This November’s election will allow voters to approve or reject a $120 million bond authorization for the Peoria Unified School Board. If approved, the bond would allow trustees to fund elementary and high school repairs and upgrades, district-wide safety, security, technology and transportation improvements, and the construction of new elementary schools.
The Peoria Unified Board on May 9 approved a call to authorize a $120 million bond recommended by a citizen advisory committee. The bond authorization will allow the school district to issue or sell up to $120 million in bonds, as well as a series of bonds. Credit for financing projects with a useful life of more than five years.
According to the Peoria Unified Governance Commission’s website, here’s a breakdown of how the funds received from the bond will be allocated:
• Safety and Security: $15.5 million
• Priority repairs and renovations for elementary and high schools: $57.2 million.
• New elementary school construction: $21 million.
• Priority safety upgrades and security for district facilities: $3.7 million.
• Technology: $10 million
• Transportation costs: $12.6 million
If approved, the bond would be the first for the district since 2012. The bond provided $2,451,189 for fire alarm replacements, HVAC upgrades, land improvements, cabling projects, computer replacements and several other projects. Bond funds cannot be used for day-to-day expenses such as paying employee salaries.
If the bond is approved, the future elementary school would be built on one of four lots owned by the Peoria Unified School District. The district has 37 elementary schools, seven comprehensive high schools, and one nontraditional high school.
The bond will primarily fund repairs and upgrades to the district’s schools, including essentials such as heating, air conditioning, roofing, plumbing, foundation repairs and parking. Funds will also be provided to upgrade campus support vehicles, including yellow school buses, and safety equipment such as fences and cameras.
Land donation agreements have been signed in three areas the Peoria Unified School Board discussed at its Sept. 26 meeting: Rancho Cabrillo, The Villas at Mystic, and The Meadows, all of which are in the master plan. Located near or within the community.
The Peoria Unified School Board’s website states, “Without bond funds, we would not be able to begin many major projects focused on school safety, security, and growth, and in many cases, the district would be unable to move forward with housing growth trends.” “We are years behind.”
The bond proposes an estimated annual average secondary tax rate increase of $0.27 per $100 of net assessed value of limited assets. For example, the owner of a $100,000 single-family home would pay $27.27 a year on the bond, the school board revealed Sept. 26. The estimated total amount of the bond, including interest, is $190.95 million.
The tax rate associated with fiscal year 2025 outstanding bond sales will be $0.58 per $100 of limited valuation. If voters approve this new bond program, the tax rate for fiscal year 2026 will remain at a similar rate: $0.57 per $100 of qualified valuation. There is a limit to the assessed amount. This is due to continued payments from existing bond sales and continued increases in real estate valuations within the District.
“The proposed $120 million bond authorization bond sale is structured so that there are no anticipated tax increases for the community,” the Peoria Unified School Board said on its website.
