ABC Unified School District. Board of Education Meeting. July 15, 2014 Bond Resolution Toan Nguyen, Assistant Superintendent-Business Services/Chief Financial Officer Mark Farrell, Senior Financial Advisor, Dale Scott & Company Don Field, Partner, Orrick, Herrington, Sutcliffe LLP.
Board of Education Meeting
July 15, 2014
ToanNguyen, Assistant Superintendent-Business Services/Chief Financial Officer
Mark Farrell, Senior Financial Advisor, Dale Scott & Company
Don Field, Partner, Orrick, Herrington, Sutcliffe LLP
1997 Election - Yes Vote: 68.2% (Approved as a “Two-Thirds” Bond)
Architectural and Structural
Electrical Systems and Low Voltage
In February, 2014, a survey of 500 registered voters was conducted over a seven day period
A telephone survey of 500 likely voters (those having voted in Nov. 2012 and voted in either Nov. 2002, Nov. 2006, Nov. 2010 or June 2012) was conducted between February 21, 2014 and February 27, 2014.
Surveys were conducted during the weekday in the evenings, and on the weekend both in the morning and evening.
The average length of the bond survey was about 8.70 minutes.
Margin of error for the bond survey is +/- 4.33%.
The G.O. bond measure received 72.2% (Yes/Lean Yes) support before voters received information and remained at 72.2% after voters received additional information
There was strong voter support for all of the projects tested (More/Somewhat More Likely)
Bond measure size still to-be-determined, survey based on 3.5% annual assessed value growth and a $59/$100,000 tax rate
Voters in the District indicate strong support for a local school improvement bond program
2014 Possible Bond Survey
Estimated CostCumm. Est. Cost
A. Baseline Technology $ 85,410,038 $180,082,060
B. 21st Century Infrastructure $ 92,702,022 $272,784,082
Constitutional amendment passed in 2000, lowering voter approval threshold for school district G.O. bonds to 55%
What can be financed?
Limitations and Requirements
2/3rd approval by school board
More specific project list
Regular elections only
$60 per $100,000 of Assessed Value (not Market Value) tax rate limit for unified school districts
Annual financial and performance audits
Citizen oversight committee
2013/14 Tax Rates per $100,000 of Assessed Value
Cumulative Bond Authorizations Per Student (at time of Election)
ABC has the lowest bond authorization amount per Student in the County
Total Assessed Value
Assessed Value (billions)
Note: Annual percentage changes listed above assessed value figures
Bond authorization amount determined by project needs and capacity of tax base
For a property with a Assessed Value (not Market) of $300,000, the additional tax will be $180 per year, or 49 cents a day.
Assuming the AV will increase by 2 percent per Proposition 13 limitation
Hypothetical Bond Fund Allocation by Student(Actual Bond Allocation will be determined by future Board actions)