*Under Measure C Yuba Community College District is asking for authority to issue $228.4 million in bonds. We are currently paying on four bonds:
Series A - $29,504,047 - Ends 8/1/2031 - 11 years remaining
Series B - $65,492,278 - Ends 8/1/2046 - 26 years remaining
Series C - $34,935,795 - Ends 8/1/2050 - 30 years remaining
Series D - $26,500,000 - Ends 8/1/2039 - 19 years remaining
- *In addition, the College District issued $33,565,000 in new bonds on October 16, 2019 under Measure Q passed by the voters in 2016. You will start to see this on your property taxes for 2020 and it will continue for many years.
- The district is paying $310,000 a year in rent for an administration building on Plumas Street in Yuba City. The administration offices should be located on the Yuba College campus where they were located for many years!
- The district is paying its top four administrators a total of just under $1 million. Nearly 20 employees are making $200,000 or more, 75 receive $150,000 a year and one hundred eighty-six make more than $100,000 a year.
- The district has a pension debt of over $52 million and an unfunded retiree healthcare debt of $48 million – which continue to rise causing a hole in the district budget.
- *The 31-item project list for Measure C, is extremely general in nature citing such things as “heating, ventilation and cooling systems, irrigation piping systems, maintenance issues, electrical systems and wiring, automotive, plumbing, sewer and drainage systems, decaying walls, old ceiling tiles and flooring, leaky roofs” and many others which should be taken care of by routine maintenance. The project list is very similar to the list provided for Measure Q approved by the voters in 2016.
- *Measure C will cost property owners $23 to $25 per 100,000 dollars of assessed valuation. Rents and costs for goods and services will go up to cover the increased tax.
- *Vote No on C. Don’t put more debt on our citizens, children and grandchildren!
Yuba City, Ca