South Whittier School District held their monthly board meeting on Tuesday, August 15, at the district office.
This month the board and attendees heard one presentation regarding South Whittier’s bond history and a new bond program.
BOND History & New Bond Program Presentation
Jon Isom, from Isom Advisors, gave the board and attendees a presentation regarding South Whittier School District’s bond history and a possible new bond program.
Isom shared about past bond measures. This history stated that district voters passed a $15.0 million bond measure in 1998 at 84.8%, a $7.5 million bond measure in 2004 at 77.5%, and a $29.0 million bond measure in 2016 at 82.7% voter support. In addition, the district has no remaining authorization from the Election of 2016 with a final project completion in December. The district’s last payment from the 1998 bond is this year, which will result in a reduction in tax rates of $41.63. This means a new bond may not mean a raise in taxes, but that taxes could remain the same while the district receives funds for district-wide improvements.
In addition to the district’s history with bond measures, Isom shared the general obligation of bond proceeds and voter demographics including voter turn out. The board then got to see the timeline in which the district would have to submit a resolution calling an election.
The district will hold their next board meeting on Tuesday, September 12, in-person and via Zoom in the district board room.