PROP. BB OVERSIGHT PANEL WEIGHS FUNDING OPTIONS FOR BELMONT CENTER.
Byline: Sharline Chiang Daily News Staff Writer
The independent committee overseeing $2.4 billion in school improvement bonds looked at options for financing the controversial downtown Belmont High School Belmont High School may refer to:
At its first official meeting, the Blue Ribbon blue ribbon
denotes highest honor. [Western Folklore: Brewer Dictionary, 127]
See : Prize Oversight Committee heard from the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Unified School District's financial officer Henry Jones, who said using Proposition BB money would cost less than other kinds of financing, including the issuance of certificates of participation.
But oversight members said they would have to weigh the impact of using Proposition BB funds on public confidence.
Steve Soboroff Steve Soboroff (born August 31, 1948) is a real estate developer and president of Playa Vista. Mr. Soboroff is the Chairperson of the Leavey Center for the Study of Los Angeles at Loyola Marymount University. , who was appointed chairman of the 11-member oversight committee and who is also a senior adviser to Mayor Richard Riordan Richard J. Riordan (born May 1, 1930) is a Republican politician from California, U.S. who served as the California Secretary of Education from 2003–2005 and as Mayor of Los Angeles from 1993–2001. Riordan ran for Governor of California unsuccessfully in 2002. , said that ultimately, ``All we want to do is have voters say they're glad they voted for Prop. BB.''
Taxpayers were outraged last week when they learned that school repair bond money would be used to help pay for the $87 million Belmont project, saying the district failed to inform the voters of its plan.
The board approved construction of the high school Monday but agreed to ask the committee's opinion whether Proposition BB funds should be used for the project.
David Barulich, representing the Howard Jarvis Taxpayers Association Howard Jarvis Taxpayers Association helped sponsor Proposition 13, the property tax-cutting initiative in California in 1978 which slashed property taxes by fifty-seven percent and initiated a national tax revolt. It was founded by California republican Howard Jarvis. , said the board has left the oversight committee in a bind by not asking its opinion before it approved the high school.
``You're putting us in a bad position by saying, well, do you want the district to spend this much money, or save this much money? and I hope that doesn't happen again,'' he said.
In other action Thursday, Tim Lyle, deputy city controller, was appointed vice chairman.
PHOTO Steve Soboroff
Seeks to please voters