The Bond Measure: A Guide to Funding and Oversight

A bond measure is a type of tax increase that allows a government agency to borrow money to fund specific projects or services.

The process of passing a bond measure can be complex, but it typically involves a vote by the public to approve the bond. A simple majority is usually required to pass the bond.

The bond measure is usually used for large-scale projects that require significant funding, such as building new schools or infrastructure.

A Proposition 39 school bond measure can only be used to fund school facility and technology improvements. These improvements can make a big difference in our community, making our neighborhoods more desirable places to live.

Proposition 39 school bonds require 55% plus one additional vote to pass. This ensures that the measure is supported by a significant majority of voters.

Proposition 39 school bonds prohibit the use of funds for operations, district liabilities, judicial settlements, administrator salaries, or pensions. This means that the funds are strictly for facility and technology improvements.

All revenue generated by a local bond stays local and benefits our local schools and students. This is a great way to support our community and keep our property values up.

Here's an interesting read: Bond Index Funds

A bond measure is a type of public financing tool used by local governments to fund specific projects or programs.

It's often necessary because local governments don't have enough money in their budgets to fund these projects on their own.

A good example is the construction of new schools, which can cost tens of millions of dollars.

The bond measure allows the government to borrow money at a low interest rate and repay it over time.

This can be a more cost-effective option than trying to fund the project through property taxes or other means.

In some cases, a bond measure is the only way to fund a project that will benefit the community as a whole.

For instance, upgrading a local water treatment plant can improve the health and safety of the community.

Explore further: Bond Fund

The funding for this bond measure is a crucial aspect to consider. The District needs local matching funds to access millions in state matching funds that will otherwise go to repair schools in other communities.

These state dollars are contingent on local matching funds being available, which is why a local bond measure is essential. This ensures that our schools can receive the necessary funding to make repairs and improvements.

By approving the measure, the District can secure these state funds, which will be a huge benefit for our community.

Recommended read: State Bonds

The Palos Verdes Peninsula Unified School District is seeking local funding for classroom repairs and student safety through a bond measure. This measure would provide $297,800,000 in locally controlled funding.

The funds would be used to repair or replace leaky roofs, fix failing pipes to prevent sewer and gas leaks, and fix inadequate and failing electrical systems. These repairs are crucial to maintaining a safe and healthy learning environment for students.

The measure would also address outdated and inefficient heating and cooling systems, removing hazardous materials like asbestos and lead, and replacing deteriorating 30+-year-old portable classrooms. These updates would improve the overall quality of education and student safety.

Here are some specific projects that would be completed with the funds:

Local Oversight and Control is a crucial aspect of Measure K and similar bond measures. This ensures that funds are used for their intended purpose, providing transparency and accountability.

The measure requires a clear system of accountability, including a project list detailing exactly how the money will be used. This means you can see exactly where your money is going and what specific projects it will fund.

All funds raised by this measure would be locally controlled and only go to repair PVPUSD schools. This means that the funds won't be taken away by the State, and they can't be used for other purposes.

A project list describing the only projects that may be funded is included in the measure. This list ensures that funds are used for their intended purpose, such as repairing schools.

Here's an interesting read: What Is Decimeter Used to Measure?

No funds could be used for salaries, benefits, or any expenses other than school facility repairs. This means that the funds won't be used to pay for administrative costs or salaries.

An independent Citizens’ Oversight Committee, annual audits, and public disclosure of all spending would be required. This provides an added layer of transparency and accountability.

Annual financial and performance audits would be conducted to ensure funds are spent as promised to local voters. This ensures that the funds are being used efficiently and effectively.