California law permits community college districts to issue bonds with the approval of 55 Percent of the voters. Such bonds may only be used for construction, reconstruction, rehabilitation or replacement of school facilities, including the furnishing and equipping of school facilities, or the acquisition of lease of real property for school facilities. These bonds are required to be paid by the levy of ad valorem taxes—a tax on the assessed value of property within a district.
The Board of Trustees (Board) of the San Jose-Evergreen Community College District (District) proposes to issue such bonds in the amount of up to $858,000,000 for the purposes of upgrading facilities preparing students and veterans for university transfer and careers like healthcare, technology, and emergency response, recruiting and retaining quality faculty by modernizing, repairing ageing classrooms, technology, science labs; and acquiring, constructing repairing facilities, equipment, and sites.
As identified in the Measure, projects may include by are not limited to:
· Upgrade outdated technology in classrooms and albs.
· Repair deteriorating water and sewer lines.
· Improve campus safety and security.
· Update campus facilities to improve disabled access.
· Replace outdated electrical and internet wiring.
· Repair classrooms and upgrade classrooms and labs for nursing, technology, and other vocational career education.
· Acquisition of a variety of instructional maintenance and operational equipment.
The project list also includes all of the projects that were authorized by Measure X, approved by the voters on November 8, 2016 and the refinancing of outstanding lease obligations and the funding of an endowment for technology and other authorized projects. Additional projects are listed in the full text of the measure. Projects costs include the costs of furnishing and equipping such facilities, and all costs that are incidental, but directly related to the types of projects described in the Measure.
The Board has certified that it has evaluated safety, class size reduction, and information technology needs in developing its project list.
By law, these bond funds cannot be used for teacher and administrator salaries or other school operating expenses. The District also must conduct independent annual performance and financial audits. State law requires the District to have an independent citizens’ oversight committee to help make sure bond funds are spent only for projects included in the Measure.
The District’s stated best estimate of the highest tax rate to be levied to repay the proposed bonds is $17.50 per $100,000 of assessed value. The District estimates that the total debt service during the life of the bond, including principal and interest, will be approximately $1.74 billion.
Measure J was placed on the ballot by the Board.
A “yes” vote is a vote to authorize the issuance of the bonds in the amount of up to $898,000,000 to be secured by the levy of ad valorem taxes on property located within the District.
A “no” vote is a vote to not authorized the issuance of the bonds.