Homework! First Reading of Cabrillo Unified School District Ballot Language for Potential November 2024 Parcel Tax ($185) and $153M GO Bond Measures

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VIDEO. From the Cabrillo Unified School District (CUSD) Trustees meeting on Thursday, April 11th, 2024 at 6:00pm, in person comments only.

Intended for the November 5th, 2024 General Election.

 

NOTE: For the November 2024 $153M Bond proposal “The best estimate from official sources 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 will be approximately $269.5 million.” Exhibit C “Tax Rate Statement” (scroll down)

 

CUSD Parcel Tax and GO Bond History

Measure B Parcel Tax (June 2014) (Ballotpedia)

Measure E Parcel Tax (June 2010) (Ballotpedia)

 

Measure S Bond  ($81M June 2012)  Five years for a parcel tax of $150 per parcel per year. (Ballotpedia)

Measure M Bond  ($99M June 2018) Five years for a parcel tax of $150 per parcel per year. (CUSD)

 

 

 

Agenda Item F ~ First Reading of Ballot Language for Potential Parcel Tax and GO (General Obligation) Bond Measures

From the CUSD Board meeting on April 11th, 2024

 

BACKGROUND INFORMATION

In October 2023, two surveys of local voters were conducted to gauge public opinion on a replacement parcel tax and a new bond measure. The first survey was conducted from October 11th to October 16th, 2023 and it measured voter attitudes on a possible new GO bond measure.

The second survey was conducted from October 23rd through October 26th, 2023, and it focused on a potential new replacement parcel tax measure.

The two surveys were managed by Dale Scott & Company (DS&C), the District’s financial advisor. On March 14, 2024, a representative from DS&C summarized the key findings of these surveys.

Tonight DS&C will present a first reading of ballot language created for a potential 2024 replacement parcel tax and a potential 2024 bond measure for CUSD facilities needs.

There is no financial impact to the General Fund.

 

RECOMMENDATION

Staff recommend that the Governing Board now review and discuss this potential ballot language as a first reading before this ballot language is brought back for approval at a subsequent Board Meeting in June as was recommended at the last regularly scheduled Board Meeting in March 2024.

 

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November 5th, 2024 CUSD General Obligation (GO) Bond Summary

Needs 55% vote to pass.

BALLOT LABEL (Exhibit A)

With funds that cannot be taken by the State and spent elsewhere, shall Cabrillo Unified School District’s measure to ensure access for disabled individuals; construct teacher /staff housing; and provide early education classrooms at Hatch Elementary, El Granada Elementary, Farallone Elementary, Kings Mountain Elementary, Cunha Intermediate and Half Moon Bay High be adopted, authorizing $153.4 million of bonds with average levies below $55 per $100,000 of assessed valuation (raising $8,700,000 annually while outstanding), legal rates, citizen oversight, state matching funds eligibility, audits, and full public disclosure of spending?

Full Ballot Text: Exhibit B.  (scroll down)

 

The best estimate from official sources 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 will be approximately $269.5 million.  

 Exhibit C “Tax Rate Statement” (scroll down)

 

Proceeds from the sale of Bonds authorized by this proposition shall be used only for the construction, reconstruction, rehabilitation or replacement of school facilities on the Bond Project List, including the furnishing and equipping of said school facilities, or the acquisition or lease of real property for said school facilities, and not for any other purpose, including teacher and administrator salaries and other school operating expenses.”

Exhibit B, Page B-5

 

The duration of the collection of the ad valorem tax is expected to be (a) up to 30 years for each series of bonds authorized under the bond measure and (b) approximately 32 years from the date of issue of the first such series of bonds.  Projection based on experience within the same jurisdiction or other demonstrable factors, is estimated to be $54.19 to $60.00 per $100,000 of assessed valuation in fiscal year 2025-26 through 2049-50.

Exhibit C

 

Will establish an independent Citizens’ Bond Oversight Committee to ensure that bond proceeds are expended only for the school facilities projects described in the Bond Project List.

Exhibit B Page B-1

 

Measure S Bond  ($81M June 2012) (Ballotpedia)

In 2012, district voters approved Measure S, which authorized an $81 million school bond. The bond debt from Measure S was designed to be paid off by 2058. District taxpayers were set to spend an annual $45 per $100,000 on this previous bond issue until it expired.

 

Measure M Bond  ($99M June 2018) (CUSD)

Measure M is a 99 million dollar facilities bond, to repair or rebuild our facilities. The debt will be repaid over a 40-year period and is assessed at an annual rate of about $52 per $100,000 of assessed property value.

 

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November 5th, 2024 CUSD Parcel Tax Summary

Needs 66.67% vote to pass.

BALLOT LABEL (Exhibit A)

With funds that cannot be taken by the State and spent elsewhere, shall Cabrillo Unified School District’s replacement parcel tax be adopted, raising $2 million per year to attract and retain top-tier educators; increase teacher/ staff wages; expand Science, Technology, Engineering, Arts and Math, and career and college preparation programs at Alvin Hatch Elementary, El Granada Elementary, Farallone View Elementary, Kings Mountain Elementary, Cunha Intermediate and Half Moon Bay High at $185 per parcel for eight years with senior citizen exemptions and full public disclosure of all spending?

Full Ballot Text: Exhibit B (scroll down)

Exemptions: Exhibit B, Page B-3

 

Retain skilled, experienced, and dedicated teachers for strong academic programs in: 

• Reading and writing 
• Science, technology, engineering, arts, and math (STEAM) 
• Advanced Placement
• Other specialized instruction

Exhibit B, Page B-2

 

Measure B Parcel Tax (June 2014) (Ballotpedia)

CUSD Parcel Tax, Measure B ballot question was on the June 3, 2014 election ballot for voters in the Cabrillo Unified School District in San Mateo County, California, where it was approved. Measure B authorized the district to renew for five years a parcel tax of $150 per parcel per year.

 

Measure E Parcel Tax (June 2010) (Ballotpedia)

This tax, which was renewed by Measure B, authorized a parcel tax in the district of $150 per parcel per year. The proposed tax was a $150/parcel each year for five years.

 

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Agenda Item E ~ Bond Program Update for 2012 Measure S (June 2012) & Measure M (June 2018)

From the CUSD Board meeting on April 11th, 2024

On June 5, 2012, Cabrillo USD (CUSD) voters approved Measure S, an $81,000,000 bond authorization for the acquisition, construction, improvement, furnishing, and equipping of school facilities.

On June 5, 2018, CUSD voters approved Measure M, a $99,000,000 bond authorization for updating of classrooms and science labs, essential safety repairs, fixing leaky roofs, equipping classrooms with technology, replacing/repairing heating and plumbing, and constructing and
equipping classrooms.

 

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Measure S and Measure M Bond Spend History

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Cabrillo Unified School District (CUSD) Trustee Meetings ~ 2nd Thursday @ 6:00pm

 

The Cabrillo Unified School District School Governing Board is comprised of five school board members who are elected by the local community. The role of the school board is to provide leadership and oversight of the district. The Board ensures that the district is responsive to the values, beliefs, and priorities of the community.

The term of office for school board members elected in regular elections is four years, beginning on the second Friday in December after their election.  The board meets at least once a month at the District Office, 498 Kelly Avenue, Half Moon Bay. Meetings are open to the public and are usually held on Thursday nights at 6 pm.  A portion of the board meeting consists of a “closed” session for the purpose of discussing confidential matters, such as personnel or student issues.

 

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SEAN MCPHETRIDGE
Superintendent
[email protected]

ROSIE ACOSTA
Administrative Assistant to the Superintendent
[email protected]
(650) 712-7112