The Fullerton Union High School and the Fullerton Elementary School District have placed two massive bonds on the March 3, 2020 ballot. This was done at the last minute and with little fanfare so that opponents wouldn’t submit opposing ballot statement or be able to mount much of a campaign.
This is the sneaky type of behavior that is associated with people who know they are pulling something over on you. In this case it’s a form of property tax. And the implications are huge. $500,000,000 in principal obligation, another $500,000,000 in interest payments.
Make no mistake about it folks, every time your school district gets 55% of the voters to approve one of their bonds it shackles you to debt – debt obligation that shows up on your property tax bill until the debt is paid off. The debt will last for decades, just like your mortage.
It used to be pretty hard to pass one of these bonds until our legislature, at the behest of schools districts and teacher unions lowered the approval threshold from 67% to 55% – the level that they knew could be persuaded to vote “yes” for the sake of the children.
And over the years bond ballot language has become fuzzier and fuzzier, and the so-called “oversight committees” process more and more of a transparent sham.