About Measure A
WHAT IS MEASURE A?
In March 2002 voters in the Butte-Glenn Community College District approved Measure A, an $84.9 million dollar general obligation bond to construct, repair, and equip classrooms, libraries, science/computer labs and facilities; upgrade energy conservation, lighting, electrical, ventilation, and plumbing systems.
QUICK FACTS
Voter Approval
Measure A was approved March 5, 2002, by 64.10% of the voters in Butte County and by approximately 59.19% of voters in Glenn County.
How much?
Amount of general obligation bonds approved - $84,900,000
Sale of Bonds
Series A - June 2002 - $30,000,000
- Bonds sold at an average interest rate of 4.95%
- Bond Ratings: Moody’s: A1
Series B - July 2005 - $36,998,634
- Bonds sold at an average interest rate of 4.95%
- Bond Ratings: Moody’s: A1; S&P A+
Series C – May 2009 - $17,900,000
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Bonds sold at an average interest rate of 5.00%
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Bond Ratings: Moody's: A1; S&P AA-
Investment of Bond Proceeds
The bond proceeds are currently invested in the State’s Local Agency Investment Fund (LAIF).
Costs
Tax rate is based on average assessed value, not market value. The rate is the same for both Butte and Glenn Counties.
- Legal tax rate limit per $100,000 of assessed value - $25
- Estimated tax rate per $100,000 of assessed value - $20.88
- Actual Property Tax Rate per $100,000 of assessed value
| 2002-03 | $18.81 |
| 2003-04 | $17.11 |
| 2004-05 | $16.00 |
| 2005-06 A | $5.11 |
| 2005-06 B | $15.77 |
| 2006-07 A | $12.85 |
| 2006-07 B | $8.03 |
What is it for?
Renovations and repairs of deteriorating, outdated facilities
Upgrade the Fire/Police Training Center
Learning Resource Center
Energy Efficient Heating and Air Conditioning for various existing facilities
Rewire and upgrade systems to accommodate computers and internet access
Health/Safety improvements
Build Instruction Arts Facility
Build Student and General Services Facility
Build Chico Center
Citizens’ Oversight Committee
The governing board has established a Citizens’ Oversight Committee to ensure proper spending of bond proceeds.
