Its contents are as follows. “Without the imposition of new taxes, the debt of the St. Vrain Valley School District should be increased by $739.8 million, with a maximum aggregate payment of no more than $998.9 million, for the following purposes: ”
Improved safety and security, including secure vestibules, building access controls, first responder communications, and fire sprinklers.
Replace aging electrical, plumbing, and HVAC systems and undertake other repairs and renovations to extend the lifespan of school buildings, reduce emergency repairs, improve air quality, and increase energy efficiency.
Build a career and technical education center to enhance and expand vocational classes and provide additional instructional space for science, technology, engineering, and mathematics (STEM) programming.
Add classrooms and construct and equip new school buildings to address overcrowding and future enrollment growth.
and to acquire, construct, or improve any capital property that the school district is authorized by law to own.
Additionally, taxes authorized in the district’s 2002, 2008, and 2016 bond elections have been extended and extended so that they can be used to pay debts authorized in this election, in addition to debts authorized in previous elections. shall be approved. Such debt shall be evidenced by the issuance and payment of general obligation bonds. The Notes shall bear interest, mature and be redeemable, with or without a premium not to exceed 3%, and shall be issued, dated and sold at that time. , including prices (at par, above par, or below par), methods and conditions consistent with these Terms, as determined by the School District. provided further that ad valorem property taxes shall be levied without limitation at rates to pay the principal, insurance premiums (if any) and interest on such bonds and any bonds issued to fund the refinancing and payment reserve of such bonds; do. That; and will the district be subject to an annual independent audit that will be published on the district’s website, and will expenditures be subject to review by a board-appointed resident oversight committee? ”
What it means: St. Vrain Valley School District is seeking a $739.8 million bond issue to pay for five new buildings. The plan includes three new schools to accommodate anticipated enrollment growth over the next 10 years in the Carbon Valley, Erie, and Meade regions, as well as a second career and technical education center for those students. Contains. Also expected is a new building for St. Vrain Community Montessori, a charter school in Longmont. In addition to new buildings, the proposal includes funding for maintenance, repairs and safety improvements to existing schools, as well as funding to add classrooms and reconfigure aging spaces. To raise the money, the district plans to extend a mill levy increase that voters approved on a previous bond issue. Property taxes will not go up. The estimated total repayment cost, including interest, is $998.9 million.
Proponents say: Bond issuance is necessary to address enrollment growth and expand career and technical education offerings. Delaying school maintenance as buildings age and key systems reach the end of their useful lives can lead to increased building age and increased costs. Bond spending would be overseen by a public accountability board to ensure that funds are spent as intended.
Opponents say: Taxes are too high, and if this bill is not approved, property owners, especially those on fixed incomes, will benefit from tax breaks. Instead of borrowing money, school districts should use operating funds to maintain buildings and require developers to pay for new schools as they grow.
