About the College of the Redwoods Bond Measure
Why did the college propose a general obligation bond measure?
The college proposed a bond measure to secure necessary funding for the renovation of classroom and laboratory facilities that will enable the college to improve its local employment and vocational training programs and to strengthen its academic programs for local students wishing to transfer to other colleges and universities.
For what specific needs will the bond funds be used?
The bond funds will be used to renovate classrooms, laboratories, and career/technology centers, improve technology infrastructure, enhance access to facilities for persons with disabilities, and repair unsafe and deteriorating buildings. Specific programs to be enhanced include: Tourism/Hospitality, Health Occupations, Police and Fire Science, Construction Technology, Automotive Technology, Computer Science, as well as all transfer level science courses.
How much will the general obligation bond cost homeowners?
Existing bond regulations authorize the college to request up to $25 per $100,000 of assessed property valuation. This valuation is the taxable value of the property on the county tax roles and is not necessarily the same as the market value of the property. The college's Board of Trustees has decided to request a rate of $18 per $100,000 of assessed property valuation for the bond measure it is proposing.
How long will it take to pay off the bond?
The bonds will be issued in three separate schedules from 2004-2009 and will have a term of no longer than is allowed under California law.
What did voters see on the ballot?
Voters saw a 75-word statement outlining what will be done with the funds and a list of projects to be funded by the bond.
What was required to pass the bond measure?
Passage of the bond measure required 55% approval of voters voting in the Redwoods Community College District who vote on the bond measure.
Can the funds generated by the bond measure be used for purposes
other than those specified on the ballot?
California law states that the college may use these bond funds only for projects specified on a list provided to the County Registrar of Voters. The funds may not be used to pay staff salaries or fund any other projects.
How will the bond measure improve our community?
The bond measure will contribute to the continuing economic development of the community by improving the employability of CR graduates and by creating opportunities for local businesses to bid on projects funded by the bond.
How can the voters be sure that the bond funds will be used properly?
California law requires that an independent Citizens' Oversight Committee be appointed to oversee project expenditures and that the college provide annual independent financial and performance audits.