A “YES” vote is in favor of authorizing the District to issue and sell $136,000,000 in general obligation bonds.
La Mesa Spring Valley School DistrictMeasure V Bond Measure - 55% Approval Required
La Mesa Spring Valley School District
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To repair old, outdated classrooms and school facilities, fix deteriorating roofs, plumbing and electrical systems, improve student safety and campus security, and upgrade classrooms, labs, facilities and technology to support achievement in science, math, reading, technology, arts and engineering, shall the La Mesa + Spring Valley School District measure authorizing $136,000,000 in bonds at legal rates be adopted, levying approximately 2.4 cents per $100 assessed value ($7,879,000 annually) while bonds are outstanding, with citizen oversight and all money staying local?
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 $136,000,000 in general obligation bonds.
Impartial analysis / Proposal
Source: Office of the San Diego County Counsel
LA MESA-SPRING VALLEY SCHOOL DISTRICT
BOND ELECTION
COUNTY COUNSEL IMPARTIAL ANALYSIS
This measure was placed on the ballot by the governing board of the La Mesa-Spring Valley School District (“District”). This measure, if approved by 55% of the qualified electors voting on this measure, will authorize the District to issue and sell general obligation bonds in an amount not to exceed $136,000,000. 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 could 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 $26.00 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 $260,000,000. 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 and as permitted by State law. Approval of this measure does not guarantee that any or all of 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 principal and interest 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 $136,000,000 in general obligation bonds.
A “NO” vote is against authorizing the District to issue and sell $136,000,000 in general obligation bonds.
Tax rate
David Feliciano, Superintendent, La Mesa-Spring Valley School District / San Diego Registrar of Voters
Published Arguments — Arguments for and against
Arguments FOR
PENDING - As of 9/20/2020, this measure's official arguments were not yet available from the San Diego County Registrar of Voters.
Arguments AGAINST
PENDING - As of 9/20/2020, this measure's official arguments were not yet available from the San Diego County Registrar of Voters.
Read the proposed legislation
More information
News (1)
Three school bond measures are on the Nov. 3 ballot in East County — October 20, 2020 San Diego Union Tribune
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Who supports or opposes this measure?
Yes on Measure V
Organizations (2)
- San Diego County Democratic Party
- San Diego County Taxpayers Association
Elected & Appointed Officials (0)
No on Measure V
Organizations (1)
- The Republican Party of San Diego County
Elected & Appointed Officials (0)
