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Weld County School District RE-8 bond Question (November 2012)
This question authorized the Weld County School District RE-8 to issue up to $11,729,000 in general obligation bonds or other obligations with a repayment cost of up to $17,590,000 in order to fund the maintenance of school facilities, repairing and renovating For Lupton Middle School as well as other improvement projects. This debt will be payed back through a tax increase of $895,000 per year.
|Weld School District RE-8 Question 3B|
Election results from Weld County Summary of Election Results
Text of measure
Language on the ballot:
|“||SHALL WELD COUNTY SCHOOL DISTRICT RE-8 (FORT LUPTON SCHOOLS) DEBT BE INCREASED $11,729,000, WITH A REPAYMENT COST OF UP TO $17,590,000, AND SHALL DISTRICT TAXES BE INCREASED BY UP TO $895,000 ANNUALLY, TO EXTEND THE USEFUL LIFE OF EXISTING SCHOOL FACILITIES AND REDUCE OPERATION AND MAINTENANCE COSTS BY FINANCING THE COSTS OF:
• REPAIRING AND RENOVATING FORT LUPTON MIDDLE SCHOOL, $5.5 MILLION OF THE COSTS OF WHICH ARE EXPECTED TO BE PAID FROM A CASH GRANT AWARD UNDER THE STATE OF COLORADO BUILDING EXCELLENT SCHOOLS TODAY (BEST) ACT, WHICH REPAIRS AND RENOVATIONS INCLUDE, AMONG OTHER THINGS, FIRE SAFETY UPGRADES, SECURITY AND SURVEILLANCE SYSTEM UPGRADES, WINDOW REPLACEMENT, FLOORING REPLACEMENT, HEATING AND COOLING SYSTEM REPLACEMENT, RESTROOM UPGRADES AND AMERICANS WITH DISABILITIES ACT (ADA) IMPROVEMENTS;
• REPAIRING AND RENOVATING BUTLER ELEMENTARY AND TWOMBLY ELEMENTARY, WHICH REPAIRS AND RENOVATIONS INCLUDE, AMONG OTHER THINGS, ROOF REPLACEMENT, HEATING AND COOLING SYSTEM UPGRADES, FLOORING REPLACEMENT, AND SCHOOL GROUNDS AND PARKING LOT REPAIRS;
• REPAIRING AND RENOVATING THE HIGH SCHOOL, WHICH REPAIRS AND RENOVATIONS INCLUDE, AMONG OTHER THINGS, HEATING AND COOLING SYSTEM UPGRADES, ROOF REPLACEMENT, FLOORING REPLACEMENT, SECURITY AND SURVEILLANCE SYSTEM UPGRADES, AND ATHLETIC FACILITY UPGRADES INCLUDING, AMONG OTHER THINGS, FOOTBALL FIELD RENOVATION, TRACK AND TENNIS COURT RESURFACING AND GYM BLEACHER REPLACEMENTS;
AND TO THE EXTENT FUNDS ARE AVAILABLE AFTER PROVIDING FOR THE ABOVE COSTS, TO PAY OTHER COSTS OF IMPROVING AND EQUIPPING SCHOOL FACILITIES, BY THE ISSUANCE AND PAYMENT OF GENERAL OBLIGATION BONDS, WHICH DEBT SHALL BEAR INTEREST, MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, AND BE ISSUED, DATED AND SOLD 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?
State of Colorado
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