Manteca Unified taxpayers by the end of 2051 will have paid $97.6 million worth of interest as well as $225 million in principal on bonds voters approved in 2004 and 2014.
Bond payback information is included in an extensive package the board will consider when they meet tonight at 7 o’clock to authorize the sale of the remaining $36 million worth of bonds that is part of the $159 million Measure G voters approved in 2014.
The board is meeting at the district office without the public being allowed to attend after Gov. Gavin Newsom suspended aspects of the Brown Act that assured public access. The suspension is in place as long as the COVID-19 pandemic emergency declaration is in place.
Members of the public may submit public comments on listed agenda items or non-agenda matters as long as they are no more than 250 words. The submission will be read into the record as part of the board meeting minutes.
The comments must be submitted by 4 p.m. today by emailing musdschoolboard@msud.net.
Despite spending close to $30 million five years ago to launch the Going Digital initiative that placed a digital device in the hands of every one of the 25,000 school district’s students from kindergarten through 12th grade, the district does not have livestreaming via its website of its public meetings as do many cities such as Manteca as well as agencies such as the South San Joaquin Irrigation District.
As a result, the only way the public can hear what happened at the meeting is through an audio recording that will be posted within 24 hours. That does not allow the public to have access to any visuals such as graphs and charts that may be presented during the meeting.
The SSJID also allows real-time public comments by phone during the pandemic emergency. The City of Manteca is working to add such a feature in the coming weeks.
$36 million bond sale
interested expected
to be at 3.6 percent
The last $36 million of bonds from the Measure G authorization is expected to command an interest rate of 3.6 percent.
The money — just like the rest of the bond — will go toward existing classrooms and facilities to address health and safety issues ranging from roof and asphalt replacement to modernization projects for everything from electrical systems to restrooms.
The bulk of Measure M, the $66 million bond voters approved in 2004, went primarily toward matching other funds for new construction such as Lathrop High as well as an elementary campus in Lathrop.
The district’s assessed property valuation is currently at $15.6 billion or more than double the $7.6 billion it was at in 2004 when voters blessed the $66 million bond. It is up by close to a third more than the $11.7 billion it was at when Measure G passed in 2014.
The district still has $427 million in maintenance and modernization needs on its 32 campuses that need to be addressed even after the balance of the 2014 bond is spent.
Voters on March 3 rejected a $260 million bond to further whittle down that list.
What $36 million in
bonds going to market
will help pay for
The bonds being sold will help tackle projects at several schools.
McParland has a needs estimate of $13 million in the Master Facilities Plan. Of that amount, $8.5 million will be spent from Measure G. That leaves McParland with $4.5 million in needed projects left unfunded.
The items being tackled at McParland School are video surveillance, fire alarms, new bell and intercom system, lighting upgrades, flooring, plumbing, fencing changes, replacing playground, asphalt replacement, upgrade heating, air and ventilation, landscaping and field improvements, remove portables, and a new multi-use room.
New Haven has a needs estimate of $12.6 million in the Master Facilities Plan. Of that, $6.1 million will be spent from Measure G and another $150,000 from IT for qualifying projects. That leaves New Haven with $5.9 million in needed projects left unfunded.
New Haven work includes asphalt replacement, fire alarms and suppression system, flood control renovate kinder bathrooms, security door hardware, replacing playgrounds, kindergarten classroom, and construction of multi-use room and restroom building.
As the oldest school in the district, French Camp has a needs estimate of $23.1 million in the Master Facilities Plan. Only $7 million is funded to be spent from Measure G and another $900,000 from Fund 35 and IT for qualifying projects. That leaves French Camp with a major $15.85 million in needed projects left unfunded.
French Camp projects include video surveillance, flooring, plumbing, fencing removal, replacing portables, energy upgrades, HVAC, field improvement, parking lot expansion, portable replacement, new classroom construction, and a shade structure.
The district’s second phase work at Nile Garden, Manteca High, and East Union High is now underway. The bonds for those Measure G projects — $63 million — were sold in 2017. Completed Measure G projects are Lathrop Elementary, Golden West, Lincoln, Neil Hafley, Sequoia, and Shasta. Work at the schools where projects have been completed were paid for with the initial $60 million sold of the $159 million bond.
There is still unfunded work at all of those schools as well.
To contact Dennis Wyatt, email dwyatt@mantecabulltin.com
