Dale Scott, the district’s bond consultant, presented a plan that is the most significant item on tonight’s agenda. Money from the 2008 Measure Q bond is coming into the district too slowly because of the drop since 2008 of assessed property values in SUSD. A remedy, according to Scott, is to ask voters in SUSD to vote on a new bond in November valued at $156 million. If it passed, the district would cancel half of the unsold part of Measure Q, also $156 million. Then, homeowners would be taxed twice by SUSD on their property tax — once on the remainder of Measure Q, again on the new $156 million bond. Instead of paying up to $60 per $100,000 of assessed value just for Measure Q, they would pay it for Measure Q and again for the new measure, whatever it ends up being called.
Got that? If not, it’ll be explained in a bit more detail in tomorrow’s paper.
Scott also presented results of a survey of likely SUSD voters showing support for the plan. Fifty-five percent of voters would have to approve this for it to pass in November (of course, the board has to approve it tonight for anything to happen). Scott said 400 likely voters in SUSD were polled July 2, 3 and 5 of last week.
Trustee David Varela asked if voters would support this given the other possible taxes they might be asked to approve in the fall.
Scott said it’s never a good time to ask for more money but that this is a good deal for the voters. Trustee Jose Morales said, “At the end of the day we should give it a shot.” Varela said there are some who will oppose any tax, especially so with issues like health care and high-speed rail weighing on voters. Sara Cazares said the survey is encouraging to her, but she said the district must do a full campaign to support the bond but also to support the governor’s tax initiative.