Imperial voters to decide on Measure P

IMPERIAL — Aside from nominating a presidential candidate and voting in selected state and local elections, voters in here will also be deciding on a $30 million bond measure.

If approved, Measure P would provide $30 million for the Imperial Unified School District. As described on the ballot, the money would be used to improve the quality of education by modernizing outdated classrooms, restrooms and schools, expanding physical education facilities and constructing a new multi-purpose room for school and community use.

Should Measure P be adopted, the interest on the bond would be $1.76 million a year raised annually for issued bonds. The tax rate per property owner is estimated to be $45 per $100,000 of assessed valuation per year. For a home assessed at $100,000, the tax bill for the year would be $45.00, or approximately $3.75 per month.

The best estimate of the proposed total debt service with all interest and principal if all the bonds are issued and sold would be $59.1 million.

According to the California Constitution on bond indebtedness, 55 percent of the voters who cast ballots on this measure would have to vote for approval for the bond to pass.

If 55 percent of the voters in the district are in favor of the measure the district will be for the projects listed in Measure P.

If the bonds are issued under the Education Code, the maximum duration of the bonds cannot exceed 25 years. The exact tax rates would not be able to be determined until after the bonds are sold.

Meanwhile, voters statewide will be deciding on Proposition 13. The ballot measure is a state bond that would raise $15 billion in state general obligation bonds for construction and modernization of public education facilities

Increased state costs to repay bonds estimated at about $740 million per year (including interest) over the next 35 years.

This ballot measure has no relation to the 1978 initiative of the same name that capped property taxes.