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PAJARO VALLEY FIRE PROTECTION DISTRICT BOND MEASURE. Shall the Pajaro Valley Fire Protection District be
authorized to issue general obligation
bonds in a principal amount not exceeding $1,000,000 and bearing interest at rates within
the legal limit, to assist in constructing a new fire station facility, pay
costs related to bond issuance, and levy a special tax based on assessed
valuation on taxable real property and improvements in the district to pay
for the bonds and the cost of administering them? |
9.
Consistent with Section
53531 of the California Government Code, the maximum rate of interest to be
paid on the bonds shall not exceed twelve percent (12%) per year payable
semiannually, unless a higher rate is permitted by law. 10. To pay the interest and principal, and any premium, on
any bonds issued, as well as the cost of administering them, the District
proposes to annually levy for thirty (30) years thereafter or until the bonds
are fully paid a special tax on all taxable real property and improvements
located within the boundaries of the Pajaro Valley Fire Protection District,
at a rate sufficient for these purposes and based on assessed valuation. 11.
Pursuant to Sections 13925
et seq. of the California Health and Safety Code, this Board hereby calls a
District-wide special election for June 3, 2003 at which the proposition of
authorizing the District to incur the General Obligation bond indebtedness in
connection with the construction of a new fire station facility shall be
submitted to the voters, along with the proposition of the levy of the
special tax. _________________________________________________ IMPARTIAL ANALYSIS OF MEASURE C If approved by at least two-thirds of those voting on the measure, up to $1,000,000 of bonds may be issued on behalf of the Pajaro Valley Fire Protection District (“the District”). The bonds would constitute an indebtedness
of the District, with a maximum term of thirty years and a maximum interest
rate of twelve percent, as provided by State law. The money raised through sale of the bonds
will be used by the District for the purpose of providing a portion of the
funds required to pay for constructing a proposed new fire station facility,
as well as expenses incidental thereto and expenses in connection with the
authorization, issuance and sale of the bonds. The new fire station facility is proposed to be located
immediately adjacent to the existing fire station facility at 562 Casserly
Road, Watsonville, California; it would be constructed on real property
donated to and owned by the Foothill Firefighters’ Association, and leased to
the District for a term of fifty years. Payment of interest, principal and any
premium on the bonds as well as the cost of administering the bonds would be
financed by a tax levied on real property within the District. The Tax Rate Statement for this measure
which is printed in this ballot pamphlet provides information about that tax,
as required by law. The precise
effect of the bonds upon the property tax rate within the District would only
be determined after sale of the bonds. A “yes” vote on Measure C is a vote to
authorize the District to issue the bonds described above. A “no” vote on Measure C is a vote not to authorize the District to issue those bonds. DANA
McRAE, COUNTY COUNSEL By Jane M. Scott, Assistant County Counsel |
FULL TEXT OF BALLOT MEASURE C
RESOLUTION
NO. 2002-11
PAJARO VALLEY FIRE
PROTECTION DISTRICT NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Pajaro Valley Fire
Protection District as follows: 1.
The above recitals [which
have been omitted in this pamphlet] are true and correct and are hereby
incorporated herein by reference as findings. 2.
The construction of a new
fire station facility on certain real property that has been donated to and
is owned by the Foothill Firefighters' Association, a non-profit
organization, and located within the boundaries of the Pajaro Valley Fire
Protection District, which real property has been leased to the District for
a term of fifty (50) years (with an option to renew for an additional ten
[10] –year period), has been proposed.
The real property on which the new facility is proposed to be
constructed is located immediately adjacent to the existing fire station
facility located at 562 Casserly Road, Watsonville, California 95076, and
constitutes a portion of the real property commonly known as Santa Cruz
County Assessor's Parcel No. 109-201-21. 3.
Pursuant to Section 13925
of the California Health and Safety Code, the Board does hereby find,
determine, and declare that in order to assist in financing the construction
of the aforesaid proposed fire station facility it is necessary to incur a
General Obligation bond indebtedness. 4.
The purpose for which the
proposed debt is to be incurred is to provide a portion of the funds
necessary to pay for the cost of construction of said proposed fire station
facility and expenses incidental thereto, including, but not limited to,
architectural and engineering fees and costs, as well as to pay all expenses
incurred by the District in connection with the conducting of proceedings for
the authorization, issuance, and sale of bonds. The District will utilize available funds on hand to cover the
remaining portion of the cost of construction of the new fire station
facility. 5. The construction of the fire station facility is
necessary to carry out the objects, purposes and powers of the District. 6.
The cost of construction of
the fire station facility, and the expenses incidental thereto, is and will
be too great to be paid out of the ordinary revenue available to the District
after the District meets the costs of providing services pursuant to Section
13862 of the Health and Safety Code. 7.
