Measure L (Nov. 2012)

The Board of Trustees of the Mt. Pleasant Elementary School District is committed to safe and secure schools with upgraded classrooms, libraries, science labs, restrooms and technology systems to keep pace with 21st century learning standards. The Board evaluated the District's urgent and critical facility needs, including safety issues, class size and computer and information technology and prepared a Facilities Needs Assessment and Master Plan ("Master Plan") dated May 2012 and incorporated herein and available at www.mountpleasant.k12.ca.us, in developing the scope of projects to be funded. The District conducted a facilities evaluation and received public input in developing this Project List. Teachers, staff, community members and the Board have prioritized the key health and safety needs so that the most critical facility needs are addressed. The Board concluded that if these needs are not addressed now, the problems will only become more pressing and expensive to address. Therefore, in approving this Project List and the Master Plan, the Board of Trustees determines that the District should:

1. renovate 40-year old restrooms that are so deteriorated, many children do not use them;
2. make schools safe from asbestos and other hazards;
3. repair dry rot, termite and other structural damage to our schools so children are safe;
4. repair or replace leaky roofs;
5. upgrade old wiring in order to bring our schools up to current safety standards; and
6. adhere to specific FINANCIAL ACCOUNTABILITY safeguards such as:
   1. Sacramento must be prohibited from taking any of the funds raised,
   2. All expenditures must be subject to annual independent financial audits

By Mariann Engle, Superintendent, Mount Pleasant Elementary School District

To: The voters voting in the November 5, 2012 election on the question of the issuance of $25,000,000 General Obligation Bonds of the Mount Pleasant Elementary School District.

You are hereby notified in accordance with Section 9401 of the Elections Code of the State of California of the following:

1. The best estimate from official sources of the tax rate which would be required to be levied to fund principal and interest payments during the first fiscal year after the first sale of bonds (Fiscal Year 2013-2014), based on assessed valuations available at the time of the election and taking into account estimated future growth, is the following:
   
   $.03000 per $100 of assessed valuation, which equates to $30.00 per $100,000.
2. The best estimate from official sources of the tax rate which would be required to be levied to fund principal and interest payments during the first fiscal year after the last sale of bonds and an estimate of the year in which that rate will apply, based on assessed valuations available at the time of the election and taking into account estimated future growth, is as follows:
   
   $.03000 per $100 of assessed valuation, which equates to $30.00 per $100,000.
   
   First fiscal year after last sale of bonds: 2025-2026
3. The best estimate from official sources of the highest tax rate which would be required to be levied to fund principal and interest payments on the bonds and an estimate of the year in which that rate will apply, based on assessed valuations available at the time of the election and taking into account estimated future growth, is as follows:
   
   $.03000 per $100 of assessed valuation, which equates to $30.00 per $100,000.
   
   Year of highest tax rate: Tax is projected to be the same every year.

The attention of all voters is directed to the fact that the foregoing information is based upon projections and estimates only. 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 date of sale and the amount of bonds sold at any given time will be determined by the District based on its need for construction funds and other factors. The actual interest rates at which the bonds will be sold will depend on the bond market at the time of sale. Actual future assessed valuations will depend upon the amount and value of taxable property within the District as determined by the County Assessor in the annual assessment and the equalization process. Accordingly, the actual tax rates and the years in which such rates are applicable may vary from those presently estimated as above stated.