Voter's Edge California Voter Guide
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March 3, 2020 — Primary Election
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Special District

Pacific Grove Unified School District
Measure D Bond Measure - 55% Approval Required

To learn more about measures, follow the links for each tab in this section. For most screenreaders, you can hit Return or Enter to enter a tab and read the content within.

Election Results

Passing

5,155 votes yes (67.91%)

2,436 votes no (32.09%)

To replace outdated plumbing/electrical systems, upgrade fire alarms and emergency communication systems; repair/replace roofs and modernize classrooms at schools throughout the district, shall the Pacific Grove Unified School District measure authorizing $30 million of bonds be adopted with legal rates, yearly levies of less than 3 cents per $100 of assessed valuation through approximately 2039 (generating an average of $2.1 million dollars per year), annual audits, independent oversight and no estimated increase in current tax rates?

What is this proposal?

Measure Details — Official information about this measure

Tax rate

Superintendent, Pacific Grove Unified School District

An election will be held in the Pacific Grove Unified School District (the “District”) on March 3, 2020, to authorize the sale of up to $30 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 ElectionsCode 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 $0.025 per $100 of assessed valuation (or $25.00 per $100,000 of assessed value). The final fiscal year in which the tax is anticipated to be collected is 2038-39.

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 $0.0425 per $100 of assessed valuation (or $42.50 per $100,000 ofassessed value). It is estimated that such rate would be levied starting in fiscal year 2033-34 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 $38.5 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 thebonds 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.

Published Arguments — Arguments for and against the ballot measure

More information

News (1)

Pacific Grove to vote on $30 million bond for school maintenance — February 25, 2020 Monterey County Herald
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