West End School District Bond Question (November 2012)
If approved, this question would have authorized the Dolores School District to issue up to $8.94 million in general obligation bonds with a repayment cost of up to $15.6 million to be repayed by a tax increase of up to $780,000 per year. These funds will be used to provide matching money to qualify the District for State Financial Assistance in the amount of $12.98. These funds together will be used to make improvements to District facilities.
|West End School District Bond, Prop. 103|
Election results from Montrose County Current Election Results Summary
Text of measure
Language on the ballot:
This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
|“|| SHALL WEST END SCHOOL DISTRICT NO. RE-2 DEBT BE INCREASED $8.94 MILLION, WITH A REPAYMENT COST OF UP TO $15.6 MILLION, AND SHALL DISTRICT TAXES BE INCREASED BY UP TO $780,000 ANNUALLY, BY THE ISSUANCE AND PAYMENT OF GENERAL OBLIGATION BONDS TO PROVIDE LOCAL MATCHING MONEY REQUIRED FOR THE DISTRICT TO RECEIVE $12.98 MILLION IN STATE FINANCIAL ASSISTANCE UNDER THE "BEST" PROGRAM TO FINANCE THE COSTS OF:
CONSTRUCTING A REPLACEMENT SCHOOL BUILDING FOR PRE-SCHOOL THROUGH TWELFTH GRADE TO ADDRESS HEALTH, SAFETY AND ENERGY USE DEFICIENCIES; AND
RENOVATING THE HISTORIC STONE BUILDING TO EXTEND AND PRESERVE THE USEFUL LIFE OF THE STRUCTURE;
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 AXES 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?