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Board Workshop 9-3-13 pt. 2 of 2

Added Sep 04, 2013 •

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can a phone be structured with equal annual payments you certainly can do that can a bond be structured with one big payment in your 40 yes my question is I think it's like 6 or so where you were talking about inside the 91 schools pasco's on out of the hundreds of put it up there and I was interested in  range 1000  what is the range that other cities have a dollars per hundred thousand open contacts  that's a great question all we have here although you can't read it it is the principal amount of that were proved so for example the first one on the list Alum Rock Union School District in Santa Clara approved 125 million dollars of bond what did each of these school districts High School Districts or Unified School District for the truth or ask voters to approve as far as taxes left here but generally speaking the Unified School District probably close to the $60 range under prop 39 Elementary and individually are limited to $30 per hundred thousand so you wouldn't have had districts asking voters to approve $1 or $2 or even a $10 tax most of the school district's probably got closer to their legal prop 39 cats the weekend we can check that in the back talking about the total amount that they asked for or a hundred. yeah cuz total for home stage that it is sadly my phone is fixed compared to both are actually fixed interest rates so the interest rates are fixed when the bonds are sold whether it's a current respond or a cab can you just touch on a right now does have a higher interest rate and the difference between the two in the year one so he had a one-year of Hernan Bond or one-year cat the difference in the bar in cost would be about .4% or 40 basis points if you went all the way out to year 30 or the difference in the bar and cost comes closer to about 1.4% so that's why cats are a more costly vehicles I do want to point out in each of the district's previous Mission wences no capital appreciation Bonds were ever utilized by over City Unified School District and that's why your repayment ratios are in the two and a half to one versus some School District we have read in the paper approached or exceeded attend you're not even close to it what is the total amount of this District hand in bonded for salt and I think I heard you say that we could go as high as 60 $400,000 in assessed valuation so I assume you have a number out there  yes so to your question is there a recording limit on the amount the tax rate so those are statutory limits on a tax rate as far as a statutory amount of debt that a school district can have at any given time that answer is it's a function of your chest guy uation x a definite factor for a unified school district that debt limit factor is two and a half percent from that number you deduct your outstanding bonds so what does it mean for Culver City Unified School District your assessed valuation is currently about 80 billion dollars eight billion dollars x two and a half percent h202 million dollars you have 33 million dollars of bonds outstanding so you're statutory bonding capacity is. 100 69 million dollars what would I cost we haven't run that number yet because the district 169 million-dollar Bond is actually more than a what a $60 tax could actually generate or Culver City Unified School District x-ray generator Culver City  if it's somewhere around 105 million would be the absolute Maps so if your house is assessed at $500,000 if your house is assessed at $500,000 and you're talking about $60 / which is not what we were talking about a couple months ago just be clear but it's just 60 times 5 minutes $300 is $300 500 call the smallest value not the other day stop but if you took a median single-family home and said what is that value stock valuation the median assessed value is $3,000  just forget about the commercial property has much much higher scratch back to a measured speed that's the 25-year images ation. Horses  2:40 or so there's 27 years left on that how to delete financing in 2005  series that were significant to shorten Sydney 2005 refinancing took their place so they total repayment ratio was lowered from 2.42 to 1 - 2.392 by doing a 2005 Saturn additional 40 years so it's 2045 great question no as general obligation bonds you are not allowed to extend the maturity so the final mature he was originally 2038 and in fact the refinancing lowered it to 2033 so dr. short Mike King events river is considered the benefit to community of having great schools great schools values go up  what's the rationale behind the massive differences that you would have on an assessed values bone measurement where everybody's been the same people that hang Wild Weekend numbers so because if you go to 1600 square that has a side by side rocket probably be about the same  butt buster Canyon long when they were psst what's the rationale right now probate office in 1970 7 years ago. 13 Proposition 13 passed and what that did was set at Benchmark what your assessed valuation was in the seventies could not grow more than the lesser of two percent or the seaport something latian Factor on consumer price index oh the people who have been in their homes for a lot longer than since the seventies or eighties their phones are significantly below market value and if they were to another home to the brand new family that brand new family would pay at market price and then