Citizens Bond Oversight Committee
The Santa Monica-Malibu Unified School District was successful at the election conducted on November 7, 2006 in obtaining authorization from the District’s voters to issue up to $268,000,000 aggregate principal amount of the District’s general obligation bonds (Measure BB). The District was once again successful with 67.73% of the votes at the election conducted on November 6, 2012 in obtaining authorization from the District’s voter to issue up to $385,000,000 aggregate principal amount of the District’s general obligation bonds (Measure ES). An election was held in the Santa Monica-Malibu Unified School District on November 6, 2018, for the issuance and sale of general obligation bonds of the District for capital facilities improvement purposes in the maximum amount of $485,000,000 for SFID No. 1-Santa Monica schools (Measure SMS) and $35,000,000 for SFID No. 2-Malibu schools (Measure M). The election was conducted under Proposition 39, being chaptered as the Strict Accountability in Local School Construction Bonds Act of 2000. Pursuant to Section 15278 of the Education Code, the District is obligated to establish a Committee in order to satisfy the accountability requirements of Prop 39. The Board of Education of the Santa Monica-Malibu Unified School District established the Citizens’ Bond Oversight Committee in December 2006 in compliance with this requirement.
The duties of the Committee include:
- Informing the public concerning expenditure of bond proceeds.
- Reviewing expenditure reports produced by the District to ensure that (a) bond proceeds are being expended only for the purposes set forth in the Measure BB Measure ES, Measure SMS and/or Measure M; and (b) no bond proceeds were used for any teacher or administrative salaries or other operating expenses.
- Providing an annual report to the Board that includes a statement indicating whether the District is in compliance with the requirements of Article XIIIA, Section 1(b)(3) of the California Constitutions and a summary of the Committee’s proceeding and activities for the preceding year.
The membership of the Committee includes up to seven (7) members selected by the Board using the following criteria:
- One member shall be the parent or guardian of a child enrolled in the District
- One member shall be both a parent or guardian of a child enrolled in the District and active in a parent-teacher organization
- One member active in a business organization representing the business community located in the District
- One member shall be active in a senior citizens’ organization
- One member shall be active in a bona-fide taxpayers association
- Two members of the community at-large.