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Measure C - General Information

Aerial view of HG construction

Measure C Board Presentation Updates

Measure C Press Release

Facility Master Plan - Measure C Update

 

Measure C - Press Release 05-25-18

 

May 2018

In January 2018, Mother Lode's board reviewed project options on how to spend the general obligation bond dollars and what additional projects could be completed with other funds.  Three options were presented to the board (see board presentation below) to determine if the district would only do projects with bond dollars or should the board consider non-voter debt, and if so, how much debt.

The board approved option B which includes the following projects:

  • Indian Creek Elementary - parking and traffic improvements
  • Indian Creek Elementary - three (3) Kindergarten classroom replacements
  • Herbert C. Green Middle - parking and traffic improvements
  • Herbert C. Green Middle - five (5) 5th Grade classroom replacements
  • Herbert C. Green Middle - administration building replacement
  • Herbert C. Green Middle - roof and HVAC replacement

With these projects approved, additional borrowing will be needed in the amount of $3.8 million dollars.  

In March 2018, Government Financial Strategies, Inc. presented information to the board (see board presentation below) regarding the cost of borrowing the needed funds.  The primary source of repayment would come from State Facility Bond funding the district expects to receive over the next two to three years.  The remaining repayment would come from developer fees and possibly a small amount from the general fund.  The board approved the borrowing.

The funding has been finalized with lower interest than estimated and with greater flexibility than we had anticipated (see board presentation below).

Construction teams will be on both campus sites beginning on May 25, 2018.  We look forward to a busy summer of construction and welcoming you all to our improved campus sites on September 4, 2018!

Facility Master Plan – Measure C Update

October 2017

 

Mother Lode’s general obligation bond totaling $7.4 million dollars is in the bank. However, there is concern that the 3 planned projects will not all be completed in Summer 2018 as planned.  The District faces a budget and cash flow shortfall due to the delayed and slow implementation of the State Facility Bond ($3.465m) and project cost escalations.

  • Total Potential Revenues through 2020 = $12,910,029
  • Total Estimated Facility Costs through 2018 = $13,556,047
  • Projected Ending Budget Shortfall = $646,018
  • Projected Maximum Cash Flow Shortfall (mostly due to State Funding Delays) = $4,452,869
  • Majority of State bonds funds anticipated in 2020
  • Project Designs submitted to Department of State Architects (DSA) September 2017
  • State funding will be requested upon design completion and DSA approval – estimated to be in line for State funding by end of December 2017.
  • Local funds applied to FMP projects = $220,000/year (Fund 40 = $170,000/year Fund 25 = $50,000/year)

Mother Lode USD Board is exploring options to meet budget and cash flow shortfall (e.g., delaying portions of site projects/entire sites by 1-3 years).

 

Current projects go out to bid mid-October 2017. Depending upon how the bids come in, the Board will make decisions on how best to proceed December 2017.

Measure C

Thanks to our generous community support, Measure C was approved by the voters residing within the boundaries of Mother Lode Union School District (MLUSD) on June 7th, 2016.

 

Passage of the Measure authorized the District to issue $7,500,000 in bonds.

At the time of the election, the best estimate of the highest tax rate to be levied would not exceed $19.00 per $100,000 in assessed valuation on taxable property within the district boundaries. This estimate has not changed.

 

The basis of Measure C was to improve student safety, campus security, access for students with disabilities, and pick up and drop off zones to reduce traffic congestion; replace, repair and update aging classrooms and school facilities, including repairing deteriorating roofs, plumbing and electrical systems; remove asbestos and lead paint; and improve instructional technology and educational opportunities for students, shall the Mother Lode Union School District issue $7,500,000 in bonds at legal rates, with independent oversight, no money for administrators, and all funds used locally.