Sheridan School District No. 2 Bond Question (November 2012)
This question authorized the Sheridan School District No. 2 to issue general obligation bonds in the amount of $6.5 million with a repayment cost of not more than $11.4 million. District taxes would be increased by $567,000 per year in order to pay for these bonds. This would allow the District to receive funds from the state in the amount of $23 million. This money would be used for school facilities improvements.
|Sheridan School District Question 3D|
Election results from Arapaho County, Unofficial Election Results Summary
Text of measure
Language on the ballot:
|“||SHALL SHERIDAN SCHOOL DISTxRICT NO. 2 DEBT BE INCREASED $6.5 MILLION, WITH A REPAYMENT COST OF UP TO $11.4 MILLION AND SHALL DISTRICT TAXES BE INCREASED BY UP TO $567,000 ANNUALLY, BY THE ISSUANCE AND PAYMENT OF GENERAL OBLIGATION BONDS TO PROVIDE LOCAL MATCHING MONEY REQUIRED FOR THE DISTRICT TO RECEIVE $23 MILLION IN STATE FINANCIAL ASSISTANCE UNDER THE “BEST” PROGRAM TO FINANCE THE COSTS OF:
• CONSTRUCTING A NEW CONSOLIDATED GRADE 3 THROUGH 5 AND GRADE 6 THROUGH 8 FACILITY ON THE CURRENT SITE OF THE EARLY CHILDHOOD ENTER TO MEET HEALTH, LIFE SAFETY AND ENERGY EFFICIENCY STANDARDS WHILE ENHANCING EDUCATIONAL OPPORTUNITIES FOR STUDENTS; AND
• REPURPOSING THE CURRENT MIDDLE SCHOOL BUILDING AND ADDRESSING SECURITY, LIFE SAFETY AND BUILDING DEFICIENCIES FOR RELOCATION AND EXPANSION OF THE EARLY CHILDHOOD CENTER TO THE RENOVATED BUILDING TO SERVE ADDITIONAL STUDENTS;
WHICH STATE FINANCIAL ASSISTANCE WOULD NOT BE REQUIRED TO BE REPAID AND WILL BE DISTRIBUTED TO OTHER SCHOOL DISTRICTS IF THIS BALLOT ISSUE IS NOT PASSED;
AND WHICH GENERAL OBLIGATION BONDS SHALL BEAR INTEREST, MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, AND BE ISSUED AT SUCH TIME OR TIMES, AT SUCH PRICES (AT, ABOVE OR BELOW PAR) AND IN SUCH MANNER AND CONTAINING SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE BOARD OF EDUCATION MAY DETERMINE;
AND SHALL 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 AND TO FUND ANY RESERVES FOR THE PAYMENT THEREOF?