that then becomes their Benchmark assessed valuation so it Billy is a function of how long you've been in your home if you bought one home in 1970 versus purchasing and in 2007 you'll have a different assessed valuation will give you a different tax that you're ultimately pay but that's a function of Prop 13 passed away back in the late seventies Dean Ambrose significant I think I'm back and then 1960 or sound like that's been arrested in your for 50 years and you pay whatever you paid so there's this guy you is now 50 right in the tax is $60 per 100,000 so that person won't be paying $30 a year for this on okay so so did so the impact on longtime residents probably isn't nearly as great as an impact on new residents Canton school what time do benefits are seniors  so if we if we have a cap of 105 million and borrow all of it  that's it went can you know where do you go from there another words that's a one shot deal right the principal disapprove on the IRS says you have to spend down your money within a three-year time frame so if Clover City Unified School District 105 million dollars at one time I'm not sure that it could actually spend it all in three or maybe good but generally school districts issue issue their authors individual series much like your previous measure T your 40 million dollars was not accessed all at once it was 10 million 20 million 10 valuation right now is based on we can only borrow 1:05 because we go 33 borrow the word with another words in 30 years where what are we leaving our children Wilton I think what it was saying tell me if I'm right it is that if we match add r value now doesn't it leave us in the position where if we did need something on an emergency basis of something five years down the road we would be able to the money exactly what we've already paid off so if during that time span  another 10 million paid off that we have 10 million in with almost reserve price and soap  and then hopefully they'll be some pause  the questions will make sense then as well Sonic and it's a complicated question but generally bonds are issued with a 10-year optional call provision meaning after 10 years they can be repaid now depending on when that bond is refinance the IRS has two different definitions of a refinancing and bands for funding and a Perth refunding in advance for funding is when you refinance those bonds more than 90 days from the Call of Duty sew-in in advance for funding case you only get one opportunity to do an advanced for funding now a current or funding which is refinance your balance within 90 days of the call of date you can do as many current or fundings as you like so that's the limit and the IRS put that in play because they didn't want school districts or any other governmental issuers to issue refunding bonds and then a year later raise come down again and then you wish you were funding bonding conditioning bonds they wanted to limit the amount of time that you actually did Bond refinancing Robert Smith State of you didn't correct and you said earlier that are overseas by unlimited mobile data limit is tomorrow I would like 237 million 269 million statutory directions and so there is that's another issue and so could be in my warm bed that's why yep. Number noise overseas cap you say we need another 100 $5000000 Proposition 39 is $60 per election in fact there are school districts that will do to prop 39 measures on the same election day and each one has their own $60 tax rate limit cic partners one it was interesting that you chose the example of Santa Clara School District chapters to be one of the  fastest appreciating real estate markets in the country definitely in California and as you gave the example to the audience before with a rising appreciation and values like that it drives down program cost at Vons for the tax paper  closer to home we've had a school district right next to us Inglewood who did the same thing now they're taking over basically being run by the state they built a lot of stuff can you share with us if you are aware what did they do that was different and how did it go wrong and in my second part of my question we're talking about the school but it doesn't operate on an island by itself with the school district is within the city and I'm also is Thomas this debt issuance correspond with any plans are city has for debt issuance and does the team packet Sports in terms of cost and risk for a risk ratings for a city okay  all just your first question in regards to Inglewood Unified School we do not work with Inglewood Unified School District list of School District bond measure in November 2012 can skip the small but they million dollars Sprint Spark 6% that's separate and apart from their finances General obligation bonds can only capital projects building new facilities renovating modernizing you cannot use General obligation Bond money for operational things like your benefits salaries programs as I understand Inglewood the situation it was the operational side of things that got them into a more tuition and resulted in state notwithstanding they're being in a state takeover their bond resoundingly past and I'm on the strength of their and your second question was how does  how does overlapping with the city sort of effect Culver City if I said this more of a political question but depending on what the say Culver City Unified School District went to the ballot a year from now what happens if Culver City Unified decides to put a utility tax or some other tax measure on