Measure L                                                     55% voteBond – Mt. Pleasant School District City of San Jose
To facilitate math, science, reading/writing programs in local elementary/middle schools by upgrading classrooms, removing asbestos and hazardous materials, repairing dry rot, termite and structural damage, upgrading wiring and fire alarms for safety, repairing deteriorating restrooms, replacing leaky roofs, and acquiring, renovating, constructing classrooms, equipment, sites and facilities, shall Mt. Pleasant Elementary School District issue $25,000,000 in bonds at legal rates, with independent citizen oversight, no money for administrators’ salaries/pensions/benefits, and all money benefiting local schools
  • 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 Mt. Pleasant 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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