Measure O 11/03/26

Impartial analysis by County Counsel of Measure O

REED UNION SCHOOL DISTRICT
MEASURE O

This Measure was placed on the ballot by the Board of Trustees of the Reed Union School District.

Pursuant to Article XIIIA (1)(b)(3) of the California Constitution, if this measure is approved by 55% of the votes cast, the Reed Union School District will be authorized to incur bonded indebtedness of up to one hundred fifteen million dollars ($115,000,000) with an interest rate not to exceed the limit set by law.

Money raised by bond sales may only be used for the purposes and projects stated in the bond Project List set forth in Measure O. These purposes and projects include improvement and maintenance of school infrastructure such as bathrooms, plumbing, roofs, fire and earthquake safety, as well as mold and asbestos removal. As required by law, Measure O prohibits using bond proceeds for teacher and administrator salaries or other operating expenses.

The District estimates the average projected tax rate necessary to fund the bonds will be $26.63 per $100,000 of assessed value of property while the bonds are outstanding. This estimate is a projection, and could go up or down, depending on a number of factors including the timing and amount of bond sales, as well as changes in assessed property values in the District. The District estimates the annual debt service (including the principal and interest) will be approximately $6,200,000.

The interest rates on bonds must not exceed the limit of 12% and the bonds must mature within 40 years, as set by state law. The actual interest rates at which the bonds are sold will depend on the bond market at the time of each sale.

The Measure requires annual independent financial audits and spending review by an independent citizens’ oversight committee.

Dated: 8/24/26

s/BRIAN E. WASHINGTON
County Counsel

Tax rate statement of Measure O

An election will be held in the Reed Union School District (the “District”) on November 3, 2026, to authorize the sale of up to $115,000,000 in bonds of the District for the specific school facilities projects listed in the Bond Project List established by the District, as described in the proposition. If the bonds are authorized and a State bonding capacity waiver is received, the District expects to sell the bonds in two or more series. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property in the District. The following information is provided in compliance with Sections 9400-9404 of the Elections Code of the State of California.

1. The best estimate from official sources of the average annual tax rate that would be required to be levied to fund that bond issue over the entire duration of the bond debt service, based on assessed valuations available at the time of the election or a projection based on experience within the same jurisdiction, or other demonstrable factors is $26.63 per $100,000 of assessed valuation) of all property to be taxed. The best estimate of the final fiscal year in which the tax is anticipated to be collected is 2060-61.
2. The best estimate from official sources of the highest tax rate that would be required to be levied to fund that bond issue, and an estimate of the year in which that rate will apply, based on assessed valuations available at the time of the election or a projection based on experience within the same jurisdiction, or other demonstrable factors is $30 per $100,000 of assessed valuation) of all property to be taxed. The best estimate of the year in which the highest tax rate will apply is anticipated to be 2027-28.
3. The best estimate from official sources of the total debt service, including the principal and interest, that would be required to be repaid if all the bonds are issued and sold is $213,000,000.
4. Voters should note that such estimated tax rates are specific to the repayment of bonds issued under this authorization and are and will be in addition to tax rates levied in connection with other bond authorizations approved or to be approved by local voters for the District or for any other overlapping public agency.

Voters should note that estimated tax rate is based on the ASSESSED VALUE of taxable property on Marin County’s official tax rolls, not on the property’s market value. Property owners should consult their own property tax bills to determine their property’s assessed value and any applicable tax exemptions.

Attention of all voters is directed to the fact that the foregoing information is based upon the District’s projections and estimates only, which are not binding upon the District. The actual tax rates and the years in which they will apply may vary from those presently estimated, due to variations from these estimates in the timing of bond sales, the amount of bonds sold and market interest rates at the time of each sale, and actual assessed valuations over the term of repayment of the bonds. The dates of sale and the amount of bonds sold at any given time will be determined by the District based on need for construction funds and other factors. The actual interest rates at which the bonds will be sold will depend on the bond market at the time of each sale. Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined by the Marin County Assessor in the annual assessment and the equalization process.

Dated: June 8, 2026

s/: Dr. Kimberly McGrath
Superintendent, Reed Union School District

Argument in favor of Measure O

Our kids all grow up together. Pre-K to eighth grade, every child in Reed Union School District attends the same three schools: Reed, Bel Aire, and Del Mar. They're outstanding and have been recognized as California Distinguished Schools and a National School to Watch. RUSD has amazing educators who work hard to inspire and prepare our children, but the buildings and infrastructure are deteriorating and need our help.

From the street, our schools look fine. It's inside where the problems are. Our schools are old. The average age is 68 years, and Reed School, our oldest, was first built in 1954! Safety, technology, and educational standards have changed a lot since then. Roofs leak. Pipes and wiring are wearing out. Portables have developed mold, and a few have been closed because they simply aren't safe for kids anymore. Many of our youngest students are learning in those dilapidated portables.

If passed, Measure O would provide critical funding to make facility improvements at Reed, Bel Aire, and Del Mar Schools including: 

Repairing or replacing leaky roofs 

Making fire and earthquake safety improvements and clearing out mold and hazardous materials

Upgrading inadequate electrical and HVAC systems

Replacing worn-out portables with permanent classrooms built to today's safety standards

Updating science, art, music, and hands-on learning rooms Measure O makes financial sense and protects taxpayers.

By law, spending must be reviewed and annually audited by an independent citizens' oversight committee.

All bond funds must be spent locally and cannot be taken by the State.

Funds are required to be spent only on schools, not for administrator or teacher salaries.

Excellent schools and great teachers are fundamental to our community, and keeping our classrooms safe and modern is how we hold onto both. These are our children, and these are their schools.

Please join us and vote Yes on O.

SHELBY TSAI
President, Board of Trustees, Reed Union School District

JESSICA ETCHEVERS
President, Parent Teacher Association, Reed Union School District

A.J. BRADY

JANE COOPER

JACK RYAN

Argument against Measure O

No argument against Measure O was filed.