B is for ‘bad idea’

Two days ago, the Orange County Treasurer’s office, headed by county savior John Moorlach, gave the Measure F bond a grade of B.

That grade is not the same as a B grade in algebra. In bond-speak, a B is a low grade.

The fact is, you have to work hard to get a bond rating this low.

The B grade from Moorlach’s office was influenced by the absence of a list of specific projects per school with the specific costs.

The absence of this list of expenses drew a sharp rebuke from the treasurer.

“The bond measure’s use of proceeds is intentionally less specific,” Moorlach wrote.

The absence of a detailed list of improvements and costs means that if you vote yes on the bond Tuesday, you will be giving a blank check to a tax-and-spend school board that has mismanaged the $163 million you gave them five years ago.

Moorlach’s office also took issue with the broken promise made by your school board. Five years ago, your school board promised that it would fund an endowment that would help prevent taxes such as the one you are now being asked to extend. But the board has saved very little money -- $559,460 to be exact.

But the treasurer also noted how the bond is going to place an even greater burden on ever keeping that promise: “With the issuance of the proposed bonds, over and above the original $110 million [from Measure A five years ago], the target for the Endowment Fund balance increases by the amount of the new debt.” And: There “is concern as to the viability of the District meeting this future stewardship goal.”

Moorlach expressed concern about the Measure F campaign accepting money from people and companies who have profited from Measure A and who may profit from Measure F.

From the treasurer’s analysis: “When reviewing the finance disclosure statements, one observes a trend that causes some concern. Of the 98 individual donations, 52 are connected to the school district as a direct beneficiary, either as an employee or recipient of a contract.”

Despite the half-truths you have been reading in the pretty brochures, your taxes will go up if you vote yes on Measure F. The $282 million has to come from somewhere, and it is coming from an increase in your taxes. This money is not free.

Measure F does not promise that anything will be built at a reasonable price.

Here’s the exact language from the bond: “The final cost of each project will be determined as plans are finalized, construction bids are awarded, and projects are completed.”

The translation is: “We haven’t done the homework to determine just how much all this is going to cost. Just give us the money and maybe later we’ll tell you what you bought.”

Measure F does not guarantee that any of the work will ever be done, including the sports facilities in Costa Mesa.

Here’s the bond language: “Inclusion of a project on the bond project list is not a guarantee that the project will be completed.”

Measure F is neither a guarantee of better schools nor better student performance.

Measure F should be voted down on Tuesday and resubmitted when:

1. There is a detailed list of what is going to be done at each school, how much it will cost and approximately when it will be completed.

2. Taxpayers are being told the whole truth on a regular basis.

3. The school board has demonstrated that it has earned the right to tax you. A good first step would be to present a plan to fund the endowment it promised five years ago.

This is not a tough list.

You have a choice Tuesday: You can hold your nose up and vote yes on Measure F, or you can hold your head up and vote no.

When you vote no Tuesday, don’t let anyone make you feel guilty. Don’t let anyone make you feel anti-school, anti-teacher, anti-education, anti-kids or even anti-tax.

When you vote no Tuesday, you will be voting to restore accountability in government.

Finally, when you vote no Tuesday, you will move a giant step closer to providing an even better future for our children through a new, better bond that replaces the blank check in this one.

* STEVE SMITH is a Costa Mesa resident and a freelance writer. Readers may leave a message for him on the Daily Pilot hotline at (714) 966-4664 or send story ideas to [email protected].

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