You will read in your Ballot Pamphlet on page PR-1301-1, last paragraph, that the County Counsel’s Impartial Analysis tells us these irrefutable facts: The interest rate on any bond, which is established at the time of bond issuance, could not exceed 12% per annum. The final date of any bond could be no later than 25 years or 40 years after the date the bonds were issued as determined by the District.
Impartial Translation for Voters
The interest rate on any bond, which (interest rate) is established at the time of bond issuance (by the actual bond market, not by CUSD’s superintendent or on the CUSD campaign website or in CUSD’s slick mailer advertisements or in the minds of Prop E pundits) could not exceed 12% (which is WAY higher than CUSD’s campaign promise of less than 1%!) per annum (year). The final maturity date (duration) of any bond could be no later than 25 years or 40 years after the date the bonds are issued as determined by the District (Watch out! That means CUSD has sole discretion and can “roll over” or re-finance Prop E bonds up to 40 years like CUSD re-financed in 2012 CUSD’s 1998 Prop KK bonds that we are still paying principal and interest on! Read your property tax bill line item tax hike for “Unified School” which is your 1998 CUSD Prop KK bonds tax hike that CUSD re-financed in 2012. You’re going to be paying off CUSD’s 1998 Prop KK bond debts for at least another decade).
The reason you have the County Counsel’s Impartial Analysis on the first and second pages of your Ballot Pamphlet materials for Prop E is precisely because it’s common knowledge that CUSD can’t be trusted to tell you the truth about Prop E.
Prop E Supporters Are Wrong Again
Here’s some of the fiction that Prop E supporters are writing over on Coronado.Patch.com . . . while they’re also busy harassing and attacking one of the few people who understands the complex details of how CUSD is cooking its books:
Kathleen May 12, 2014 at 04:11 PM
You are once again incorrect Ms. Uremovic. Jerry Brown signed in to law in October a bill limiting the term on school bonds to 25 years or less. Prop E CUSD bonds would be for 10 years and 10 years only. I’m curious, exactly who would be conducting your forensic audit of CUSD?
Where Do They Come Up With Their Silly Statements?
Prop E supporters believe the campaign promises they read . . . on CUSD’s campaign website . . . in CUSD’s expensive and slick campaign mailer advertisements . . . from CUSD’s superintendent and other fast-talking CUSD employees . . . from self-interested CUSD cronies . . . from CUDS’s assorted spokes-bullies and pundits.
Sadly, Prop E supporters are making the foolish choice to rely on CUSD’s campaign promises that aren’t worth the paper they’re written on.
Why any Coronado voter would choose to rely on campaign promises from CUSD . . . knowing full well that CUSD lied to our community about the School Pool . . . and created the School Pool boondoggle . . . remains a mystery to us.
Ballot Pamphlet Materials vs. Campaign Promises
The Ballot Pamphlet materials are what voters are being asked to vote on.
Nothing. Else. Matters.
None of the campaign promises from . . . fast-talking CUSD employees . . . self-interested CUSD cronies . . . and naive Prop E supporters . . . mean anything.
The bond market is completely out of CUSD’s control. They’re presenting the illusion of certainty about Prop E bond debts where . . . in reality . . . there is no certainty.
The facts support a NO vote on Prop E . . . so the pro-Prop E tax hike campaign is using scare tactics, empty threats, melodramatic over-exaggerations, scapegoating of the “villain” Sacramento (the State, the Governor, etc.) . . . bullying teachers and parents into propagandizing about the “need” for unnecessary Prop E . . . harassing, ostracizing and personally attacking NO voters who aren’t buying what they’re selling.
CUSD’s pro-Prop E tax hike campaign is all very ugly and all very predictable. We’ve seen it before in Coronado over and over and over again.
These are your real neighbors behaving true to their authentic nature. Remember well CUSD’s Prop E campaign to raise your property taxes. Don’t ever forget it.
CUSD has promised voters the moon . . . and other fairy tales . . . a “low cost,” “short duration,” “right-sized,” GIANT pile of debt for you to pay and for CUSD to waste . . . even after they received a $3.2 million INCREASE in total funding in 2013!
Forget CUSD’s rosy campaign promises of short bond durations and low bond costs. Prop E isn’t “right-sized” at all. It’s just another credit card for CUSD to max out before they come back for another tax hike.
Recognize the reality that Prop E is too risky and too expensive. Read our prior article Pool Pool Pool, Prop E is a Sneaky School Pool Boondoggle Re-Finance Scheme by clicking here.
Voters should remember this “Fool me once, shame on you. Fool me twice, shame on me” . . . and voters should refuse to be fooled twice by CUSD. Vote NO on Prop E.
Vote NO on Prop E on June 3
Vote NO because you aren’t fooled by CUSD’s campaign promises about Prop E.
Vote NO because it’s the only way to force CUSD to live within its means and stop wasting our tax dollars.
Vote NO on Prop E on June 3!