www.sdvote.com/en/election/march-2020-primary/Measures/Measure_R.pdf
More information
News (1)
Lakeside Union School District and Proposition R — February 12, 2020 San Diego Union-Tribune
Additional Resources (2)
More Campaign Finance Info
CampaignDocs eRetrieval (Search by Ballot Item) — San Diego County Registrar of Voters
Enter Election Type "Primary", Election Date "03/03/2020". In the "Ballot Item" pull-down menu, scroll down to "MEASURE R".
More Nonpartisan Resources
SDCTA Policy Report on the Lakeside Union School District's $33 Million Bond Measure — San Diego County Taxpayers Association
A detailed explanation of why the SDCTA does not support this measure.
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Who supports or opposes this measure?
Yes on Measure R
Organizations (1)
Elected & Appointed Officials (0)
No on Measure R
Organizations (2)
Elected & Appointed Officials (0)
