Argument Against Fremont Union High School District $295,000,000 Bond Issue: Measure K_
In 1998, voters approved Fremont Union High School District’s $144,000,000 bond issue for “safety standards and repairs.”
Just 6 years ago, voters approved another $198,000,000 loan to “construct new schools” and “upgrade high school technology.”
Today, Fremont Union High School District is saying they need even more debt, to “construct new classrooms.”
When school boards ask our permission to go into debt with bond measures like these, they’re admitting that what they’re spending our tax dollars on, now, is more important than this measure’s projects. Budgets demonstrate priorities. Fremont Union High School District is saying thatevery dollar spent today is for something they consider more important than "updating computer network capability and science lab” and “upgrading classroom computers.”
We’ve already entrusted them with $342,000,000 to upgrade facilities, and now they want another $295,000,000 (burdening us with another 25-30 years of interest!)…to do the same thing all over again. To support enrollment that’s increased by only 175 students since school year 2011-12.
When you buy a computer that’s going to last for 3-5 years, do you take out a 25-year loan to pay for it? No! But, that’s what Fremont Union High School District wants to do.
School bonds are like home mortgages: they must be paid back, in full. Plus lots of interest. Which means: lots of tax dollars that won’t go to teachers, textbooks, computers, maintenance. Interest payments go to lenders.
A 3% interest rate on $298,000,000 means paying $8,940,000 per yearundefinedfor 25-30 years. Total cost = $521,500,000 (principal + interest)undefinedthat’s if it runs only 25 years. Over HALF A BILLION TAX DOLLARS.
Making big payments to lenders, for over two decadesundefinedis this the best use of our local tax dollars?
If your answer is “NO,” please vote NO on Measure K.
Like us, you can be for schools, for students, for teachers, and against Measure K.