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Measure Y

Measure Y

November 2024 Ballot - Measure Y

You can find the correct version of the Measure Y FAQs here.

Measure Y authorizes the Hope School District to sell up to $40,300,000 in bonds. This measure protects taxpayers by ensuring that the combined maximum tax rate of current and Measure Y bonds does not exceed $59 per $100,000 of assessed value.

If approved by 55% of the voters voting on the proposition, this measure authorizes the Hope Elementary School District (School District) to issue and sell bonds of up to $40,300,000 in aggregate principal amount to provide financing for the specific types of school facilities projects listed in the School District's Project List. The Project List, as well as the full text of the measure, are printed in the voter information guide. None of the proceeds from the sale of bonds may be used for teacher or administrator salaries or operating expenses.

Based upon the foregoing and projections of the District's assessed valuation, the following information is provided:

  1. The best estimate of the average annual tax rate that would be required to fund this bond issue over the entire duration of the bond debt service, based on estimated assessed valuations available at the time of filing of this statement, is $18.26 per $100,000. It is currently expected that the tax will be collected until fiscal year 2054-55.
  2. The best estimate of the highest tax rate that would be required to fund this bond issue, based on estimated assessed valuations available at the time of filing this statement, is $19.00 per $100,000 of assessed valuation. This rate is projected to apply in only the fiscal year 2025-26.
  3. The best estimate of total debt service, including principal and interest, that would be required to be repaid if all the bonds are issued and sold will be approximately $76,300,000.