Commentary on Measure C

Are you sure you want vote to support this extravagant measure? It has no accountability.

This campaign was designed by Isom Advisors. We figured out just the right words to get you to you to open up your checkbook.

We'd also like to introduce you to our partners -- bond lawyers, brokers, wealthy investors, architects, management firms, construction companies, and trade unions. We all stand to make a ton of money on these bonds. Our profits come right off the top, before a penny is actually spent on improving the facilities.

We're not just doing it for the money. We like to show off our work in Architectural Digest and other places where the rich and famous congregate.

Remember, we've taken a lot of risk. We gave money to get your governing board members elected, so they'd be sure to remember us when we came around for a hand-out later.

It's just business-as-usual, here in sunny Corruptifornia.

Please don't read the fine print. That's just put in by the lawyers to make what we're going to do to for you legal.

When you see highlighting in the documents below, hover overCriticalExample commentary. it to see the commentary.

Measure C Question

COTATI-ROHNERT PARK UNIFIED SCHOOL DISTRICT
MEASURE C
C

To bring all classrooms up to the same standard and protect quality education with funding that cannot be taken by the State, shall Cotati-Rohnert Park Unified School District improve classrooms, science labs and libraries to meet modern educational/safety standards; remove lead/asbestosCriticalUltimate guilt! Are your children going to school in death traps? Has the district identified any facility in the whole district that has a specific, known asbestos problem? Of course not! It's just a ploy to get you to vote yes. where found; and add multiuse classrooms for performing arts/science/vocational education programs; by issuing $80 million in bonds, at legal rates, with citizens' oversight, annual audits, no money for administrators, and all funds staying local?

Impartial Analysis for Measure C

COUNTY COUNSEL'S IMPARTIAL ANALYSIS OF MEASURE C

The California Constitution allows school districts to borrow money by issuing bonds to pay for construction, repair, replacement, and acquisition of school facilities if 55 percent of the voters who vote on the measure approve the sale of the bonds. The Cotati-Rohnert Park Unified School District Board of Trustees has called for an election and placed on the ballot the question of whether to issue bonds in the maximum amount of $80 million for such purposes.

Money raised by bond sales can only be used for the purposes and projects stated in the Bond Project List set forth in Measure C, which is published in this voter information pamphlet. Projects include, but are not limited to: repairing and upgrading existing classrooms and other facilities; upgrading classroom computers and instructional technology; improving earthquake and fire safety systems; improving school energy efficiency; upgrading campus security; removing hazardous materials such as lead and asbestos; and improving access for students and others with disabilities. As required by state law, the measure prohibits using bond proceeds for teacher or administrator salaries or other operating expenses.

The inclusion of a project on the Bond Project List is not a guarantee that the project will be funded or completed. The Measure states that the District's capital needs exceed the amount of the proposed bonds, and the District will seek funds from other sources to advance the Bond Project List as far as possible. In 2014, the voters approved bond funding for the first phase of repairs and updates to District facilities. The proposed bonds under Measure C would further advance the Bond Project List.

If Measure C is adopted, the District's Board will conduct annual, independent financial and performance audits to ensure that bond proceeds have been expended only on the projects on the Bond Project List. In addition, an Independent Citizens' Oversight Committee will be established within sixty days of the entry of the election results on the Board's minutes. The proceeds of the bonds will be maintained in a separate account in the County Treasury, and the Superintendent must provide an annual report to the Board on the status of projects undertaken and the amount of bond proceeds received and expended in that year. These requirements are set out as "Accountability Safeguards" in the Measure.

If Measure C is approved, the District expects to sell the bonds in series over time. The funds to repay the bonds would be raised by an increase in property taxes based upon the value of land and improvements in the District. The interest rate on the bonds would depend on the market rate at the time the bonds are sold, but cannot exceed the rate set by state law. The Tax Rate Statement prepared by the District Superintendent, which follows this analysis, estimates the property tax levies required to pay off the bonds. The estimated tax levies are a projection, and could go up or down, depending on a number of factors including the timing and amount of bond sales, and changes in assessed value of property in the District.

BRUCE D. GOLDSTEIN
County Counsel

By: s/ Robert Pittman
Chief Deputy County Counsel

Argument in Favor of Measure C

Sonoma County 49-501 9330
VOTER'S PAMPHLET
MEASURES, ANALYSES AND ARGUMENTS
(whichever is applicable to your ballot)
Arguments in support of, or in opposition to, the proposed laws are the opinions of the authors.

