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Measure G – Santa Clara County (June 3, 2014)
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Election - June 3, 2014
Santa Clara County
Measure G:
Bond issue of $42,500,000 for San Benito High School District:
To improve the quality of local education by ensuring all San Benito High School students can access modern classrooms and educational tools, shall San Benito High School District:
- replace/upgrade classrooms and labs to prepare students for college and careers;
- repair roofs, plumbing and outdated electrical systems;
- add 21st century instructional/vocational technology;
- improve school safety;
- improve access for persons with disabilities
by issuing $42.5 million of bonds, with citizen oversight, audits, with NO money for administrator salaries?
SVTA recommends a NO vote against Measure G.
Here's why:
When school boards ask voters to go into debt with bond measures like Measure G, what are they saying? They want to borrow money, in part, to pay for the following:
1. "To provide clean, safe, and well maintained facilities"
2. "Upgrade and replace computers"
3. "Repair leaky roofs"
4. "Upgrade technology infrastructure"
If we want our houses cleaned, do we take out a 25 year loan to hire a cleaning service?
No? But, that's what the San Benito High School District is asking us to approve.
If we want to buy a laptop computer, do we take out a 25 year loan to pay for it?
No? But, that's what the San Benito High School District is asking us to approve.
If our roof needs a leak fixed, do we take out a 25 year loan to pay for it?
No? But, that's what the San Benito High School District is asking you to approve.
If you wanted to upgrade your home computer network, do you take out a 25 year loan to hire an expert to do that?
No? But, that's what the San Benito High School District is asking you to approve.
No sane person would do such things. And at a cost that could exceed $14,579 per student -- NOT counting interest expense.
The website: www.ed-data.k12.ca.us shows at least 2,915 students in the district, which means the bond expense is $14,579 per student not counting interest costs and repayment of principal. When you buy a home, truth in lending laws require you be informed about the real cost of buying a home. Shouldn't consumer laws apply to bond issues too? For example:
Borrowing $42,500,000 and paying 3% interest for 25 years means annual interest payments of $1,275,000 for a total lifetime interest cost of $31,875,000. Plus, you have to pay back the principle. So the final cost could be $74,375,000!!!
As a taxpayer, you deserved to know the full truth about measure G.
Instead of paying $1,275,000 in interest every year "to meet current safety codes", your educational dollars will be going to big banks, investment brokers, and other wealthy people to be used as a tax shelter. Is this the best use of your tax dollars?
This is irresponsible behavior. Don't reward bad behavior! Vote NO on Measure G.
Let's teach the San Benito High School Board to be more responsible by voting NO on Measure G.
VOTE NO
on
MEASURE G!
You may read the Full Text, Arguments, Rebuttal Arguments, and Impartial Analysis of Measure N
at the web site of the County Elections Office: here.
Paid for by the Silicon Valley Taxpayers Association PAC.