Pass: 123,253 / 72.12% Yes votes ...... 47,639 / 27.88% No votes

See Also: Index of all Measures

Impartial Analysis from Raymond G. Fortner, Jr. County Counsel

Approval of Measure K would authorize the Long Beach Unified School District (“District”) to issue general obligation bonds, in an amount not to exceed $1,200,000,000.

Funds received from the sale of the bonds shall be used for the specific purposes set forth in this Measure including, earthquake and handicap retrofitting; repairing restrooms, plumbing, roofs, and fire safety systems; removing lead paints and asbestos; upgrading vocational classrooms, technology/energy efficiency; expanding supervised after-school programs; and acquiring, repairing, constructing, equipping sites, facilities and joint-use buildings. No funds may be used for teacher and administrator salaries or any other school operating expenses.

Independent performance and financial audits will be performed annually to ensure that funds received from the sale of the bonds are expended as specified by the Measure. All bond expenditures will be monitored by a Citizens’ Oversight Committee to ensure that funds are spent as specified.

The bonds would be issued for a term not to exceed twenty-five (25) years in the case of bonds issued under the authority of the Education Code, and forty (40) years in the case of bonds issued under the authority of the Government Code. The tax levied as a result of approval of this Measure shall not exceed the Proposition 39 limits per $100,000 of taxable property within the District. By issuing the bonds the District may be eligible to receive matching funds. The bonds would be issued at an interest rate that does not exceed the legal maximum rate.

This Measure requires a fifty-five percent (55%) vote for passage.

Long Beach Unified School District

GreatSchools.net

LBUSD Press Release

7/22/08