Advertisement

Corporate interests boost Measure S

Donations flow in from firms that could benefit from the passage of the $270-million school bond.

March 29, 2011|By Melanie Hicken and Megan O'Neil melanie.hicken@latimes.com, megan.oneil@latimes.com

GLENDALE — Nearly 60% of the money raised to support passage of the $270-million school bond in the April 5 election has come from companies that have a financial stake in the measure’s passage, records show.

Of the roughly $160,000 raised in support of Measure S, $93,500 came from firms or their representatives that could benefit from the work generated by the bond, according to the latest campaign finance disclosure forms filed with the city clerk’s office.

The contributions included $25,000 from Royal Bank of Canada Capital Markets; $25,000 from Los Angeles-based investment firm E.J. De La Rosa & Co.; $15,000 from Jones Hall, a San Francisco-based law firm that specializes in bond counsel; $10,000 from the chief executive officer of a Chino-based architecture firm; and $10,000 from a Newport Beach-based architectural firm.

Advertisement

There also were dozens of lesser contributions from local businesses, teachers and community members.

Supporters of the measure, which will essentially extend property-based fees that were put in place for the $186-million Measure K bond approved by voters in 1997, acknowledged that major donors had a financial stake in its passage.

Royal Bank of Canada Capital Markets and E.J. De La Rosa & Co. have already been contracted as the underwriters for the bond, said Eva Lueck, chief business and financial officer with the Glendale Unified School District, who is volunteering her expertise for the bond campaign. And San Francisco-based law firm Jones Hall is providing legal counsel.

All three firms are working on a contingency basis, meaning they will be paid only if Measure S passes, she added.

In addition, Lueck said that using traditional vetting processes, the district has selected four architecture firms that would be awarded work contracts should the bond pass. Two of the firms have donated to Measure S, records show.

Other construction firms may be donating in the hope that they will be tapped for Measure S-funded projects, officials said.

“Giving us money does not impact what decision is made, because they all have to leap through the same hoops to do business with the district,” said school board member Mary Boger, who is serving as co-chair of the “Yes on S” committee while running for re-election to the board.

Glendale News-Press Articles Glendale News-Press Articles
|
|
|