Templeton school district measure seeks too much money, vote no

October 19, 2024

OPINION by RUSSELL SPOTTEN

As a 27-year resident of Templeton, I feel compelled to provide some additional input regarding Templeton Unified School District Ballot Measure D-24, which is asking residents to authorize $53.2 in new bonds to finance a list of “specific school facilities projects,” with the list included in the voter information guide.

These new general obligation bonds will be financed by imposing a new property tax to every property owner within the Templeton Unified School District boundaries at the rate of $60 per $100,000 in assessed value. For example, a property with an assessed valued of $600,000 will be obligated to pay an additional property tax of $360 per year.

On the surface, this does not seem like too much to pay in order to upgrade and modernize the school district’s facilities. That said, it is important to note that Templeton property owners are already paying for a similar bond measure that was voted for in 2012. The Templeton 2012 General Obligation Bond had a face value of $35 million when approved, of which the the principle amount owed is currently $29.9 million. According to the SLO County web site, the “scheduled final payment date (subject to change)” for the 2012 bond is Aug. 2046.

Therefore, Measure D-24 asks for property owners in Templeton to now be obligated to pay for $83.1 million in total bond debt, ($29.9 million previous and $53.2 million new), for “upgrading and modernizing” equipment, classrooms, etc.).

For a small town, whose population in 2023 was listed at 8,386, this seems like an irresponsible amount of money to borrow. For someone who is retired and living mostly on Social Security and a little savings, I know how I will plan to vote.