the same community that could impact Culver City Unified on bond measure because your residents made me think while I'm I'm being overly taxed the sitting asking me for this you're asking me for that toxin that's worth it could negatively impact you if there's so many competing measures asking for dollars at the same time stupid person question is question though was does it if the USD have the fall somehow I'm not going does it affect the city's rating overall I think that wasn't a question who sells parcel taxes in Nexus on the side of this and a partial tuck it seems all of you are aware in a tax that can be basically be used for anything you could use it for operations you can just a silly you can use it for programs really the board will designate what the very slim and generally Parts the taxes are a fixed tax per parcel and that's the test whether you are a commercial industrial property you have to have a fixed partial tax so that could be $80 per parcel so Sony would pay an $80 Martha taxes you would pay an $80 party decorations of could be based on square footage per square foot is a fixed partial taxed as an option that some school district have done for their own part of the tax measures  you can build inflation so they could increase by CPI Factor there no maximum term of a parcel tax in fact there are school districts that have partial tax id never expire typically school districts generally have a parcel tax ranging from four to six years that's what you completely yes so it in clarifying the fixed tax rate square footage Sony's lot is a million square feet a much larger amount that if you had a lot that was 5000 square feet how do you say commercial pays $0.05 a square foot but residential pays $0.01 a square foot that will violate the uniform test fart parcel tax and there are school districts that have attempted to do that and they're their respective Superior Courts shut down that portion they're parcel tax where they hear their rate based on the type of problem  a partial taxes do allow exemptions on my general obligation bonds to their senior exemptions disability exemptions and if you own continuous parcel Parcels that are next to each other that's the exemption unlike the prop 39 General obligation Bond a partial tax does require two-thirds approval to pass this next light shows the school district that attempted a parcel tax in the November 2012 ballot 25 school districts and community colleges attempted six Tina those past so 64% were successful in their bond measure and as I mentioned before four districts attempted both and go I'm in the parcel tax and all those for only three of them succeeded I would be hopeful Murray School District Arcada Elder School District Little League City School District there in LA county there in Santa Fe springs near Norwalk West Contra Costa Unified School District during the debate and Westside Union Elementary School District in LA they passed General obligation Bond failed there Scotch bonnet peppers she knows the size of the parcel tax was crazy I don't know it now that's fine 4942 little lake is 48th and West Contra Costa Samsung S7 settings for Westside Union School District Sonoma Valley Nursery statistics per person babe I'm 75 it was the $96 per parcel 38 mm there are senior disability in continuous parcel and obviously pretty much everything throughout the district science technology art program materials teachers Library snow can you send parcel tax questions text Steve I was just going to ask for the percentages of couple of percent or something on the districts budget Ted ribbon 2% KittiesMama can't hear you. So I wondering if there's a study or just recently terms of election dates again baby I think that magic pens on the community so little Lake City School District they passed both of theirs in the high 70s so they're parcel tax and bond did not if we affect the other there other communities that we work with that has recently passage allegation Bond and subsequently failed a parcel tax because that particular community that's why we just passed $30 / $100,000 and now we're asks for $50 per parcel it's too much too soon show us what you can do with her General obligation maybe I'll pass the parcel tax once I've seen the results so not depend on the community and that's for an outside of our special to do what your inflatable travel cigar I don't think this question is really for you I just would like to say that there's a problem this conversation in that it would be very helpful to our conversations as we go forward to know exactly what he has done for our district because you know as we talked as the project was to sings about will quickly pass and what have you done I think it's very important that we should we have them but the money we've gathered so far and how things are going forward and what else we can do so this is actually critical to this conversation other ones so on Jim Harrison then the gentleman the back committing to the oversight committee I served on it for you I'm not serving on a current tell me that committee can you closely at the stated goal and limits provi do you like math science and  Sport about just say that you looked at I don't know if the current committees issues anymore Forex one of the things I want from that committee is not only did they if they spent the money if let's say there were seven items or eight that were into supposed to in the mud how many on so if you spent $4,000 $5,000 on instructors are teachers to make the class smaller