As a 27-year resident of Templeton, I feel compelled to provide some additional input regarding ballot Measure D-24, which is asking residents to authorize $53.2 million in new bonds to finance a list of “specific school facilities projects,” a list of which is provided for in the voter information guide. These new general obligation bonds will be financed by imposing a new property tax on every property owner within the Templeton Unified School District (TUSD) 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 TUSD 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 2012 bond had a face value of $35 million when approved, of which the principal amount owed is currently $29.9 million, according to the SLO County Auditor-Controller’s Office. According to the Auditor-Controller’s website, the “scheduled final payment date (subject to change)” for the 2012 bond is August of 2046.
Therefore, TUSD Measure D-24 asks for property owners in Templeton to now be obligated to pay for $83.1 million in total principal 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.
Russell Spotten
Templeton
This article appears in Oct 17-27, 2024.