Dolores School District Bond Question (November 2012)

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A Dolores School District Bond question was on the November 6, 2012 election ballot in Montezuma County, which is in Colorado, where it was approved.

This question authorized the Dolores School District to issue up to $3,471,112 in general obligation bonds with a repayment cost of up to $6,052,545 to be repayed by a tax increase of up to $302,627. These funds will be used to provide matching money to qualify the District for State Financial Assistance in the amount of $2,618,558. These funds together will be used to make improvements to District facilities.[1]

Election results

Dolores School District Bond, Measure 3C
ResultVotesPercentage
Approveda Yes 1,415 63.65%
No80836.35%

Election results from Montezuma County Current Election Results Summary

Text of measure

Language on the ballot:

SHALL DOLORES SCHOOL DISTRICT NO. RE-4A DEBT BE INCREASED $3,471,112, WITH A REPAYMENT COST OF UP TO $6,052,545, AND SHALL DISTRICT TAXES BE INCREASED UP TO $302,627 ANNUALLY, TO PROVIDE MATCHING MONEY FOR FINANCIAL ASSISTANCE FROM THE STATE OF COLORADO UNDER THE BUILDING EXCELLENT SCHOOLS TODAY ("BEST") PROGRAM IN THE AMOUNT OF $2,618,558, FOR THE FOLLOWING PURPOSES:

CONSTRUCT AND EQUIP A NEW SCIENCE AND VOCATIONAL FACILITY, ADDITIONAL CLASSROOMS, AND OTHER FACILITIES TO ALLEVIATE CRITICAL HEALTH AND SAFETY NEEDS;

WHICH STATE FINANCIAL ASSISTANCE WOULD NOT BE REQUIRED TO BE REPAID AND WILL BE DISTRIBUTED TO OTHER SCHOOL DISTRICTS IF THS BALLOT ISSUE DOES NOT PASS; AND TO THE EXTENT FUNDS ARE AVAILABLE AFTER PROVIDING FOR THE ABOVE PURPOSES, FOR THE PURPOSE OF IMPROVING AND EQUIPPING SCHOOL FACILITIES; SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF GENERAL OBLIGATION BONDS, INSTALLMENT SALE OR LEASE PURCHASE AGREEMENTS, OR OTHER MULTIPLE FISCAL YEAR OBLIGATIONS WHICH EITHER MAY BE SOLD TO INVESTORS OR ISSUED TO THE STATE TREASURER UNDER THE "BEST" PROGRAM; SUCH DEBT TO BE SOLD OR ISSUED IN ONE SERIES OR MORE, FOR A PRICE ABOVE OR BELOW THE PRINCIPAL AMOUNT THEREOF, ON TERMS AND CONDITIONS, AND WITH SUCH MATURITIES AS PERMITTED BY LAW AND AS THE DISTRICT MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A PREMIUM, PROVIDED THAT ANY SUCH DEBT SHALL MATURE NOT MORE THAN TWENTY-ONE YEARS AFTER THE DATE OF ISSUANCE;

AND SHALL THE AD VALOREM PROPERTY TAXES BE LEVIED WITHOUT LIMIT AS TO THE MILL RATE TO PRODUCE AN AMOUNT SUFFICIENT IN EACH YEAR TO PAY THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON SUCH DEBT OR ANY REFUNDING DEBT (OR TO CREATE A RESERVE FOR SUCH PAYMENT); AND SHALL THE DISTRICT BE AUTHORIZED TO ISSUE DEBT TO REFUND THE DEBT AUTHORIZED IN THIS QUESTION, PROVIDED THAT AFTER THE ISSUANCE OF SUCH REFUNDING DEBT THE TOTAL OUTSTANDING PRINCIPAL AMOUNT OF ALL DEBT ISSUED PURSUANT TO THIS QUESTION DOES NOT EXCEED THE MAXIMUM PRINCIPAL AMOUNT SET FORTH ABOVE, AND PROVIDED FURTHER THAT ALL DEBT ISSUED BY THE DISTRICT PURSUANT TO THE QUESTION IS ISSUED ON TERMS THAT DO NOT EXCEED THE REPAYMENT COSTS AUTHORIZED IN THIS QUESTION; AND SHALL SUCH TAX REVENUES AND THE EARNINGS FROM THE INVESTMENT OF SUCH BOND PROCEEDS AND TAX REVENUES BE COLLECTED, RETAINED AND SPENT AS A VOTER APPROVED REVENUE CHANGE UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW?

YES

NO[1][2]

Statewide

A 2013 statewide measure, Amendment 66, would authorize Colorado to increase taxes with an expected revenue increase of $950 million for school funding.[3]

See also


References

  1. 1.0 1.1 Montezuma County Elections, Dolores School District Sample Ballot
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
  3. Colorado Amendment 66



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