Weld County School District 6 Bond Question (November 2012)
This question authorized the Weld County School District 6 to issue up to $8.2 million in general obligation bonds with a repayment cost of up to $14.5 million. These bond would be payable by a tax increase of $845,000 per year. Contingent on the approval of this bond question, these funds would provide local matching money required for a State Grant of approximately $21 Million. These funds together would be used to fund the construction of a replacement facility for John Evans Middle School.
|Weld County School District 6, Question 3A|
Election results from Weld County Summary of Election Results
Text of measure
Language on the ballot:
|“|| SHALL WELD COUNTY SCHOOL DISTRICT 6 DEBT BE INCREASED UP TO $8.2 MILLION, WITH A TOTAL REPAYMENT COST (PRINCIPAL AND INTEREST) OF UP TO $14.5 MILLION, AND SHALL DISTRICT TAXES BE INCREASED BY UP TO $845,000 ANNUALLY, SOLELY TO PROVIDE LOCAL MATCHING MONEY REQUIRED FOR A STATE GRANT OF APPROXIMATELY $21 MILLION UNDER THE BUILDING EXCELLENT SCHOOLS TODAY (BEST) PROGRAM FOR EITHER THE 2012 OR 2013 GRANT APPLICATION YEARS (WHICH FINANCIAL ASSISTANCE GRANT WILL BE CONTINGENT UPON THE PASSAGE OF THIS BALLOT ISSUE) FOR THE PURPOSE OF PAYING THE COSTS OF:
• CONSTRUCTING A REPLACEMENT FACILITY FOR JOHN EVANS MIDDLE SCHOOL;
WHICH DEBT SHALL CONSIST OF THE ISSUANCE AND PAYMENT OF GENERAL OBLIGATION BONDS WHICH SHALL BEAR INTEREST, MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, AND BE ISSUED AT SUCH TIME, AT SUCH PRICE (AT, ABOVE OR BELOW PAR) AND IN SUCH MANNER AND CONTAINING SUCH TERMS, NOT INCONSISTENT WITH THIS BALLOT ISSUE, AS THE BOARD OF EDUCATION MAY DETERMINE; AND SHALL AD VALOREM PROPERTY TAXES BE LEVIED WITHOUT LIMIT AS TO THE MILL RATE TO GENERATE 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?