how did the how do we have a quality answer in other words you spent that money what was your goal after you spent it we know they spent the money the point is how did it actually affect students and what is a qualitative answer not the fact that we spent at and had more teachers and smaller classes or whatever it is and I think the next we weren't we I think we're going to have that it's nice to know how much you spent but the point is how did that work with Student Success initiative and math or whatever so that's too far we need to deal with that support we know how many people voted age breakdown of the can we think that would be a very tedious 96 president was President Clinton's reelection in 2000 general election if I had best gas I would say somewhere around 15 to 20 like a 52 because the seniors given exemption I'm sure that's the critical thing some scenes that I don't know good question absorbs multiple attempts to get money for various things in the list of districts which have passed either Journal options obligation or information on What's That Community if they already have one I mean it was this on top of something that already exists because I think that's something that would be yes just make sure we're getting the right information on the list of school districts that has a general obligation bonds how many already had existing parcel tax or vice versa Claudia place at that as important as these numbers is what process did they go through and how did they do  a little bit I'm sorry in the back asthma Consultants you review the demographics time-consuming to make the recommendation for the dollar amount they were not the would we generate numbers based on your cephalization credit for the number I'd like to make a comment on the number crunchers can you ask a question Beverly Hills has passed and there if you could death information is current right now they have a parcel tax and it had a bomb they've done that so they are they have done that and they're still doing that so if you wanted to know look at one of our competing districts okay family is doing but they pants we qualify that a little bit Beverly.  Look at Emily's Casey did the Donkey Kong coordinates that's a very good question and I think that's one  further discussion but you know the Mike I think we already have 2.4 million back in if so purple questions to be at the number Grinch of guys that corresponds to that which is the amount from the compared with notches the total budget but with the change in the budget this year compared to last I got sort of address is not completely but hardly cases so let's go up so Jonathan Sarah some point you know might just run down for us you know where the budget is right now with prop 30 changes what 1.2 ask for budget what is projection go next 2-3 years and how can cars attacks goes away have an impeccable Sacramento even with what we got that we're still not where we were Sacramento has to put us back to where we were in that has to put his back to where we belong but at the same time yes it does feel the evil and I think Sarah next an N Fannin and Jody I'm yours and I work for UCLA and I can tell you that our budgets have been up and down several times per year the last several years was nobody knows what's Sacramento so I think I think that goes back to Patricia's point which I happen to agree with that we need to understand what we paid for and what the what the of that investment word for our students mind then we should consider continuing the investment because we really cannot rely on the state of can keep all of our agents District or maybe we want to use it for some other resources and that could be part of the reassessment as well but I am not at this point gyms  disability office in Long Beach today  I like to hang I know you can speak I know what the thing for the vodka is in the respect to go okay I'm being taxed currently $96 each year and it's getting 1.2 million per year for the district and everyone is six total Visa V you know what my ancestry with that equates to Wednesday in 75 million dollar Bond know what my annual expenditures are in my taxes versus how much money it's getting into the district driving sentences for comparison to the average homeowner and what stand for service one option in the other versus wedding Gibson District in LA county is Princess Ariel I just want to say that the governor is planned as he announced the best this past year was to bring us back up 2008 levels in 7 years okay and I'm 2008 we were not at overfunded school district okay schools and coin you're not at the top of the list for how much was being spent and all that so I can personally that the money from ee is important don't really want to take that cut but we have to look very carefully at how these two things will affect each other I just went I don't think yes no discussion right now because I think what was trying to get to at least what days said is if we're really looking at time together Master facilities plan I would seem those we think about practice prioritizations within that plan were also thinking about the smartest ways to find everything and I can get some shoe that everything gets Woodbine may not be the right assumptions so I think that there is one by funds education education is important mail something to parcel taxes as we renew it can be caught up to do different things I personally I get it it's like peanut stew still does something money in Money out to me is a Good Thing versus having to pay