Majorities Get Behind Bond Sales in Multiple School Districts
Voters in five cities scattered throughout Riverside County appeared set to approve proposed bond sales for school infrastructure upgrades and improvements totaling $1.12 billion, which would translate to higher property tax rates in the municipalities while the IOUs are paid off.
Early returns Tuesday night revealed nearly two-thirds' support for Measure O in Banning, which seeks a $74 million bond sale for the benefit of the Banning Unified School District. The cumulative debt service, or payoff, period would run 30 years and translate to a total $135 million in principal and interest before all the obligations are satisfied, according to campaign literature.
The amortization would require, at minimum, an additional $51 per $100,000 of assessed valuations for single-family homes, condominiums, businesses and other properties, according to literature.
Supporters said the funds are needed for modernization of the district's communications network, seismic reinforcements, new dining facilities at all grade levels, landscaping and irrigation improvements. There was no listed opposition to the proposal, which requires 55% voter approval.
In the Beaumont Unified School District, the fate of Measure E was less certain, with 52% of voters backing it in the early count. The measure would authorize the sale of up to $148 million in general obligations bond benefiting the district. The cumulative debt service period would run 30 years and translate to a total $303.12 million in principal and interest before all the obligations are satisfied, according to campaign literature.
The amortization would require an additional $28 per $100,000 of assessed valuations for houses, condominiums, businesses and other properties, according to documents.
Along with infrastructure improvements, the funding would enable the district to move forward with construction of new school buildings, supporters said.
"Crowded schools are unsafe and limit one-on-one time with teachers," proponents wrote. "With so many students crammed into one school, it is difficult for students to get into classes, sports or other activities. That is why we need Measure E. It provides a dedicated, locally controlled source of funding that can only be spent here in our schools."
There was no listed opposition. The proposal requires 55% approval.
Measure T in the Lake Elsinore Unified School District enjoyed 58% support in the early count. It would authorize the sale of up to $198 million in bonds. The cumulative debt service period would run close to 40 years and translate to an estimated total $396 million in principal and interest before the obligations are satisfied — provided there's a market for all of them — according to campaign literature.
As in Beaumont, the LEUSD debt amortization would require an additional $28 in taxes per $100,000 of assessed valuations for property owners.
The school board would have discretion over what to fund under the "District-Wide 21st Century Instructional Technology Program," supporters wrote. Examples include renovations of computer labs, new lighting and electrical systems, new furnishings, windows and doors.
"For our students to succeed in college and careers, they must be skilled in the use of today's technologies and have a solid background in science, math, engineering and technology," proponents wrote. "Measure T will continue to make this possible."
The proposal has a 55% approval requirement.
About two-thirds of voters in the Moreno Valley Unified School District appeared on the side of Measure X, according to the initial ballot count. The proposal seeks the sale of up to $240 million in bonds. The cumulative debt service period would last 30 years and translate to an estimated total $469.74 million in principal and interest before the obligations are satisfied, according to campaign literature.
The debt amortization would necessitate $40 in taxes per $100,000 of assessed valuations for property taxpayers, according to documents.
The school district would be able to use the money for classroom and lab renovations and upgrades, rehabilitated playgrounds, solar panel acquisitions, electrical, fire alarm and athletic field repairs, as well as other needs.
"Many of our neighborhood schools were built 30-60 years ago and require priority repairs and updates to support high-quality instruction in science, technology, engineering, arts and math," proponents said.
Opponents countered that saddling "retired residents, small business owners, families" and other property taxpayers with the higher bills that the bond issuance would impose "is irresponsible."
"Ten years ago, the residents barely passed a $398 million bond that promised the same results," they said. "But instead of spending the money on the needs of our students ... they spent the funds on items that last only three years."
The proposal has a 55% approval requirement.
The Palm Springs Unified School District's Measure S was on a path to passage Tuesday, netting more than 70% of votes cast, with almost 50% of ballots tabulated. It would enable the sale of up to $465 million in bonds. The cumulative debt service period would run 25 years and translate to an estimated total $722.5 million in principal and interest before the obligations are satisfied, according to campaign literature.
The debt amortization would require $39 in taxes per $100,000 of assessed valuations for property taxpayers, according to documents.
Funds would pay for modernization projects, improvements to schools' libraries and theaters, replacement of parking lots, serving areas, driveways and walkways, as well as enhanced security systems.
"Our local schools are the backbone of our community," proponents wrote. "They ensure the safety of our children, prepare them for successful futures and enhance the value of our homes and businesses."
The proposal has a 55% voter approval requirement.
