After 34 years of receiving a tax override, the Atascadero Unified School District will lose funds it has received via property tax. To continue receiving money to fund deferred maintenance and capital improvements, the district is asking voters to approve a bond measure.
To be approved, at least 55 percent of the voters would have to approve it in the November election. If approved, the district would be authorized to issue and sell bonds up to $117 million over 40 years.
The original funds were created through a ballot measure approved by district voters on Nov. 2, 1976. AUSD Assistant Superintendet of Business Services Jackie Martin said she does not know why it is called a tax override, but that is the term that is used by the school district and county.
If the bond were not to be approved, the school district would lose millions of dollars per year.For the complete article see the 09-03-2010 issue.
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