whatever it sent I didn't rest so what are we can use that fixing to use it so I just don't think we should be doing the yes no parcel tax we should figure out the salty clam priorities funding mechanisms to make most sense and the partial tax pay also be a funny Mexican perpetuity or we may decided we need this based on what might tell us for a budget claudiana Tom Dunkin Donuts what is the score and thinking about what is the right weight Shirley as we say you know the state isn't helping us but there are little bit more so I think they're what all Wednesday we can differentiate between commercial and residential tattoo development in the parcel tax be there in square footage developed on the lot for the amount of a lot that's covered by development first uncovered anybody ever tried to capture them in some way of our fault other than just sprayed out commercial versus take as long as it passes the illegals uniform test I suppose you could do a $0.01 per building square footage and that cops could capture development that could potentially be an option but that would certainly be something that legal we would like to vent through legal what's a good idea what would I find for this suggested that perhaps 16 Beverly Hills has done their personal tax and the bron James the mechanism by which here it would succeed in that they've done it and the raid because the parcel tax deals with our back with our children with our programs and all of that then you bond is just for construction do we need both and I don't think at this point we should exclude either that we need to look at the options on both and see what we can do with that on the next section am I right filled at Beverly Hills in completely different situation because they don't take money from the state that's correct can I have a question about how our community would be rated by Bond agencies do they look at I mean it's it's a tax so most people are going to pay it the only thing I can think that would impact the community and make one community be judged currently is in another and therefore end up with a higher interest rate would be if you have a higher rate of foreclosures in your community and then the average or whatever can you speak to how would we be seen by those who would be determining what are interest rate was federal government is a double A+ Western before so you're you're in the camp of double-a Raiders there are certain other school districts that are single a rated borrow  your credit card will also have an impact for school districts and determine what interest rate they might be able to does bode well get the district did pursue a ball as it would get pretty Leslie because my daughter sitting in his air That's not healthy and putting her books in lockers that are wet on the bottom and not working is an academic I think at the facilities needs car accident home okay thank you Leslie I mean that's a good point for Zara sticky cameras that statement what would I go ahead and give our financial stuff stirile thoughtful and I hope from gills presentation and also their presentation here is you saw a strategy and an inn Fantasia lot of the questions were coming up before want to be very thoughtful and inclusive in and not persuasive I mean our intent and you know we all can probably weekend from going to the Mike Reynolds School of Public responses we can certainly do that for you and why would we want to do here this room is filled with people that are representing the deeply cares about our kids Hammer school system and one another but they intend to be informed they expect us to do our job to engaged with floor options Alternatives into crib analyze the effectiveness and the impact of previous Investments absolutely positively about what we should do to do a much better job articulating our needs and demonstrating what they are and where they are on an even feeling that back more and doing the same thing as it relates to not only very mechanism for finding the current ones that it existed what decisions have been made and what's been the return on those Investments I heard that over and over again what's been the return on our investments I certainly Leslie's comments because she goes to all the whole child thing so you knew it was about and and not and not either or we can set the tyranny of war and it is I mean can we make whether it's in stuff for staff came up with that but if we have somebody needs that are getting in the way of the experience and child and that's weird to have a negative impact on their capacity to learn certainly considering certainly should be tied 2 teaching on bottom long as we have priorities about health and safety that's directly tied to learning as we have priorities and around can an technology that's about teaching them what it's about co-curricular facilities extracurricular facilities teaching living facilities that's all about learning in an impact the kids and that's the what should we want to continue to have so it is about method methodology in The Next Step so it's going to him one more time if I can kind of a briefly facilitate a conversation here above about next steps it's not questions and answers it is about next that's it maybe questions that we haven't answered yet or maybe we need to answer it another way couple of things that that you have Assurance of your commitments to this information from Gail and from our team Salvia online of a right away I start to explore some of the questions as it relates to past elections and and