A school bond “Feeding Frenzy” to tap OC property valuations

A school bond “Feeding Frenzy” to tap OC property valuations

By Deborah Pauly

The Republican Party of Orange County unanimously voted to oppose all 10 property tax increases, also known as school facilities bond measures, that it considered during endorsement deliberations at its regularly scheduled meeting Monday, August 15 and a Special meeting Wednesday, August 31.

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This list includes Orange Unified School District’s $288-million Measure S. Measure S is OUSD’s fourth attempt at duping voters into raising their own property taxes (and those of all their neighbors and surrounding businesses) for the next 30-years or more. Once interest is calculated, the cost to pay down the bond debt is about $600-million…just for this one bond.

Here is a list of all 10 local school facilities bond measures on ballots throughout Orange County this November. They total at least $2.471-billion. This will cost Orange County property owners at least $5-billion to pay back.

• Measure J – Anaheim Elementary School District ($318-million)
• Measure K – Brea Olinda Unified School District ($148-million)
• Measure M – Capistrano Unified School District ($889-million)
• Measure N – Centralia School District ($49-million)
• Measure O – Fountain Valley School District Facilities Bond ($63-million)
• Measure P – Garden Grove Unified School District ($311-million)
• Measure Q – Huntington Beach City School District ($160-million)
• Measure R – Ocean View School District ($169-million)
• Measure S – Orange Unified School District ($288-million)
• Measure T – Westminster School District ($76-million)

Adding insult to an already potentially injurious November election, there is also California Proposition 51, a $9-billion (Billion with a B) statewide school bond that will cost about $18-billion to pay off.

A veritable feeding frenzy is taking place in the State of California, which may explain the unprecedented nature of the OC GOP vote in mid-August. There was not a single voice speaking out to defend these bonds. It was a unanimous vote to oppose them all. They are so staggering in numbers and dollar amounts.

This is truly a ruthless attack on taxpayers, property owners, renters and businesses in the guise of school bond measures. Bond financiers, sellers and consultants are salivating at the thought of further tapping into the property valuations here in Orange County. At least half – sometimes much more — of the new property taxes collected will line their pockets.

Lest readers think this is an issue only of partisan concern, I’d urge them to look into Democrat California State Treasurer John Chiang’s crack down on the “Pay to Play” nature of these bond scams, which he has characterized as corrupt.

Do you know why he called them corrupt? Because they are. It excites me to be in agreement with a Democrat over something.

Read more on Mr. Chiang’s efforts to call attention to this problem.

http://www.bondbuyer.com/news/regionalnews/california-treasurer-cracks-down-on-pay-to-play-1109526-1.html

Stop the Rip-Off! No on Measure S! Vote NO on all Bonds.
__________________

Deborah Pauly is an elected member of the Republican Party of Orange County, representing the 68th Assembly District and a former Councilwoman in the City of Villa Park. She is currently serving as Principal Officer of the Stop the Rip-Off! No on Measure S! campaign committee.

Friend Deborah on FACEBOOK; Follow her on Twitter @YnotDebPauly
Email: deborahpauly@gmail.com ++ Cell: (714) 394-8400
https://www.facebook.com/deborahpaulyforoc/

Visit https://www.facebook.com/No2SchoolBondDebt/ or www.StopMeasureS.com

About Cathy Richardson

Cathy is the creator of OC Tea Party Blog and Co-Founder of South Orange County 912, a tea party group in Southern California, founded March 30, 2009. She is an advocate for American values and a return to the principles of our Declaration of Independence and our U.S. Constitution. You can reach her here.

One Response to “A school bond “Feeding Frenzy” to tap OC property valuations”

  1. Dorothy Sheldon says:

    We are lucky to have Deborah Pauly’s wise perspective on issues concerning home owners. Thank you Deborah.

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