ARGUMENT IN FAVOR OF MEASURE C

Vote Yes on C to bring all Rohnert Park and Cotati schools up to current educational and safety standards and support 21st-century education. Improved academic programs and a rigorous curriculum at our local schools have led to growing student achievement and enrollment. As enrollment increases, Measure C will ensure schools have the necessary classrooms, science labs and libraries to prevent overcrowding.

While some of our schools have been updated, many schools and classrooms are over 40 years old and require updates and upgrades to provide all students with a safe, modern learning environment. With Measure C, repairing aging heating and air conditioning systems can help cut utility bills, providing cost savings that can be used to support classroom teaching and core academic programs.

Yes on C will: Update classrooms, science labs and libraries to meet modern academic standards; prevent classroom overcrowding; remove asbestos, lead and other hazardous materials from schools; ensure all schools meet current earthquake safety standards; build multiuse classrooms for performing arts, science and vocational education programs; and make all classrooms accessible for students with disabilities.

Fiscal Accountability: Measure C will make Cotati and Rohnert Park schools eligible for millions of dollars in state matching funds that will otherwise go to other communities. All funds will stay local and cannot be taken away by Sacramento or used for administrators' salaries. Independent citizens' oversight and annual audits will be required, and Measure C will help ensure developers pay their fair share of school construction costs.

We are fortunate to live in a community that has supported our local schools, allowing us to complete the first phase of repairs and updates on time and budget. Measure C is needed for the next phase of improvements.

Please vote Yes on C for safe, updated classrooms and labs for all Rohnert Park and Cotati students!

Rebuttal to Argument in Favor of Measure C

REBUTTAL TO ARGUMENT IN FAVOR OF MEASURE C

Why won't CRPUSD discuss specifics and facts? Generalizations are not the same as accurate information. Generalizations are unacceptable when requesting that taxpayers spend $500 million to $1 billion dollars for school improvements. Three reasons to vote No on Measure C: (1) CRPUSD has failed to provide accurate funding projections, and as taxpayers, we deserve to understand the true costs. South San Francisco USD was forced to pull $10 million from salaries and classroom supplies to cover its bond shortfall. Are we going to place the burden of new buildings on our students and teachers? As parents and taxpayers, we can't afford the same mistake; (2) CRPUSD is using a loophole in the bidding law called "lease-leaseback." In a 2015 court case this practice was deemed illegal by the State Supreme Court and raises concerns about the potential conflicts of interest and uncompetitive bids awarded through the lease-leaseback method; (3) CRPUSD's 2014 bond campaign was partially supported by organizations that stood to gain financially from its passage. Known as "pay-to-play," this hidden practice subverts the democratic process. On July 27, 2016, the Bond Buyer paper reported that "California officials are concerned with 'pay to play' tactics in which bond counsel, underwriters, and financial advisors are offering to fund or provide campaign services in exchange for contracts to issue the bonds once they are approved by voters." The current CRPUSD Board of Trustees hasn't fulfilled its financial responsibilities. Until they do, please Vote No on Measure C.

Argument Against Measure C

ARGUMENT AGAINST MEASURE C

No on Measure C

We can't afford gold plated buildings and they don't improve learning. The average cost of a bond is 3.89 times its original amount. The $80,000,000 bond will realistically cost the taxpayers $311,200,000. But it gets worse, Measure C is only the second of three planned bond measures. Say no to $1 billion in new debt. Measure C does not provide an exemption for senior citizens and unfairly burdens those on a fixed income with years of debt. Vote no on Measure C to ensure CRPUSD is fiscally responsible and prioritizes improvements appropriately. In 9/2014, Moody's rating service assigned CRPUSD an A2 rating with a Negative Outlook. "The negative outlook reflects the ongoing pressures on the district's finances." The district "has yet to demonstrate a sustained financial recovery." Let's not throw good money after bad management. The three bonds and parcel tax assessments will add approximately 28% to the tax bill of a home with an assessed value of just $235,000. The additional tax burden creates upward pressure on rents making it harder for young families to move here, the same families we need to attract to increase enrollment in our schools. Regardless of what you hear, CRPUSD does not need more capacity. CRPUSD's own Developer Fee Study, dated March 2016, finds that projected new enrollment over the next 5 years will be just 184 students and that the district's current capacity can accommodate 1,761 new students. Before the CRPUSD comes to the taxpayers for additional funds, they should look to the developers. With the passage of Senate Bill 50 and Proposition 1A, alternative fees can be increased and collected from developers to fund new school facility construction.

