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Citizens Bond Oversight Committee says Measure E spending aligns with project list; Series A sale projected at $75 million
Summary
The Measure E Citizens Bond Oversight Committee presented its annual report and told the board the project list aligns with the bond language; committee staff noted cost escalation risks and an anticipated Series A offering projected at $75,000,000.
John Demers, representing the Measure E Citizens Bond Oversight Committee, presented the committee’s annual report and told the Oxnard Union board the committee confirms alignment between Measure E’s language, the project list and expenditures.
"The Citizens Bond Oversight Committee essentially reviews the expenditures in the project list and ensures that they are aligned with the language in the bond measure," Demers said, describing the committee’s public-reporting role.
Demers highlighted completed and in-progress projects, showed before-and-after photos of campus improvements (including auditorium seating and locker-room repairs), and cautioned about industry-wide cost escalation, volatile tariffs and the difficulty of locking contractor pricing. He summarized the financial snapshot and said the committee expects a Series A bond sale projected at $75,000,000 to begin in April.
Trustees asked clarifying questions about transparency and financial reporting. Demers said committee meetings are subject to the Brown Act and minutes and agendas are posted publicly. The board moved to accept the CBOC annual report as presented; the motion passed 4-0.
District staff and trustees emphasized continued public-facing financial information as projects ramp up. Demers and staff said they are working on making financial displays more digestible for the public as construction activity accelerates.
