Why a Bond? Why NOW?
Approval of the Bond will allow the District to create 21st Century Programs and Facilities for our students and our community, with no additional property tax to residents. The approval of Propositions 1 and 2 will replace maturing debt from the 2002 bond, which is scheduled to be paid off in 2018. Due to our excellent credit rating and current interest rates, the new principal plus interest payments will be less than what we are currently paying. Approval of the bond will also allow the district to realize a 28.3% Building Aid reimbursement from the state (approximately $7.5 million), spread out over the life of the bond.
Approval of Proposition 1 will provide much needed timely upgrades to our facilities and assist the District in meeting the needs of our students. Financing via annual budgets would delay construction over a decade and result in a higher cost.
Approval of Proposition 2 will be an excellent resource for our students for curriculum and extracurricular activities, as well as for the entire community. For example, senior citizens will be offered open swim time periods when the pool is not in use by students. It will also provide a revenue stream to offset annual costs.
Proposition 1: $20,635,000 bond to include the following projects *
- State-of-the-Art Library Media Center in the Elementary Schools
- Renovation to the High School Auditorium and Music Suite
- Renovation to the High School Cafeteria and Kitchen
- Renovation to the High School Technology Rooms
- Security Upgrades to the Middle School Main Entrance
- Renovation of the Middle School Nurse’s Office
- Roof replacements
- District wide upgrades to Electric Service and Heating,
- Ventilation and Air Conditioning (HVAC) Units.
* actual capital work will be $26,885,000 and will be offset by $6,250,000 from reserves
Proposition 2: $14,740,000 bond for an Aquatic Center at the High School**
- Competition 6-lane, 25-meter indoor swimming pool
- Locker facilities for student athletes
- Lobby for guests and community use
- Parking and traffic flow improvements to Newbridge Rd at the High School
** contingent upon the approvalof Proposition 1