Rebuttal to Argument Against Measure C

REBUTTAL TO ARGUMENT AGAINST MEASURE C

The lone opponent to Measure C clearly doesn't understand the needs of Rohnert Park and Cotati schools. Measure C is the only way to repair and upgrade our schools to prepare local students for college and today's careers.

The opponent to Measure C surely doesn't know that our schools have been on the rise in recent years, with increased test scores and enrollment. But to continue this progress, we must provide the classrooms, labs and instructional technology to support great education.

Cotati-Rohnert Park Unified School District conducted a thorough facilities master planning process incorporating input from parents, teachers, school facility experts and community members. You can read the report here: http://www.crpusd.org/Page/4538

Measure C is the second phase of a thoughtful approach to bringing our schools up to modern safety and academic standards. While some schools have been upgraded, we need Measure C to ensure all students have access to safe, well-maintained schools.

Fiscal accountability is an integral part of Measure C — by law, independent citizens' oversight and annual audits are mandatory. Measure C will in fact help ensure developers pay their fair share of school construction costs. Every penny from Measure C will support our schools — no funds can be taken by the State or used for administrators' salaries. Measure C will make Cotati and Rohnert Park schools eligible for millions of dollars in state matching funds that will otherwise go to other communities.

Don't be fooled— we need Measure C. Join parents, teachers, and business and community leaders in voting Yes on C for Cotati and Rohnert Park schools.

Full Text of Measure C

Sonoma County 49-502 9330
VOTER'S PAMPHLET
MEASURES, ANALYSES AND ARGUMENTS
(whichever is applicable to your ballot)
Arguments in support of, or in opposition to, the proposed laws are the opinions of the authors.

FULL TEXT OF MEASURE C

EXHIBIT A

This proposition may be known and referred to as the Cotati-Rohnert Park Unified School District General Obligation Bond of 2016, or Measure __.

FINDINGS

The Cotati-Rohnert Park Unified School District (the "District") provides top quality education for local students. The District remains focused on creating innovative programs for students, opening neighborhood schools, attracting students and preparing them for college and careers. As a result test scores have steadily improved over the last few years.

As we look to the future and prepare our students for college and 21st-century careers, we are critically evaluating our facilities needs. The District undertook an extensive facilities master planning process in 2013, which identified over $240 million in critical repairs and updates needed at our district schools. The next year, our community approved a local school bond with over 63% support, which allowed us to complete the first phase of priority repairs and upgrades to classrooms, labs and educational technology and infrastructure. Although we have come far, it was always known that our facilities needs exceeded the funding that this measure provided. There is still work to be done to bring all classrooms up to the same standard for a modern education.

If approved, Measure __ would fund facility upgrades, including: updating classrooms, science labs and libraries to meet modern academic and educational standards; preventing classroom overcrowding; removing asbestos, lead and other hazardous materials from schools; ensuring all schools meet current earthquake safety standards; building multiuse classrooms for performing arts, science and vocational education programs; and making all classrooms accessible for students with disabilities

Measure __ requires strict taxpayer protections to ensure funds are spent appropriately. All funds must stay here in the District and none of the funds can be taken away by the State. An independent citizens' oversight committee will ensure the funds are spent as promised and annual audits are mandatory.

Measure __ was developed following input from parents, teachers, school facility experts, school funding experts, local business leaders, local civic leaders and other members of the community.

BOND AUTHORIZATION

By approval of this proposition by at least 55% of the registered voters voting on the proposition, the Cotati-Rohnert Park Unified School District (the "District") shall be authorized to issue and sell bonds of up to $80,000,000 in aggregate principal amount to provide financing for the specific school facilities projects listed in the Bond Project List below, and in order to qualify to receive State matching grant funds, subject to all of the accountability safeguards specified below.

ACCOUNTABILITY SAFEGUARDS

The provisions in this section are specifically included in this proposition in order that the District's voters and taxpayers may be assured that their money will be spent wisely to address specific facilities needs of the District, all in compliance with the requirements of Article XIII A, Section 1(b)(3) of the State Constitution, and the Strict Accountability in Local School Construction Bonds Act of 2000 (codified at Education Code Sections 15264 and following).

Evaluation of Needs. The Board of Trustees hereby certifies that it has evaluated safety, class size reduction and information technology needs in developing the Bond Project List and has prepared an updated facilities master plan which is incorporated hereby into the Bond Project List.

