If you pay property taxes or rent within the Los Banos Unified School District, this applies to you!
Attn: LBUSD Residents - Vote NO on Measure C
Here’s why:
=> This $99M bond will ultimately cost $177M to repay.
=> LBUSD currently has over $94M in outstanding bond debt that is projected to cost $160M to repay.
=> LBUSD has had fewer students each year for the last 2 years – there is no overcrowding!
=> This bond could double the tax rate
Details:
=> LBUSD has $99,792,896 remaining in current bond debt not including interest and fees (ref: audit, pg. 19 of 125).
=> Repayment for remaining bond debt will cost LBUSD property owners $164,964,686 (ref: audit, p. 40 of 125).
=> LBUSD has $64,763,099 ($31,801,617 + $32,961,482) on hand for facilities (ref: audit, pg. 20 of 125)
=> LBUSD forecasted 8 of 9 projects to be done by 2026 including a $32M New TK Center (ref: audit, pg. 111 of 125)
=> Capital / facilities Funds 25 & 35 are used to hold developer fees and related capital receipts (ref: audit, p. 24 of 125).
=> The combined 2025 balance in Fund 25 & 35 was $66,607,597 ($31,864,302 + $34,743,295) (ref: audit, p. 36 of 125). These funds exist to offset growth – mitigate the demand for expensive bonds.
=> While the Full Text, page 1 states: “The District needs to relieve severe overcrowding by constructing a new elementary school.”, LBUSD’s own reporting to the California Department of Education (CDE), states LBUSD has 10,910 students which is less than their 2 previous years. In fact, the LBUSD average for the last 10 years is 10,962 - which means 2026 enrollment is below its 10-year average. (ref: CA DoE Quest reporting)
=> Measure C would authorize another $99,000,000 in bond sales. The district estimates the bond will cost property owners about $177,966,209 in principal + interest to repay (ref: Measure C Tax Rate Statement).
=> Measure C bond debt would be collected on top of the current 2018 bond debt that still being repaid