measure Tia Nene and what was not only the the approval rate that we break that down demographics can we demonstrate that from facilities and is your teeth also to partially what's been the impact when did we may be at a different place right now but what does that say when was that positive impact the kids so we will continue to do that one of the other things that we know that we need to do and that came up tonight how do we carry on the conversation sometimes it's it's hard to find a time to get everybody to me I don't know if you know that or not this is important work and if so how do we continue that work and engaged the community engage or students Engage The Board in a variety of different roles tips to make sure that when we have to make an important decision which we know won't be about everything but it needs to be about priorities and those things that we know her for the greater good for all of our kids that's going to take a process and monitored like to open it up to the boy about some of the questions observations topics that they want us to explore more not strategies methodology I also heard that Patricia mention that another's did too let's take a set the methodology of other environments as well in what was it that work so well to engage the community and rally that type of sports to do that as well he'll open up to the board well first off I thank you Dave for this together I think this was your body for thanks for the people coming out walk to to just started factual things that I would love to see the next time we meet I love the idea of having some update on what the money for he is the new score and that affect the tide would also love to have that 40 you know where that went and what that was used for I'd also love to have some information as we continue the conversation about parcel tax Pond Park Captain formation on districts that have used parcel taxes for facilities I'm guessing from my very very limited amount of research and most of it is for maintenance and not for building but I would love to have some information on those adapted what is been used for ETC cetera so that we can have that as a as a piece of the conversation and terms of sort of next steps I mean here's the bottom line as far as I'm concerned I think that the board at least people I heard I certainly agree with this episode of made a commitment that we want to get this done as quickly as possible as efficiently and effectively as possible and try to get on the as soon as you can and I am not single and I know what my call is think I'm not single way that we can do it if the only time we're meeting to discuss it is special meetings went on five of us a year seems like with such a hard time even find anything this morning all of us is very busy schedules and so I'm wondering if it makes sense for us to start device to work PC component parts a sort of split up work amongst the five of us and staff so you know I mean I see it to sort of like there's this play master plan components there's this our community engagement component in as a sort of setting up the election financing component and maybe this more than I thinking of and so we were too you know sort of working groups of food of you know I think it's two of us find time to meet turn working groups working to the staff and then every trees coming back until the 4th over doing I feel like maybe we can get done quicker and the other piece of that is online somewhere in here you're definitely making sure that we go through a timeline so we know we're meeting all of our deadlines and getting things done okay  I want to know the difference between Ed code and half  now it's on it says one thing about 8% limit on Vons and then can you call your limit so we're hearing 40 years  what's the difference why does it matter and what a we have to follow to stay within the legal great question so California school district currently condition bonds under tooth Ortiz the education code and the government the Education Code has a maximum financing term of 25 years and it has a maximum interest rate of 8% the gov code on the other hand does not have that requirement so if dark my code you can dishu bonds up to 40 years and their interest rate maximum is so that's currently once 81-82 comes online that's the legislation that's going to change school districts issue financing what they're going to do is they're going to import some of the cows that at home currently has the 8% and the 25 years they're going to impose house on Capital preciation bonds that are tissue under the government code current interest bonds and still be 40 years to 12% but generally because current interest bar and radar are lower than calves you don't you don't get close to 12% leased in this current interest rate environment but going forward the new government code will have the 25-year limitation on the 8% maximum interest rate in addition to the new requirement to two things a call Call of Duty on your bonds when you think of me refinance with lower interest rates and secondly the 421 repayment ratio that is resistance in either the current at code or the current gun code that 421 repayment ratio will find its way in to vote the crank seal am I to say I turned it on but evidently I did to say that I really really appreciate it you know how her back and forth is really interesting what you do more of this we should spit it out to the entire Community everyone I would like to say that as far as very concerned I think that we have legal man