Limitation on Use of Bond Proceeds. The State of California does not have the power to take locally approved school district bond funds for any State purposes. The Constitution allows proceeds from the sale of bonds authorized by this proposition to be used only for the construction, reconstruction, rehabilitation, or replacement of school facilities listed in this proposition, including the furnishing and equipping of school facilities, or the acquisition or lease of real property for school facilities, and not for any other purpose, including teacher and administrator salaries and other school operating expenses. Proceeds of the bonds may be used to pay or reimburse the District for the cost of District staffCriticalWhat was that they said about no administrative salaries?Proceeds of the bonds may be used to pay or reimburse the District for the cost of District staff only when performing work on or necessary and incidentalCriticalWho do you think gets to decide? to the bond projects.

Independent Citizens' Oversight Committee. The Board of Trustees shall establish an independent Citizens' Oversight Committee (pursuant to Education Code Section 15278 and following), to ensure bond proceeds are spent only for the school facilities projects listed in the Bond Project List. The committee shall be established within 60 days of the date on which the Board of Trustees enters the election results on its minutes.

Annual Performance Audits. The Board of Trustees shall conduct an annual, independent performance audit to ensure that the bond proceeds have been expended only on the school facilities projects listed in the Bond Project List.

Annual Financial Audits. The Board of Trustees shall conduct an annual, independent financial audit of the bond proceeds (which shall be separate from the District's regular annual financial audit) until all of those proceeds have been spent for the school facilities projects listed in the Bond Project List.

Special Bond Proceeds Account; Annual Report to Board. Upon approval of this proposition and the sale of any bonds approved, the Board of Trustees shall take actions necessary pursuant to Government Code Section 53410 and following to establish an account in which proceeds of the sale of bonds will be deposited. As long as any proceeds of the bonds remain unexpended, the Superintendent or the Chief Business Official of the District (or such other employee as may perform substantially similar duties) shall cause a report to be filed with the Board no later than December 31 of each year, commencing December 31 of the year in which bonds are first issued, stating (1) the amount of bond proceeds received and expended in that year, and (2) the status of any project funded or to be funded from bond proceeds. The report may relate to the calendar year, fiscal year, or other appropriate annual period as such officer shall determine, and may be incorporated into the annual budget, audit, or other appropriate routine report to the Board.

FURTHER SPECIFICATIONS

Specific Purposes. All of the purposes enumerated in this proposition shall be united and voted upon as one single proposition, pursuant to Education Code Section 15100, and shall constitute the specific purposes of the bonds, and proceeds of the bonds shall be spent only for such purposes, pursuant to Government Code Section 53410.

Joint Use. The District may enter into agreements with the County of Sonoma or other public agencies or nonprofit organizations for joint use of school facilities financed with the proceeds of the bonds in accordance with Education Code Section 17077.42 (or any successor provision). The District may seek State grant funds for eligible joint-use projects as permitted by law, and this proposition hereby specifies and acknowledges that bond funds will or may be used to fund all or a portion of the local share for any eligible joint-use projects identified in the Bond Project List or as otherwise permitted by California State regulations, as the Board of Trustees shall determine.

Rate of Interest. The bonds shall bear interest at a rate per annum not exceeding the statutory maximum, payable at the time or times permitted by law.

Term of Bonds. The number of years the whole or any part of the bonds are to run shall not exceed the legal limit, though this shall not preclude bonds from being sold which mature prior to the legal limit.

Sonoma County 49-503 9330
VOTER'S PAMPHLET
MEASURES, ANALYSES AND ARGUMENTS
(whichever is applicable to your ballot)
Arguments in support of, or in opposition to, the proposed laws are the opinions of the authors.
CONT. NEXT PAGE
FULL TEXT OF MEASURE C, CONT.

BOND PROJECT LIST

The Board in Cotati-Rohnert Park Unified School District evaluated the urgent and critical facilities needs at all schools, including safety issues, enrollment trends, and computer and information technology, in developing the scope of projects to be funded. The District worked with teachers, staff and members of the community to conduct a facilities evaluation and develop a Facilities Master Plan. The Board concluded that if these needs are not addressed now, the problems will only become more pressing and expensive to address. Therefore, in approving this Project List, the Board of Trustees determines that:

