Approval of Measure HS (“Measure”) would authorize the Board of Trustees (“Board”) of the El Monte Union High School District (“District”), which placed the Measure on the ballot by Resolution No. 01-18/19, to issue general obligation bonds in an amount not to exceed $190,000,000.
Proceeds from the sale of bonds authorized by the Measure shall be used only for the purposes specified in the Measure, including, but not limited to, repairing or replacing roofs; upgrading fire-safety systems, including safety doors, smoke alarms and smoke detectors; improving access for disabled students; expanding and/or upgrading science, engineering, and computer labs; repairing and/or replacing plumbing and electrical systems; removing hazardous materials; upgrading heating, ventilation, and air-conditioning systems; repairing school buildings, including bathrooms and classrooms; expanding vocational and career classrooms, and instructional technology; upgrading emergency-communication systems; and installing security cameras and monitoring systems. Bond proceeds may be used to pay or reimburse the District for the cost of District staff when performing work on, or necessary or incidental to, bond projects. Bond proceeds may not be used for teacher or administrator salaries or other operating expenses.
The Board shall cause independent performance and financial audits to be conducted annually to ensure that bond proceeds are spent only for projects identified in the Measure. The Board shall appoint an independent Citizens’ Oversight Committee under Education Code section 15278 et seq., no later than 60 days after the Board enters the election results in its minutes, to ensure that bond proceeds are spent as specified in the Measure and as provided by law. The Board shall deposit bond proceeds in a special account and comply with statutory reporting requirements.
Bonds shall be issued under Education Code section 15264 et seq. or Government Code section 53506. The maximum rate of interest on any bond shall not exceed the legal limit. According to the District’s Tax Rate Statement, the best estimate of the average annual tax rate required to fund the bonds, based on assessed valuations available when the District filed the statement, is $30 per $100,000 of assessed valuation. The best estimate of the highest tax rate required to fund the bonds is the same as the average tax rate. The final fiscal year the tax is estimated to be collected is 2054-55. The estimated total debt service required to be repaid if all bonds are issued and sold is $373,250,850, including principal and interest. Estimated tax rates are based on the assessed value of taxable property on official tax rolls, not on a property’s market value.
This Measure requires a fifty-five percent (55%) vote for passage.