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Scio School District 95C Bond Issue, Measure 22-118 (May 2013)

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A Scio School District 95C Bond Issue measure was defeated on the May 21, 2013, election ballot in Linn County, which is in Oregon.

If approved, this measure would have authorized the Scio School District to increase its debt by $6.875 million through issuing general obligation bonds in that amount in order to fund the improvement projects described below in the Summary under the Text of measure section. The estimated tax levy rate needed to repay these bonds in the required 31 years is $1.04 per $1,000 of assessed valuation, which is $.25 per $1,000 higher than the current bond levy rate.[1]

Election results

Measure 22-118
ResultVotesPercentage
Defeatedd No50758.55%
Yes 333 38.45%
These results are from the Linn County elections office.

Text of measure

Question on the ballot:

Shall Scio School District 95C, Linn County, Oregon be authorized to issue general obligation bonds, not exceeding $6,875,000? If the bonds are approved, they will be payable from taxes on property or property ownership that are not subject to the limits of sections 11 and 11b, Article XI of the Oregon Constitution[1][2]

Summary:

If approved, this measure would provide funds for capital costs and bond issuance costs. Specifically, bond proceeds would be used for:

- Safety and security upgrades for Centennial Elementary School and possibly other district schools, if funds are remaining. Example would be door locks, security cameras, fencing, enclosures, technology and equipment.

- Construction of a gym/sport's facility at Scio High School; includes architect services, permits, excavation and paving, engineering/surveying, construction of facility, equipping and furnishing, telephone/intercom and technology infrastructure.

- Bond Issuance costs.

Current General Obligation bonds will expire 7/15/14. The District's current Bond Levy rate is .89/1000. It is estimated that the new Bond Levy for General Obligation Bonds will increase the existing Bond LEvy Rate by .25/1000. on a property with an assessed value of $100,000, the cost would be an additional $25 per year, over the existing Bond Levy Rate. Bonds would mature in thirty-one (31) years or less from issuance date and may be issue in one or more series.[1][2]

See also

External links

References

  1. 1.0 1.1 1.2 Linn County May 21, 2013 Election Notice
  2. 2.0 2.1 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.