1. (i) all bond money must stay exclusively in our local community, under local control and cannot be taken away by the State; and
2. (ii) in repairing aging schools, priority must be given to the basics, such as fixing leaky roofsCriticalIs it a coincidence that every district in the state has "leaky roofs"? You might even ask if leaky roofs actually exist? If they do, why haven't they been repaired yet. Are they reported on the School Accountability Report Card? If not, then you're being lied to. According to the school bond cartel's professional marketing study, claiming "leaky roofs" translates directly into yes votes from voters who are made to feel guilty about it., bathrooms, plumbing, HVAC, and sewer lines; and
3. (iii) priority should also be given to school and student safety by removing hazardous materials from old school structures and improving earthquake and fire safety; and
4. (iv) schools must be clean and well-maintained learning environments; and
5. (v) schools must have the classrooms which accommodate a growing student enrollment with upgraded, up-to-date science labs and classroom technology to allow our students to excel in the 21st century economy; and
6. (vi) the Districtmust establish an independent citizens' oversight committee and require annual independent audits to make sure all money is spent as authorized; and
7. (vii) bond proceeds shall be used to improve all schools within the District.
8. (viii) approval of this bond measure does not guarantee that the proposed projects will be funded beyond the local revenues generated by the measure. The District's capital needs exceed the amount of bonds the voters are being asked to authorize. The District will seek funds from other sources to advance the project list as far as possible. If matching funds from the State or any other source become available, they will be used for and applied to the Bond Project List.

Basic School Repairs and Upgrades to Provide Safe, Well-Maintained Classrooms

Goal and Benefits: To maintain high quality education at our neighborhood schools, schools will benefit from the renovation, repair and upgrade of aging classrooms and science labs, fixing leaking roofs and improving fire and earthquake safety systems, and up-to-date classroom technology, allowing all children have the resources they need to continue to excel:

•  Replace and repair leaking roofs
•  Make schools safe by removing hazardous materials, such as asbestos and lead paint
•  Upgrade earthquake and safety equipment, including phone, fire alarms, and communications systems
•  Renovate school restrooms
•  Upgrade and perform essential safety repairs and improvements on classrooms, science laboratories, food services facilities, student services facilities and other school and athletics facilities
•  Repair outdated electrical systems and wiring to improve efficiency and safety
•  Repair, replace, or upgrade inefficient and aging heating, cooling and plumbing systems
•  Upgrade, repair or replace playground equipment, asphalt and turf for student safety and improved access for people with disabilities
•  Make safety improvements on and around school sites, including improved fencing, walkways and overhangs, better access for people with disabilities, and traffic circulation and parking improvements
•  Replace drinking fountains, trash receptacles, enclosures and equipment
•  Renovate, repair, paint and improve school campuses, shade structures and grounds
•  Establish programs to support regular and long term upgrades and replacement of outdated facilities, equipment, and grounds and to support enrollment growth by creating additional classrooms and/or re-opening sites

Instructional Technology Upgrades For Effective Student Learning

Goal and Purpose: To upgrade classroom computers and computer technology to allow our teachers and students to use up-to-date teaching methods so that our students are prepared to excel in the 21st century economy:

•  Acquire and upgrade technology infrastructure
•  Provide and repair up-to-date technology, data and wireless communications equipment
•  Add, update and expand telecommunications, internet and network connections
•  Add, upgrade and replace computers, hardware and software systems
•  Add, upgrade and replace classroom instructional equipment including furniture
•  Add, upgrade and replace electrical systems to support improved technology
•  Establish programs to support regular and long term upgrades to technology systems, hardware, software and equipment
•  Build new science facilities
•  Upgrade media and audio/visual equipment

Student Health and Safety, Earthquake Safety and Energy Efficiency Projects

Goal and Purpose: Since good, safe, clean, well-maintained and up-to-date schools help protect and improve local property values and reduce maintenance and operating costs returning more money to the classroom, schools and school sites will benefit from a variety of health and safety projects, such as:

•  Upgrade earthquake safety pursuant to requirements of State of California law and regulation.
•  Replace old and inefficient windows, lighting, irrigation, heating and ventilation systems which waste money and use the savings to prevent cuts to teacher and instructional programs
•  Upgrade fire alarm systems, improve fire safety equipment and fire exit doors to make students safer in the event of an emergency
•  Upgrade schools to meet accessibility requirements for students, teachers and staff with disabilities
•  Install energy efficient systems to save money and return the savings to the classroom
•  Upgrade emergency communication systems to improve student safety

Sonoma County 49-504 9330
VOTER'S PAMPHLET
MEASURES, ANALYSES AND ARGUMENTS
(whichever is applicable to your ballot)
Arguments in support of, or in opposition to, the proposed laws are the opinions of the authors.
CONT. NEXT PAGE
FULL TEXT OF MEASURE C, CONT.

