This past Tuesday, November 5, voters and local communities continued to demonstrate their support for school facilities. Voters approved six out of eight new school bond measures, totaling $216.8 million out of $374.6 million on the ballot. This represents a 75% passage rate, which is consistent with historical averages. Additionally, all five school parcel taxes on the ballot passed.
Please click here for C.A.S.H.’s preliminary list of local school bonds and parcel tax measures on the November 5 ballot.
The Legislature completed its business and went into interim recess on September 13, and the Governor had until midnight on October 13 to sign or veto bills passed by the Legislature. The Legislature reconvenes on January 6, 2014, to begin the second year of the 2013-14 legislative session. Below is an update on priority legislation for C.A.S.H.
Fred Harris from the California Community Colleges Chancellor’s Office provided the following information.
Thanks to Vicenti, Lloyd, and Stutzman for providing this breaking news:
The Securities Exchange Commission (SEC) is working to enforce a rule that has been on the books since the 90′s for bond issuers, and California districts are high on the list of those at risk for failure to comply. Rule 15c2-12 requires underwriters to verify that the state or local government issuing bonds will agree to regularly post financial reports about the securities on an on-going basis. Continue reading →