Schools
Charter Oak to Vote on Election for $47 Million Bond
The district proposes a new bond to fund school facilities projects.
The Charter Oak Unified District School Board will vote on ordering a June 5 election for a $47 million general obligation bond to pay for school facilities projects at Thursday’s board meeting.
The district had been considering proposing another bond measure while for its.
The resolution under consideration states the board believes it is in the district’s “best interest to continue to address facility improvements now before they become more pressing and more costly.”
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Parents at the recent town hall meetings expressed concerns over aging facilities, including a nearly
The district used $30 million in Measure C bond money to complete modernization projects throughout schools in the district. Nearly $3 million in federal stimulus money was used to renovate the quad area, football field and running track.
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According to district documents, principle and interest on the bonds will be payable only from proceeds of tax levies made upon the taxable property in the district.
The district projects the highest bond tax rate based on a projection of assessed valuation at $60.00 per $100,000 for fiscal year 2019-2020.
Taxpayers eligible for a property tax exemption, such as the homeowner’s exemption, will be taxed at a lower effective tax rate
The Charter Oak School Board meeting is tonight at 6 p.m. in the Charter Oak District board room, 20240 E. Cienega Avenue, Covina.
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