Funding Issues


As of October 2000, there are 1,152 homes within the Oakley City limits and within the boundary of the Antioch Unified School District.

The Districts have used different methods to secure funds. Most of the residential units west of Empire paid the Antioch Unified School District up-front developer fees and/or made payments toward a pre-existing General Obligation Bond for school facilities. However, a total of 192 residential units (October 2000), fall within Antioch's Community Facility District (CFD) paying Mello-Roos bond debt. Mello-Roos bonds were issued to pay for new school construction. The amount of the Mello-Roos tax levied on each residential unit was based upon the total number of homes included in the CFD. In the event the boundary were to change, it may be required that the Mello-Roos bond debt be paid off. Or, special legislation may be required to allow Oakley residents to leave the Mello-Roos District.

Developers in Liberty and Oakley School Districts are required to pay up-front developer fees. The Districts have also benefited from the proceeds of voter approved General Obligation Bonds. In March 2000, voters in the Liberty Union High School District extended an existing bond that increased their bond authorization by $40 million. Oakley Union Elementary School District's voters approved a $10 million bond in November 1998. In the event the boundary were to change, the bonded indebtedness of the Liberty and Oakley School Districts, would likely be shared by the 1,152 residential units in the effected area of Oakley.

What is a Mello-Roos district.