League of Women Voters of California Education Fund
	San Joaquin County, CA November 6, 2012 Election
	Measure E School Bond Reauthorization Stockton Unified School District 55% Approval Required Pass: 31360 / 74.47% Yes votes ...... 10751 / 25.53% No votes See Also: Index of all Measures

Arguments For Measure E

In February 2008, Stockton Unified School District voters overwhelmingly passed a general obligation bond to improve our children's schools. Since that time, tremendous improvements have been made in repairing and rehabilitating our children's schools and classrooms. But much remains to be done. Measure E will reauthorize $156 million of the previously approved 2008 bonds. By voting YES on Measure E, we can continue to improve our local elementary schools and high schools while at the same time saving millions of taxpayer dollars. Measure E will let Stockton USD continue the job of improving our children's schools by modernizing and updating existing elementary schools and high schools; upgrading, improving and constructing athletic fields, playfields, and playgrounds; constructing additional classrooms; and upgrading and modernizing aging classrooms. Additionally, Measure E will allow Stockton USD to continue to upgrade and repair restrooms and plumbing throughout the District, replace temporary portable classrooms, and construct and renovate school facilities throughout the District. Measure E makes financial sense and has taxpayer protections in place. By reauthorizing the 2008 bonds, the District can borrow at much lower interest rates, saving taxpayers millions of dollars in interest and the reauthorized bonds will not cause any increase in total District debt. Funds can only be spent on improving Stockton's schools and facilities and cannot be spent on administrator salaries, pensions, or benefits. Additionally, all expenditures must be reviewed by an independent citizens' oversight committee and annually audited. All funds must be used to improve our children's schools and cannot be taken away by the state and spent elsewhere. Measure E will improve our children's schools. It will help protect our community, improve housing values, save taxpayers millions of dollars in interest and stimulate our local economy. Plese join us by voting YES on Measure E! Submitted by: /s/ Frank L. Ruhstaller, Supervisor, District 2, San Joaquin County Board of Supervisors; Diane Vigil, Board Member, Greater Stockton Chamber of Commerce; Jose R. Rodriguez, President/CEO, El Concilio; Edward I. Leland, Chairperson, Measure C/Measure Q Citiznes Oversight Committee; Gloria Nomura, Former Vice Mayor, City of Stockton (No arguments against Measure E were submitted)

Tax Rate Statement from Dr. Steven Lowder, Superintendent, Stockton Unified School District

An election will be held in the Stockton Unified School District (the "District") on November 6, 2012, to authorize the sale of up to $156,000,000.00 in bonds of the District to continue improving the quality of education in local schools. Specifically, bond proceeds shall be utilized for the purposes of increasing student computer/technology access; expanding vocational education facilities; and acquiring, construction and modernizing classrooms and school facilities throughout the District. If bonds are authorized and sold, debt service thereon will be payable from the proceeds of tax levies made upon the taxable property in the District. The following information is provided in compliance with Sections 9400-9404 of the Election Code of the State of California. 1. The best estimate of the tax which would be required to be levied to fund this bond issue during the first fiscal year after the sale of the first series of bonbds, based on estimated assessed valuations available at the time of filing of this statement, is 6-cents per $100 ($60.00 per $100,000) of assessed valuation in fiscal year 2013-2014. 2. The best estimate of the tax which would be required to be levied to fund this bond issue during the first fiscal year after sale of the last series of bonds, based on estimated assessed valuations available at the time of filing of this statementm, is 6-cents per $100 ($60.00 per $100,000) of assessed valuation in fiscal year 2019-2020. 3. The best estimate of the highest tax rate which would be required to be levied to fund this bond issue, based on estimated assessed valuations available at the time of filing of this statement, is 6-cents per $100 ($60.00 per $100,000) of assessed valuation in fiscal year 2013-2014. 4. The best estimate of the average tax rate which would be required to be levied to fund this bond issue during the life of the bonds, based on estimated assessed valuations available at the time of filing of this statement, is 6-cents per $100 ($60.00 per $100,000) of assessed valuation. Voters should note that the estimated tax rates are based on the ASSESSED VALUE of taxable property on the County's official tax rolls, NOT on the property's market value. Property owners should consult their own property tax bills to determine their peoperty's assessed value and any applicable tax exemptions. Attention of all voters is directed to the fact that the foregoing information is based upon the District's projections and estimates only, which are not binding upon the District. The actual tax rates and the years in which they will apply may vary from those presently estimated, due to variations from these estimates in the timing of bond sales, the amount of bonds sold and market interest rates at the time of each sale, and actual assessed valuations over the term of repayment of the bonds. The dates of sale and the amoung of bonds sold at any given time will be determined by the District based on the need for construction funds and other factors, including the legal limitations on bonds approved by a 55% vote. The actual interest rates at which the bonds will be sold will depend on the bond market at the time of each sale. Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined by the Countty Assessor in the annual assessment and the equalization process. Dated: July 10, 2012

Full Text of Measure E

Bond proceeds will be expended to modernize, replace, renovate, construct, acquire, equip, rebuild and furnish the District's facilities as described in the following list. Whenever specific items are included in the following list, they are presented to provide an example and are not intended to limit the generality of the broader description of authorized projects. The facilities and improvements to be financed by the bonds issued for the District include the moderization, replacement, renovation, construction, acquisition, equipping, furnishing, and other improvements to the District's schools and facilities. Such projects shall include: Replacement of portable classrooms with permanent classrooms Construction, repair, renovation, acquisition, furnishing, equipping and/or remodeling of facilities and classrooms throughout the District Upgrading, improving and constructing athletic fields, hard courts, playgrounds, playfields and equipment throughout the District District voters previously approved Measure Q at an election held in the District on February 5, 2008. However, due to State law limitiations imposed on the issuance of bonds under Measure Q, the District estimates that it will be unable to issue any additional Measure Q bonds in the immediate future. The Governing Board of the District has found and determined that there continues to be an urgent need in the District for the completion of the educational projects approved by District voters under Measure Q, and that no other District resources are available to finance such projects. If the bonds are approved and issued, the Governing Board of the District has covenanted that it will cancel and shall not authorize the issuance of Measure Q bonds in a like amount. Approval of the District's bond measure does not guarantee that the Projects that are the subject of the measure will be funded beyond the local revenues generated by the bond measure. The District's proposed Projects may assume the receipt of state funds, which could be subject to appropriation by the Legislature or approved at a statewide bond measure. Additionally, the Stockton Unified School District shall establish a Citizens Oversight Committee (the "Committee")and will appoint the members of the Committee to be made up of a minimum of seven members comprised of at least the following: one member shall be active in a business organization representing the business community located within the District, one member shall be active in a senior citizens' organization, one member shall be active in a bona fide taxpayer's organization, one member shall be the parent or guardian of a child enrolled in the District, one member shall be both a parent or guardian of a child enrolled in the District and active in the parent-teacher organization. The District shall cause the proceeds of the bond to be deposited in a separate account. The District shall annually cause to be prepared financial and performance audits related to the expenditure of the bond proceeds to ensure funds have only been expended on the specific Projects listed. The District shall also cause an annual report to be prepared by the District's Chief Business Official, containing a status report of all the authorized Projects and containing the amoung of funds collected and expended.