As shown on the official ballot, an election is being held in the Sweetwater Union High School District (“District”) on November 7, 2006, for the purpose of submitting to the registered voters within the District the question of whether the District shall issue and sell bonds in an amount not to exceed $644,000,000 for the purpose of providing funds for the acquisition, construction and upgrading of school classrooms and school building projects as set forth in the resolution of the District calling such bond election. This measure will authorize a tax sufficient for interest on, and redemption of, the bonds. The bonds shall bear interest at a rate, or rates to be established at such time as the bonds are sold, in one or more series, at fixed or variable interest rates not to exceed the maximum applicable statutory rate for such bonds. If such bonds are authorized and sold, the principal thereof and the interest thereon are a general obligation of the District, payable from the proceeds of ad valorem taxes on real property located within the District. The following information is submitted in compliance with California Elections Code Sections 9401 through 9404.

The best estimate from official sources of the tax rate that would be required to be levied to fund the bond issue during the first fiscal year after the first sale of the bonds based on assessed valuations available at the time of the election or a projection based on experience within the same jurisdiction or other demonstrable factors is $0.027 per $100 ($27.00 per $100,000) of assessed valuation.

It is anticipated that the bonds will be sold in series. The best estimate from official sources of the tax rate which would be required to be levied to fund the bond issue during the first fiscal year after the last sale of the bonds is $0.027 per $100 ($27.00 per $100,000) of assessed valuation.

The best estimate from official sources of the highest tax rate which would be required to be levied to fund the bond issue during the term of the bond issue, based on assessed valuations available at the time of the election or a projection based on experience within the same jurisdiction or other demonstrable factors, is $0.027 per $100 ($27.00 per $100,000) of assessed valuation. It is estimated that the highest tax rate would apply in the 2018-2019 tax year based on assessed valuations available at the time of the election or a projection based on experience within the same jurisdiction or other demonstrable factors.
Voters should note that these estimated tax rates are based on the assessed value of taxable property within the District as shown on the official rolls of San Diego County, not on the property’s market value. In addition, taxpayers eligible for a property tax exemption, such as the homeowner’s exemption, will be taxed at a lower effective rate than described above. Certain taxpayers may also be eligible to postpone the payment of taxes. Property owners should consult their own property tax bills and tax advisors to determine their property’s assessed value and any applicable tax exemptions.

Attention of all voters is directed to the fact that these estimates are based on projections derived from information obtained from official sources. The actual tax rates and the years in which they will apply may vary depending on the timing of any bond sales, the amount of bonds sold, and actual increases in assessed valuations. The timing of the bond sales and the amount of bonds sold at any given time will be governed by the needs of the District. Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined by the San Diego County Assessor in the annual assessment and the equalization process.