Templeton School District measure targets too much money, vote no

October 19, 2024

OPINION by RUSSELL SPOTTEN

As a resident of Templeton for 27 years, I feel compelled to provide additional input on the Templeton Unified School District ballot measure D-24, which will ask residents to approve $53.2 in new bonds, to fund a list of “specific school facilities.” with the list contained in the Voter Information Guide.

These new general obligation bonds will be funded by imposing a new property tax of $60 per $100,000 of assessed value on each property owner within the boundaries of the Templeton Unified School District. For example, a property with an assessed value of $600,000 must pay an additional property tax of $360 per year.

On the surface, it doesn’t seem like much to upgrade and modernize the school district’s facilities. However, it is important to note that Templeton property owners are already paying for a similar bond measure voted for in 2012. The Templeton 2012 General Obligation Bond had a face value of $35 million when approved, of which the principal amount owed is currently $29.9 million. According to SLO County’s website, the “scheduled final payment date (subject to change)” for the 2012 bond is August 2046.

As a result, Measure D-24 requires property owners in Templeton to now be required to pay the entire bond debt of $83.1 million ($29.9 million prior and $53.2 million new) for the ” “Upgrade and modernization” of equipment, classrooms, etc.

For a small town whose population was 8,386 in 2023, this seems like irresponsible borrowing. For someone who is retired and living mostly on Social Security and a little savings, I know how I’m going to vote.