Measure J                                                     55% voteBond – Alum Rock Union School District City of San Jose
 
Summary
To improve neighborhood schools by removing mold and asbestos; fixing leaky, deteriorated roofs; replacing inefficient/ aging heating, ventilation, and electrical systems to save money; improving fire safety/ security; updating computer technology/science labs for 21st century learning; repairing aging restrooms; and acquiring; constructing, and repairing sites/ facilities, shall Alum Rock Union Elementary School District issue $125 million in bonds at legal rates with required independent financial audits, citizens’ oversight and no money for administrators’ salaries
Controversy
  • There has been no history that we have found of any local School District defaulting on their bonds.
  • We have found only 1 school district in California default on a bond in LA county in 1991.
Fiscal Impact
There is no know information at this time as to how will be the underwritter of the bond or what rating, interest rate and term lenghts will be offered. As with most school bonds this information is determined after the bond measure has passed.
Questions -
  1. Do you want Alum Rock Union School District to issue bonds ( take out a loan that will be repaid to those who purchaser the bonds ) so they may acquire new computer for students?

YES vote-The School district will issue bonds to fund improvements.

No vote-The school will need to seek alternate means to make improvements or forgo the improvements at this time.

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