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OAKLAND USD—Would authorize Oakland USD to issue $735 million in bonds for: classroom repair and school safety improvements including upgrading classrooms, science labs, and technology; improving student safety and security; repairing bathrooms, electrical systems, and plumbing/sewers; and improving energy efficiency/earthquake safety; at legal rates, with citizens' oversight, audits, and no money for administrator salaries. Measure Y requires at least 55% of voters approving to pass.
Fiscal Impact: Would raise an average of $48.5 million annually for 30 years, and the County’s best estimate of the total cost of the bond (including principal and interest) that would be required to be repaid if all of the bonds are issued and sold is $1.4 billion. The best estimate of the annual average tax rate required to be levied to fund the bonds is $53 per $100,000 of assessed valuation of all property to be taxed in 2027/2028.