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.

The Butte-Glenn Community College District is very appreciative for the support the voters provided to modernize our aging facilities, as well as, construction of new facilities.

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

• Refinancing - February 2012 - $23,800,000
• Savings to Taxpayers = $5,600,000

 

Series B - July 2005 - $36,998,634

• Refinancing - February 2015 - $30,725,000
• Savings to Taxpayers = $7,000,000

 

Series C – May 2009 - $17,900,000

• Bonds sold at an average interest rate of 5.00%
• 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. The annual tax rate will be adjusted based on assessed values in both counties and the debt service schedule.

• Current tax rate per $100,000 of assessed value - $22.88
• Legal tax rate limit per $100,000 of assessed value - $25.00