Frequently asked questions about school bonds - 2004
Main | General | Prop.
5 | Prop. 6
General bond questions
 Why
does the district have school bond propositions on the ballot every year?
 The
district has nearly 100 schools, instructional
programs, and support offices across the
municipality, totaling more than 7 million
square feet of facilities. We spend $17
million in our annual operating budget
for day-to- day repairs and preventative
maintenance, but major building components
eventually wear out and need to be replaced.
Older schools can also reach a point where
the entire structure becomes functionally
obsolete and requires major renovation.
With nearly 100 facilities in our care,
repairs and renovations are needed at a
handful of schools every year.
How
much existing bond debt has the school
district paid recently?
The school district makes
annual payments on principal and
interest for school bonds approved by voters.
The district is
scheduled to pay $28.7 million of principal debt
during the
current school year, $34.8 million next year,
and $33.5 million
the following year.
What is the total amount of existing bond debt
for the district?
The district currently has $681.3 million
of existing bond debt
principal. A variety of State reimbursement plans combine
to pay
51 percent of this debt, subject to annual legislative appropriation.
What is the mill rate for school taxes?
The school district
mill rate, used to determine property
tax on a home, has decreased for three years in a row,
from 8.20
mills in 2001, to 7.81 mills in 2002, to 7.37 mills in 2003.
Based
on the proposed budget for 2004-2005, it will be 7.29 mills
in
2004 (does not include the April 2004 bonds).
 If you have comments or questions regarding these bonds, call 907-742-4153 or e-mail us using our Bond comment box
|
|
 |
|
