General Obligation Bond

Measure Y is a $98 million general obligation bond authorization that will: 

• Provide career and technical education classrooms to improve student access to good-paying jobs immediately following high school. 

• Replace portable classrooms with permanent facilities.

• Construct and improve classrooms and support facilities, including a stadium, an all-weather track, and playfields. 

• Improve student access to computers and modern technology.

• Provide renewable energy improvements to reduce annual operating costs.

G.O. bonds fund the construction, reconstruction, rehabilitation, or replacement of school facilities, including the furnishing and equipping of schools. Similar to a home loan, G.O. bonds are repaid over time. 

The loan repayment comes from a tax on all property located within the District's boundaries. The tax rate for repayment is determined by the assessed valuation, not market value.

Assessed valuation is the value placed on the property by the County pursuant to Proposition 13 and is typically lower than the market value for which a property may be sold. 

The proposed bond measure being considered would be structured to extend the District's existing G.O. Bond and is not expected to increase the taxes currently being paid by voters. 

State law requires a detailed list of all projects. Only projects identified on the detailed project list may be funded from the measure. In addition, the proposed measure includes guaranteed annual audits and an independent oversight committee to ensure money is used only for voter-approved school improvements and repairs and not used for teacher salaries, administration, or overhead. 

The General Fund is budgeted in large part on annual funds from the State to cover the ongoing costs of running our schools, including teacher salaries, and does not provide sufficient funds for school repair and construction needs. State law prohibits the use of lottery funds for the repair or construction of school facilities. The District will leverage bond funds with matching state grant funds whenever possible.