Adding and Replacing Classrooms To Enhance Student Achievement

Goal and Purpose: To enhance educational programs and accommodate a growing student enrollment, schools would benefit from the expansion of additional and replacement of existing earthquake and accessibility code compliant facilities, such as:

•  Add and replace permanent and relocatable classrooms, multi-purpose/assembly rooms, modern performing arts classrooms, and educational support facilities.
•  Accessibility upgrades as mandated.
•  Additional electrical service capacity to improve computer technology and internet access.

Each project listed is assumed to include its share of costs of the election and bond issuance and other construction-related costs, such as construction management, architectural, engineering, inspection and other planning costs, legal, accounting and similar fees, independent annual financial and performance audits, a customary construction contingency, and other costs incidental to and necessary for completion of the listed projects (whether work is performed by the District or by third parties), including:

•  Remove, dispose of, and otherwise remediate hazardous materials, including asbestos, lead, etc., where necessary.
•  .Address unforeseen conditions revealed by construction/modernization (including plumbing or gas line breaks, dry rot, seismic, structural, etc.).
•  Site preparation/restoration in connection with new construction, renovation or remodeling, or installation or removal of relocatable classrooms, including ingress and egress, demolition of existing structures, removing, replacing, or installing irrigation and drainage, utility lines (such as gas lines, water lines, electrical lines, sewer lines, and communication lines), trees and landscaping, relocating fire access roads, traffic lights and mitigation, and acquiring any necessary easements, licenses, or rights of way to the property.
•  Rental or construction of storage facilities and other space on an interim basis, as needed to accommodate construction materials, equipment, and personnel, and interim classrooms (including relocatables) for students and school functions or other storage for classroom materials displaced during construction.
•  Acquisition of any of the facilities on the Bond Project List through temporary lease or lease-purchase arrangements, including payment or prepayment of lease payments for the Technology High SchoolCriticalLeases are OPERATING expenses explicitly prohibited by the Constitution Article XIII-A Section 1(b)(3)(A) (Proposition 39). "not for any other purpose, including teacher and administrator salaries and other school operating expenses." located at Sonoma State University, or execute purchase option under a lease for any of these authorized facilities.
•  Furnishing and equipping of existing and newly constructed, modernized or rehabilitated classrooms and facilities on an ongoing basis, including to replace worn, broken, or out-of-date furniture and equipment for all classrooms, athletic facilities and other facilities, as needed.

For any project involving renovation, modernization, remodeling or rehabilitation of a building or the major portion of a building, the District may proceed with new replacement construction instead (including any necessary demolition), if the Board of Trustees determines that replacement and new construction is more practical than rehabilitation and renovation, considering the building's age, condition, expected remaining life, comparative cost, and other relevant factors.

The Bond Project List shall be considered a part of this ballot proposition, and shall be reproduced in any official document required to contain the full statement of the bond proposition.

Measure C Tax Rate Statement

TAX RATE STATEMENT — MEASURE C

An election will be held in the Cotati-Rohnert Park Unified School District (the "District") on November 8, 2016 to authorize the sale of up to $80,000,000 in general obligation bonds. The following information is submitted in compliance with Sections 9400-9404 of the California Elections Code.

1. The best estimate of the tax rate that would be required to fund this bond issue during the first fiscal year after the sale of the first series of bonds, based on estimated assessed valuations available at the time of filing of this statement, is $.04900 per $100 ($49.00 per $100,000) of assessed valuation in fiscal year 2017-18.

2. The best estimate of the tax rate that would be required to fund this bond issue during the first fiscal year after the sale of the last series of bonds, based on estimated assessed valuations available at the time of filing of this statement, is $.04900 per $100 ($49.00 per $100,000) of assessed valuation in fiscal year 2022-23.

3. The best estimate of the highest tax rate that would be required to fund this bond issue, based on estimated assessed valuations available at the time of filing this statement, is $.04900 per $100 ($49.00 per $100,000) of assessed valuation. This rate is projected to apply in each fiscal year that the bonds are outstanding.

4. The best estimate from official sources of the total debt service, including the principal and interest, that would be required to be repaid if all the bonds are issued and sold will be approximately $164,000,000.

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 bond sales, the amount of bonds sold at each sale and actual increases in assessed valuations. The timing of the bond sales and the amount of bonds sold at any given time will be determined by the needs of the District. Actual assessed valuations will depend upon the amount and value of taxable property within the District as determined in the assessment and the equalization process.

Dated: June 28, 2016
s/ Robert Haley, Ed.D.
Superintendent
Cotati-Rohnert Park Unified School District