About Town

Published February 21, 2008

The city school district raised $18.8 million from a voter-approved 2002 bond issue, matching funds from the state government, a bond sale premium and interest from the bond sales, a Citizens’ Oversight Committee reported.

The estimated cost of the projects funded by the bonds is $19.4 million, leaving the school district $600,000 to make up using reserves, fees charged to developers, and other sources, reported the committee, which was mandated by state law to ensure that the bond money was spent properly.

The committee reported that the school district “was fully compliant with the requirements of California law. None of the bond funds had been used for prohibited purposes.”
The committee described the school district as “very cooperative” in “sharing all construction planning data, all projected cost data, and all payment information,” and providing administrative support to the committee.

The bonds and other revenues funded construction of an $11 million building with a gym, library and classrooms at Hermosa Valley School, and renovations at Valley School and Hermosa View School.

The Citizens’ Oversight Committee consists of chairman and senior citizen representative Sam Abrams, vice chair and business representative Gary Wayland, accountant Lisa Arnett of the School Facilities Advisory Committee, taxpayer organization representative Jim Caldwell, parent representative Jim Hausle, member-at-large Kelly Kinnon and parent-teacher organization representative Cindy Smet.

The original 2002 bond issue was $13.6 million, which was augmented by $2 million in matching funds from the state. The Citizens’ Oversight Committee was charged with assuring that bond revenues would not be spent on teacher salaries, administrative costs, operating expenses or other non-bond items.

The Citizens’ Oversight Committee’s next meeting will be 5:30 p.m. Wednesday, March 12, in the multipurpose room at Valley School, located on Valley Drive north of Pier Avenue.

Heartfelt reminder
The Hermosa Beach Education Foundation’s premier fundraising event, the Hearts of Hermosa dinner, dance and auction, takes place Friday, March 7 at Sangria restaurant on the Pier Plaza.
The event will feature a starlit venue with cocktail party attire, a silent auction, complimentary drinks and hors d'oeuvres, dinner prepared by the chefs at Sangria, a popular live auction, and dancing to Tres Hombres.

In the past, auction items have included vacation homes, sports memorabilia, art, fine wines and much more. Reservations may be made at www.hbef.com through Saturday, March 1. The event sells out every year and tickets will not be sold at the door. ER