849 / 58.9% Yes votes ...... 592 / 41.1% No votes

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Article XIII B of the California Constitution requires new entities to have an appropriations limit which essentially restricts expenditures from the proceeds of taxes (property taxes). A LAFCO condition of approval requires that for the new Cayucos Community Services District (CCSD) to become effective, Measure N- 04 (this measure) also be approved. Approval of this measure will allow the new CCSD to spend the funds it receives from the proceeds of taxes. The initial appropriations limit to be established by Measure N-04 would be set at an amount not to exceed the combined 2004-05 appropriations limits for the three dissolving districts.

In summary, a "yes" vote on this measure is a vote in favor of allowing the Cayucos Community Services District to spend funds from the proceeds of taxes transferred to it from the three dissolving districts, namely the Cayucos Fire Protection District, the Cayucos Sanitary District and County Service Area No. 10. A "no" vote on this measure is a vote against allowing the Cayucos Community Services District to spend the funds it receives from the proceeds of taxes.

The above statement is an impartial analysis of Measure N-04. The Full Text of the Measure is the question as it appears on the ballot.

s/ Paul L. Hood, Executive Officer
Local Agency Formation Commission