Nearly $50 million of Measure M funds have been used so far to fund 22 different projects that have been completed.

That’s according to the latest report on the general obligation bonds of $66 million issued through the voter-approved Measure M of 2004. The total net proceeds from this funding source is $72 million.

More than $35 million of the total bond proceeds went to four Lathrop projects:

• the building of Lathrop High School which was completed in 2008 at a cost of $23,261,426;

• the construction of Mossdale Elementary School in west Lathrop to the tune of $10,401,228;

• completion of the Lathrop High School joint-use gymnasium for $1,100,000; and,

• the construction of a new Lathrop Elementary School gym for $684,684.

Seven of the 22 completed projects to date used more than a million dollars of Measure M funds. Along with the two Lathrop High projects and Mossdale School, the others were: the Stella Brockman Annex at $3,418,852; Shasta School’s joint-use gym at $1,380,578; East Union High’s gym and shops at $1,174,360; and, East Union’s swimming pool at $1,024,192.

Other schools that benefited from the Measure M funds are New Haven Elementary (library and six classrooms), Weston Ranch High (joint-use library), Stella Brockman (joint-use gym), Nile Garden (library and classroom), Manteca High (field house), East Union (boys locker room, phase one), French Camp School (library and classroom), New Haven (parking lot), Lincoln School (HVAC multi-purpose room), Sierra High (faculty conversion), East Union (boys locker room, phase two), East Union (band room conversion), Sequoia Elementary (multi-purpose room), and American Disability improvements.

Eight projects that remain to be completed and are also benefiting from the Measure M funds are all pegged at more than a million dollars with the exception of the Lathrop High School Career Tech Education project which received $840,128 from the voter-approved funds. This project has been completed but is considered as open because it is still awaiting auditing.

Those that are getting the lion’s share of the nearly $24 million in “open projects” are the French Camp School joint-use gym and parking lot at $6,049,967; and the four future school sites that are on hold:

• Allen School in west Lathrop at $5,617,872;

• South Manteca future high school site at $3,700,000;

• Tesoro subdivision future school site on Spreckels Drive at $2,849,683; and,

• Union Ranch school site on North Union Road at $1,715,000.

The proposed annex school sites at the eight-acre Tesoro and nine-acre Union Ranch are currently involved in a negotiation between Manteca Unified and the developers for an acre-to-acre land swap. The school district deems that a better way to address future growth is to have a 17-acre site for a larger school rather two annex schools. Negotiations for the land exchange are still continuing.

Total proceeds from the Measure M general obligation bonds is $72 million which includes refunding proceeds in 2005 of $4 million and interest proceeds at $2 million.

Remaining Measure M funds that can be used for approved projects total $611,380.

Under the provisions of the voter-approved Measure M, net proceeds must be used for new elementary, middle and high schools as well as athletic facilities, libraries and other projects intended to relieve student overcrowding. The money also can be used to repair and modernize existing school facilities so as to promote student health and safety.

The passage of Measure M also specified that an independent citizens’ oversight committee be appointed to make sure funds derived from bond sales authorized by Measure M are used only for purposes that are specified in the measure.