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Measure I - Alum Rock Bond
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Election Date: June 7, 2016
Alum Rock Union School District $139,999,671.60 BOND Measure I – Argument Against
In 2012 district voters passed a $125,000,000 bond measure to “replace inefficient/ aging heating, ventilation, and electrical systems”. That’s just 4 years ago.
Were the construction projects funded by that $125,000,000 so shoddy that it all has replaced a mere 4 years later?
If so, why should we trust them this time around to get it right?
Answer: we shouldn’t.
If you wanted a personal computer for your home or business, would you take out a 30 year loan at an unknown interest rate to pay for it?
That would be nuts, especially since most technology is going to be obsolete in 3-5 years. But, that’s what the proponents of Measure I want to do.
Bond interest rates can legally go as high as 12% per year.
Would you buy a house or condo without knowing what the interest rate is going to be? That would be nuts, right?
But, that’s what the proponents of Measure I are asking you to approve.
And since bond measures are like mortgages, in that they have to be paid back with interest, what is the real cost of this $139,999,671.60 bond measure?
If we assume a 3% rate, that’s $4,199,990.15 per year in interest only.
In 30 years that’s $125,999,704.44 in interest plus the original amount of $139,999,671.60 bond for a total cost of $265,999,376.04.
What makes schools great are great teachers, not fancy classrooms or access to the latest computer technology.
By the time this bond measure is paid off, the technology it funded will be long ago obsolete, probably rotting in some landfill dump.
School funding should be used to pay teachers, not to pay bond interest for the next 30 years."
Just say NO to Measure I.
For more information, please see our web site:
www.SVTaxpayers.org/2016-alum-rock-union-school-bond-measure
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Alum Rock Union School District $139,999,671.60 BOND Measure I – Rebuttal to the Argument in Favor
In 2012, district voters passed a $125,000,000 bond measure “to improve neighborhood schools by removing mold and asbestos” and “fixing leaky, deteriorated roofs.”
Now, only 4 years later, they want to “remove hazardous materials, like mold and asbestos” and “fix leaking roofs.”
Were the construction projects funded by that $125,000,000 so shoddy that it all needs redoing, just 4 years later?
And will the same mold and asbestos need to be removed again 4 years from now?
If so, why should we trust them this time around to get it right?
Answer: We shouldn’t.
If you wanted a personal computer for your home or business, would you take out a 30-year loan at an unknown interest rate to pay for it?
Ridiculous, right? Especially since technology goes obsolete so quickly—sometimes in just 3 years. But that’s the type of debt burden Measure I’s proponents propose saddling us with—for decades.
What makes schools great? Great teachers—not fancy classrooms or the trendiest technology.
By the time this debt is paid off, the technology it funded will be long ago obsolete—in a museum, if it’s lucky, or in a landfill, if it’s not.
School funding should be used to pay our teachers—not to pay bond interest for the next 30 years.
If you support teachers, children, and education, but oppose decades of debt, just say NO to Measure I.
For more information, please see our web site:
www.SVTaxpayers.org/2016-alum-rock-union-school-bond-measure