that across which I know that work in Sacramento so long and I would like to know cuz we have a big amount of money right how much is that is a clean and you ask my question how much is that legal mandate across the two really don't have a choice and regard what you have to pay and we need to know that number and I will be Woodland Adventures quite a number so I think the same you have this much money and then to find out really the cool things we have to do they're not painting a building there things that we have to do how much is that in this building at me and this budget so we can extrapolate it and but it is the other thing I want to say was that we are not in a deficit because we had fun we have our property funds well we actually get money from prop 30 but we didn't have to expend money that of think you would have had to do and we would have been in a deficit so the reason we're doing pretty good cuz we have an excellent person here but they're with Mike but the reason for doing pretty good is because we had the problem 90 of 35 and what I'd like to have is to see how the prep what time do I actually spent big that we were that we didn't give them but the dead to me would have had to pay we didn't have to pay your sign I'm saying so I think we need to clarify that and regards to our taxpayers we need to let them understand and I know I spoke with with her with her magician over here need to magician that spoken with them and they said that they would check that out and I would like to thank you for being here I think I'm truly great the more we hear one another we can talk face-to-face I think that's really great and I'm going to stop talking now I agree is it because you is you're hoping to move to have a bond on the June 4th 2014 is that why you are hoping to speed it up that your I'm done with today question is do we hire a consultant if we do when does that happen and then I'd like to suggest if we do that instead having one board member on the panel we have to board members on that handle if my could provide us with information regarding but the effects on the instructional program would be if you did not renew the person  diepio sahajanand so I can do that basic weed from cover lot of round here tonight I'm happy with the discussion and the questions I think that stuff some some homework might not right and that we can move forward hopefully very expeditiously not any more than communities and for the hills folks will get out and talk to your friends and ask them to take a look at the video of any questions to please email The District in the email the board but course we will just hold those questions today it so just say okay and that is dated or David Rose sister-in-law. Everybody healthiest David yes so at Farmer next week right deer in the neck status of food whatever you guys decide where you jump into something that keeps moving in the I think we have to try that type of conversation that's one of the things that my brought to our budget conversation this isn't an annual Endeavor where people wish we had tabs to find out what phase were talking about and we have to prove it that night it's it's budgeting and every single meeting here's an update here's transparency we need to integrate process methodology protocol here's some information that was acid another this meeting so having that is an ongoing regular update I would expect them  I really what's the dance of War by the administration by you and your staff I think that you probably will have a bond I was looking at it and doing this Devon, and I think you will have one in June I think you've done to work with you going to body work already it's strong possibility that you will have on call okay I'm going to John Georgia categories of a question to need the app I'd love to see the action items for each of those teams tight deadlines that are Association and that the deadline for voting on whether or not to blame this on the ballot not for the last 4 days what's the deadline but let there be an extra board meeting in there in case there needs to be some directions. I want to know I would assume some of those fundraising by the Bob maybe talk about the van and chew their is the racial tax it's June if it's going to be over it's got to happen at one of those right battles considerations there's fundraising to maybe a discussion around also fundraising for an overall election today we learn that I think that has to happen at the same time in fact the Laura had it had a great suggestion to how do we Empower teams that are already God in place that represent stakeholders to be able to me to tackle some of the things that we want them to to research it a little bit more and peel it back and how can we take a look at sea maybe have one pair of representation by sight on those teams have them divided responsibilities about you take parcel you take Mama's talk hypothetically and and let's not only review I did for us but because we're in a different place if we were to identify a d and investment because I think a common one that I've heard is if we make all of these Investments and and ship as it relates to standardization for a facilities what's going to be our maintenance and operation plan that goes along with that well that's where you might be able to marry two so I think that's a good for you Wayward Wind I have to do some of the work no figure on will be the pain gear S2 gear where they do the maintenance calendar at this is going to be done by deer in 2004 because we could