Measure Y | californiachoices.org

My vote

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.

See Endorsements for Measure Y

Details

Pro/Con

Pro:

Proponents of Measure Y argue that the measure will provide funds for basic health and safety improvements and provide robust accountability requirements, including a citizens’ oversight committee and annual independent financial and performance audits. They argue some of the bond funds will help cool schoolyards, improve air quality, and make Oakland more resilient to climate change by converting parts of paved schoolyards into green spaces for recreation and school gardens.

A YES vote on this measure means: The Oakland Unified School District would be authorized to issue $735 million in general obligation bonds for the purposes included in the measure.

Con:

Opponents of Measure Y argue that Oakland USD cannot be trusted to manage the funds to ensure they are spent and accounted for appropriately, and that the district should not use bond funds for the projects outlined in Measure Y because they are too expensive and property taxes are already too high.

A NO vote on this measure means: The Oakland Unified School District would not be authorized to issue $735 million in general obligation bonds for the purposes included in the measure.

In Depth

In Depth:

Measure Y would authorize the Oakland Unified School District (“District”) to issue and sell bonds of up to $735 million in an aggregate principal amount. Approval of this measure will authorize a levy on the assessed value of taxable real property within the District by an amount needed to pay the principal and interest on these bonds in each year that the bonds are outstanding.

California Education Code Section 1500 restricts the use of the proceeds from the bonds’ sale to construction, reconstruction, rehabilitation or replacement of school facilities, and the acquisition of real property for school facilities. In addition, proceeds may only be used for the projects listed in the measure. This measure provides that its proceeds will fund projects outlined in the Measure (full list on page 14 here) that include district-wide and site-specific projects. The district-wide projects include, among others, repairing existing school sites, seismic retrofits, upgrading school facilities, and improving energy efficiency. The site-specific projects include similar improvements at specific schools throughout the district. Proceeds may not be used for any other purpose, such as administrator salaries. An independent citizens’ oversight committee will monitor the bond expenditures.

The best estimate of the highest tax rate required to be levied to fund the bonds is six cents per $100 ($60 per $100,000) of the assessed valuation in fiscal year 2027-2028. The best estimate of the average tax rate required to be levied to fund the bonds over the entire duration of the bond debt service is 5.3 cents per $100 ($53 per $100,000) of the assessed valuation. The final fiscal year anticipated to collect the tax is 2049-50, and the total debt service estimate to repay all of the bonds (including principal and interest) is $1,400,000,000.

Source: County Counsel's Impartial Analysis of Measure Y

Voter Resources

Official Resources

Alameda County Elections Office