Special Board Meetings/Public Forums

Proposed Refinancing of Capital Appreciation Bonds

POSSIBLE REFINANCING OF THE CAPITAL APPRECIATION BONDS (CABS)

Survey Results

In accordance with Board direction, three community forums were held to present information on the possible refinancing of the CABs and to gather public input on this subject.

The forums were held on September 23, October 2, and October 4, 2014, at three of our schools. Over 70 community members attended one or more of these forums. Following is a recap of their feedback as stated in the preference cards:

Would you as an SFID resident and tax payer prefer:

9-22-14 10-2-14 10-4-14 Total

I do not support refunding the CABs as this would result in an increase to my SFID tax rate above those prescribed by law.

20 17 49 86

Allow the public to vote their preferences at the next election in 2016; the district would be required to fund the election costs.

12 6 36 54

Move forward if we can refund 10% of the CABs, and my SFID tax rate does not increase by more than approximately $7.00 per $100,000 annually over and above the changes prescribed by law.

2 0 4 6

Move forward if we can refund 20% of the CABs, and my SFID tax rate does not increase by more than approximately $14.00 per $100,000 annually over and above the changes prescribed by law.

4 1 9 14

Total:

38 24 98 160

 

On-line Survey Results

The CABs survey was also online and available for the public from September 24, 2014 through October 6, 2014. 138 individuals responded to the survey. Following is a recap of their feedback:

Question 1: Do you pay Mello Roos/CFD Taxes?

Yes

21

No

109

I Don’t Know

8

(Respondents who answered Yes were taken to the end of the survey with a message that their property taxes could not be impacted.)

 

Question 2: Would you as an SFID resident and tax payer prefer:

I do not support refunding the CABs as this would result in an increase to my SFID tax rate above those prescribed by law.

47

Allow the public to vote their preferences at the next election in 2016; the district would be required to fund the election costs.

21

Move forward if we can refund 10% of the CABs, and my SFID tax rate does not increase by more than approximately $7.00 per $100,000 annually over and above the changes prescribed by law.

3

Move forward if we can refund 20% of the CABs, and my SFID tax rate does not increase by more than approximately $14.00 per $100,000 annually over and above the changes prescribed by law.

30

 

Total:

 

101

 

Next steps: Based on questions from the community, we will prepare a FAQ that will be posted on our District website.

 

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POWAY UNIFIED SCHOOL DISTRICT | 15250 Avenue of Science, San Diego, CA 92128 | (858) 521-2800