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| Home / Business / Measure E Bond | |||||||||
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Measure E Bond | ||||||||
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| 2002-03 Financial Statement Report (audit) Prepared by Vavrinek, Trine, Day and Co., LLP |
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| Printable Facts (pdf)
Measure E, passed on the March 5, 2002 ballot, is a $60 million general obligation bond measure that will provide funding for classroom and facility improvements throughout the Hemet Unified School District. The following information is provided to assist voters in understanding Measure E. |
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| What is a general obligation bond? | |||||||||
| General obligation ("G.O") bonds fund projects such as new schools and classrooms. Similar to a home loan, G.O. bonds are repaid over 25 years while the project is | |||||||||
| being used. The loan repayment comes from a tax on all property - residential, commercial, agricultural and industrial - located in the district. | |||||||||
| What would the passage of Measure E mean to our District? | |||||||||
| Our schools were designed for 12,000 students. But today, our enrollment exceeds 18,000. Worse still, in the next five years, we expect an additional 3,000 students at Hemet Unified. Measure E will build over 175 additional classrooms. By providing these classrooms, class size reduction can continue. Existing classrooms, many of which are over 30 to 50 years old will be rehabilitated. Plumbing, electrical systems, leaky roofs and windows will be repaired. Classrooms will be re-wired to allow for today's computer technology. Handicapped access will be provided. | |||||||||
| What will Measure E cost me? | |||||||||
| Property owners will pay on average about $2.80 per month on $100,000 of assess valuation. Do not confuse assessed valuation with market value. Assessed valuations are typically lower than market values. Check your property tax statement for your current assessed valuation. | |||||||||
| Why aren't State funds being used instead? | |||||||||
| The passage of Measure E will make the District eligible for over $100 million in State funding. However, without the local matching funds provided by Measure E, it is unlikely that the District would receive any State funding. | |||||||||
| How can I be sure that Measure E funds will be spent on improving our schools? | |||||||||
| As required by law, an independent citizens oversight committee will be established to ensure that the funds are properly spent. | |||||||||
| What's in it for my neighborhood? | |||||||||
| District schools will benefit from Measure E. Please use the link below to view a list of school facilities projects to be funded with proceeds of bonds for the school in your area. | |||||||||
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