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Dixon Unified hires ISEM Advisors to explore a local school bond; presentation outlines sizing options and 2026 calendar
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Summary
The board approved a contract with ISEM Advisors to conduct outreach, polling and financial modeling to assess community appetite for a potential local bond; ISEM presented assessed-valuation trends and preliminary bond-size models, noting statutory limits and Prop 39 tax-rate guidance.
The Dixon Unified School District board voted to contract with ISEM Advisors to perform exploratory work on a potential local bond measure, including community polling and bond-sizing models, after the districts facilities advisory group recommended the firm.
Mikiko Sato of ISEM Advisors told the board the firm specializes in municipal advisory and bond-election services for California K14 districts. ISEM presented historical assessed-valuation trends for the district, noting average growth over a 20-year span and some periods of market downturn. Sato said statutory bonding capacity and Prop 39 tax-rate guidance are key inputs in sizing potential bond measures.
Why it matters: a successful local bond would supply local match dollars that can be leveraged for state facility funding and would address major facility repairs identified in the districts master plan. The exploratory contract does not obligate the district to place a measure on the ballot; it authorizes polling, community outreach and financial modeling to inform a potential future decision.
What ISEM presented Sato summarized: district assessed valuation has averaged roughly 5% annual growth over 20 years, with variability in downturn years; the districts current statutory bonding capacity was presented (district figure cited in presentation). Using a Prop 39 model and current assessed valuation, ISEM estimated an example single-transaction bond capacity around $81 million at a $60 per $100,000 tax-rate assumption, with alternative lower tax-rate scenarios also possible.
Timeline and next steps ISEM recommended starting community exploration now to pursue either a June or November 2026 election window. The board approved the contract to begin telephone or online polling, community outreach and development of possible bond program scenarios. Staff said the facilities advisory group will continue public-facing planning and will bring recommendations to the board as polling results and modeling become available.
Board questions and public comment Board members asked about the districts prior bond-history (two successful measures, one unsuccessful in 2010 during the market downturn) and how local bond dollars could be leveraged for state matching funds. A public commenter urged strict adherence to Prop 39 requirements including forming a CitizensBond Oversight Committee (CBOC) and providing a project list and costs prior to any election.
The board approved the ISEM contract unanimously and directed staff to begin the exploratory process and to return with community-polling results and recommended program lists if a measure becomes viable.