possibly pass the parcel tax so two things that one is part of of of your question addresses the purpose of a master facilities one so you established that cycle for Ford maintenance part of the conversation if you had with Gil is that if we start to take a look at projects and new supplemental categories like HVAC that doesn't exist who places what are the cost of associated with that in order to sustain as well and so we've also talked about when you upgrade facilities and we've had maintenance and neglect how do you protect those Investments so I took Master facilities plan to dresses episode of parcel in the bond conversation  I apologize on the first one it's a big one and I apologize because it's a big one and it means it's a lot of work potentially but it's that we have such an opportunity at this point where we're looking at a long time Horizon we're looking at you know bonds that we're going to be borrowing for 25 years and one thing I didn't hear about about the inventory that was done of our needs of our Capital Improvement needs is I didn't hear the big picture questions I only heard that an assessment was done of existing facilities what needs to be done to bring them up to speed but I didn't hear question does that existing facility need to be there does it really need to be another building does you know are we going to have in that area twice turn on that in 25 years are we going to have half the enrollment in 25 years I didn't hear the integration of demographics so I just want to throw out the idea and I know this is a big one in baby requires is looking at things a little more fresh and this is only the first of my three things on my little list here but I want to make sure we're asking big questions good that we don't think in 20 years why didn't we do this when we had the opportunity so just you know keep that in mind okay the second one sequencing and scheduling of projects in addition to prioritizing projects the fact that somebody said you know I know if we could spend a hundred 5 million in X number of years full of course that's true look at the parking situation we're going through right now just with the projects that we're doing right now so I loved it it at one of the previous meetings when there was a demonstration in one of the financial presentations of how you sequence the bonds proceeds so that they come scattered over every few years we're going to need that because you just can't move that fast 2 Legit play it just won't work so that was my second item and my third item  is we've heard concerns from the community about spell appreciation bonds I personally have a concern about negotiated bonds vs bonds that are put up to bid my concern is that we if we're going to spend a certain amount of money we want to get more stuff for schools and pay less interest everybody wants that right so I think it would be terrific during the work stand in the next couple of months if the board could think about what Financial policies we want to follow as a district and say let's let's set up these policies and try to hear please policies as we go through this process because I think there are ways that we can do it that's really smart and we heard from our financial consultants that were a district has every opportunity to get the absolute best interest rate that's out there so let's do that that's our best outcome that's the end of my three things let me just before J-Stars address the first one apart of the first one because at our last meeting we approved the developer fees raised in them can we got a whole report on some  projected residential increases and so on so forth around the city and what that impact would be on so you should probably integrate that down with what we're doing here in terms of capital projects but we have at least a partial particular answer and then the internet carcity.com Los Angeles at least assessment tonight I assume this is true but I mean you hear that hundred sixty-five million dollar price Scott County disability schools so my question is I mean was it is at consideration from a physical standpoint they just tear something down and rebuild it as opposed to so I'm just that's just a curiosity, going there just off the top of your head a private the up in the Hawthorne area and that product alone is about 40 million or what its they're going to rebuild and just be commercial facility to Tiffany Bakery a picture of time based on the movie Victor talk text thanks man to other things I can do I know you're not trying to sell me anything tonight play the groundwork for the coming months I think it be helpful to know what exactly the driving forces are on on the variance interest rates on a bond I mean all those factors how good of a negotiator I'm sure we're talking about firing range for talking about credit rating what all the factors involved and then this could be answered right away to assessed values when there is a refinancing of a property that's only when exchanges hands okay well I'm sitting there any of the concert aboard space Lord based on those digital planets now I remember I just play just my first time on a Tuesday evening I'm fighting you to email my gosh I went home and I forgot to ask this questions and also for the audience out there please send in your questions you want to hear from everybody there's a lot of people in the room but certainly there's a lot more out there that could make it tonight thank you all and night

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