The maximum amount of the
proposed debt to be incurred is $1,000,000. 8. The maximum term the bonds proposed to be issued shall
run before maturity shall not exceed thirty (30) years from the date of
issuance. |
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44-507
VOTER
INFORMATION PAMPHLET
MEASURES, ANALYSES AND
ARGUMENTS (whichever is applicable to
your ballot) Arguments in support of, or in opposition to, the proposed laws are the opinions of the authors. |
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TAX RATE STATEMENT FOR
BOND MEASURE C PAJARO VALLEY FIRE
PROTECTION DISTRICT
A special general obligation bond election will be held
within the Pajaro Valley Fire Protection District ("District") on
June 3, 2003, for the purpose of submitting to the electors of the District
the question of incurring a general obligation bonded indebtedness of the
District in a principal amount not to exceed $1,000,000. It is the intent of the Board of Directors
of the Pajaro Valley Fire Protection District that the highest tax rate shall
never exceed $0.0077 per $100 assessed valuation and that the tax rate shall
expire 30 years after the issuance of the general obligation bonds
("bonds"). Proceeds of the
bonds would be utilized to assist in construction of a new fire station facility
on land leased by the District from the Foothill Firefighters' Association, a
non-profit organization, for a period of fifty (50) years (with an option to
renew for a ten [10] -year period) and located adjacent to the existing fire
station facility, and to pay for costs of issuance of the bonds. The following estimated projections are made assuming
said bonds are sold with an annual interest rate of 5.018% using the fiscal
year 2002-2003 assessed valuations of real property and improvements located within
the Pajaro Valley Fire Protection District, as provided by the assessor's
office of the County of Santa Cruz, California, as the base year. If such bonds are authorized and sold, the
principal thereof and interest thereon, and the cost of administering them,
will be payable from the proceeds of tax levies made upon the taxable real
property and improvements in the District. The following information regarding tax rates is given
to comply with Section 9400 and 9401 of the California Elections Code. Such information is based upon the best
estimates and projections presently available from official sources, upon
experience within the District, and other demonstrable factors. Based upon the foregoing and projections of the
District’s assessed valuation, and assuming the entire debt service will be
amortized through special tax levies based on assessed valuation made upon
all taxable real property and improvements within the District: The best estimate from official sources of
the tax that would be required to be levied to fund the bond issue during the
first fiscal year after the sale of the bonds, based on assessed valuations
presently available, is $0.0072 per $100 assessed valuation. The best estimate of the
highest tax rate which would be required to be levied to fund the bond issue
and an estimate of the year in which that rate will apply, based on assessed
valuations presently available, is $0.0077 per $100 assessed valuation for
the fiscal year 2005-2006. Attention of all
voters is directed to the fact that the foregoing information is based upon
projections and estimates only, which are not binding upon the District. The
actual times of sales of said bonds and the amount sold at any given time will be governed by the needs of the
District and other factors. However, as a practical matter the
District believes the foregoing projections and estimates (including
the aforesaid annual interest rate) are sound
and reasonable and based thereon, the estimated rate of $0.0072 per $100 of
assessed valuation means a tax of $7.20 per $100,000 of assessed valuation,
$10.80 per $150,000 assessed valuation, $14.40 per $200,000 of assessed
valuation, and so on. |
The
actual interest rates at which the bonds will be sold, which in any event can
not exceed 12% per annum by law, will depend upon the bond market at the time
of sale. Actual assessed valuation in
future years will depend upon the value of the property within the District
as determined in the assessment and the equalization process. Hence, the actual tax rates and the years
in which such rates are applicable may vary from those presently estimated
above. The intention of the current Board of Directors of the
District to limit the tax rate is not binding on future Boards of Directors
who may determine the needs of the District require a higher tax rate to pay
for principal and interest on any authorized bonds up to the maximum of
$1,000,000. Dated: March 7,
2003. s/
Russell Farnam President,
Board of Directors Pajaro Valley Fire Protection District _______________________________________________________________ ARGUMENT IN FAVOR OF MEASURE C This bond issue will assist in constructing a new
fire station that will adequately meet the safety needs of our growing
community. The new facility built on donated land that is leased by the
district and adjacent to the existing Pajaro Valley Fire Station
significantly reduces the monetary burden on our constituents, providing a
site with excellent ingress and egress, allowing for the construction of
drive-through bays. Money from the sale of the Freedom station to the City of
Watsonville, as well as seven years of prudent budgetary oversight by the
board of directors has provided funds that currently exceed $700,000. These
accumulated funds along with the land, permits, and all studies in hand,
suggest that the PVFPD is half-way to its $1,400,000 construction goal and
can actually issue bonds for much less that the anticipated $1,000,000. These
factors provide the district with an exceptional and timely opportunity to meet
pressing needs, provide adequate housing for the men and women firefighters,
and benefit the community for years to come. The annual tax rate is expected to be
$7.72 per $100,000 of assessed valuation. For most parcels in the district
that equates to about the same cost as lunch at a fast-food restaurant for a
family of four. We consider the passage of this bond measure
crucial to our ability to meet the fire and safety needs of our citizens and
provide them with the level of service that maximizes their safety. The
following individuals and organizations endorse this bond measure:
Watsonville Firefighters Local 1272, California Department of Forestry &
Fire Protection Local 2881, Foothill Firefighters, Pajaro Valley
Firefighters, Santa Cruz Board of Supervisors; District 4, Tony Campos;
District 2, Ellen Pirie; District 5, Jeff Almquist. Pajaro
Valley Fire Protection District s/
Russell Farnam, President, Board Of Directors _________________________________________________ NO ARGUMENT AGAINST MEASURE C WAS FILED. |
44-508