Full text of Manteca Unified bond

The following is the complete text of the Manteca Unified School District bond that voters will be before voters in the Nov. 4 election. The $159 million bond will cost property owners $60 per $100,000 of assessed valuation. So if your house is assessed at $300,000, it will add $180 a year to your property tax bill if the bond passes.

INTRODUCTION

MANTECA UNIFIED SCHOOL DISTRICT SAFE AND MODERN CLASSROOMS MEASURE: To upgrade classrooms to meet modern academic, technology and safety standards: repair faulty electrical systems, air conditioning, leaky roofs, plumbing and restrooms; improve fire safety systems and school security; remove asbestos and lead paint; and repair, construct, and acquire educational facilities and equipment, shall the Manteca Unified School District issue $159 million of bonds at legal interest rates, with citizen oversight, annual independent audits, and no money for administrators salaries or pensions.

BOND AUTHORIZATION

By approval of this measure by at least 55 percent of the registered voters voting on the measure, the District will be authorized to issue and sell bonds of up to $159 million in aggregate principal amount at interest rates not to exceed legal limits and to provide financing for the specific types of school facilities projects listed in the Bond Project List described below, subject to all the accountability requirements specified below.

ACCOUNTABILITY REQUIREMENTS

The provisions in this section are specifically included in this measure in order that the voters and taxpayers in the District may be assured that their money will be spent wisely. Expenditures to address specific facilities needs of the District will be in compliance with the requirements of Article XIIA, Section 1(b)(3), of the State Constitution and the Strict Accountability in Local School Construction Bonds Act of 2000 (codified at Education Code Sections 15264 and following.)

Evaluation of Needs. The School Board has identified detailed facilities needs of the District and has determined which projects to finance from a local bond. The School Board hereby certifies that it has evaluated safety, class size reduction, enrollment growth, and information technology needs in developing the Bond Project List shown below.

Independent Citizens Oversight Committee. Following approval of this measure, the Board of Trustees will establish an Independent Citizens Oversight Committee, under Education Code Sections 15278 and following, to ensure bond proceeds are expended only on the types of school facilities projects listed below. The committee will be established within 60 days of the date when the results of the election appear in the minutes of the School Board.

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Full text of Manteca Unified bond