Buena Vista School District Bond Question (November 2012)
This question authorized the Buena Vista School District to issue up to $4,460,011 in general obligation bonds with a repayment cost of up to $7,805,000 in order to qualify for state funding of approximately $2,297,581 and in order to fund school building construction, improvement and equipping.
|Buena Vista School District Bond Question 3C|
Election results from Chaffee County Current Election Results Summary
Text of measure
Language on the ballot:
|“||SHALL BUENA VISTA SCHOOL DISTRICT NO. R-31 DEBT BE INCREASED $4,460,011, WITH A REPAYMENT COST OF UP TO $7,805,000, AND SHALL DISTRICT TAXES BE INCREASED UP TO $428,500 ANNUALLY, TO PROVIDE MATCHING MONEY FOR FINANCIAL ASSISTANCE FROM THE STATE OF COLORADO UNDER THE BUILDING EXCELLENT SCHOOLS TODAY ("BEST") PROGRAM IN THE ANTICIPATED AMOUNT OF $2,297,581 (WHICH STATE CONTRIBUTION IS CONTINGENT UPON THE PASSAGE OF THSI BALLOT ISSUE AND WHICH STATE CONTRIBUTION SHALL NOT REQUIRE REPAYMENT), FOR THE FOLLOWING PURPOSES: ACQUISITION, CONSTRUCTION AND EQUIPPING OF IMPROVEMENTS TO THE AVERY PARSONS ELEMENTARY SCHOOL, INCLUDING REBUILDING THE PRIMARY WING, MODIFICATION OF THE FACILITY TO ACCOMMODATE STATE OF THE ART TECHNOLOGY, UPDATES TO HEATING, PLUMBING AND ELECTRICAL SYSTEMS, ROOF REPAIR AND ASBESTOS REMEDIATION, AND OTHER FACILITY IMPROVEMENTS; AND TO THE EXTENT FUNDS ARE AVAILABLE AFTER PROVIDING FOR THE ABOVE PURPOSES, FOR THE PURPOSE OF IMPROVING AND EQUIPPING SCHOOL FACILITIES; SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF GENERAL OBLIGATION BONDS, INSTALLMENT SALE OR LEASE PURCHASE AGREEMENTS, OR OTHER MULTIPLE FISCAL YEAR OBLIGATIONS WHICH EITHER MAY BE SOLD TO INVESTORS OR ISSUED TO THE STATE TREASURER UNDER THE "BEST" PROGRAM; SUCH DEBT TO BE SOLD OR ISSUED IN ONE SERIES OR MORE, FOR A PRICEA BOVE OR BELOW THE PRINCIPAL AMOUNT THEREOF, ON TERMS AND CONDITIONS, AND WITH SUCH MATURITIES AS PERMITTED BY LAW AND AS THE DISTRICT MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A PREMIUM; AND SAHLL THE MILL LEVY BE INCREASED IN ANY YEAR, WITHOUT LIMITATION OF RATE AND IN AN AMOUNT SUFFICIENT TO PAY THE PRINCIPAL OR, PREMIUM, IN ANY, AND INTEREST ON SUCH DEBT OR ANY REFUNDING DEBT (OR TO CREATE A RESERVE FOR SUCH PAYMENT); AND SHALL THE DISTRICT BE AUTHORIZED TO ISSUE DEBT TO REFUND THE DEBT AUTHORIZED IN THIS QUESTION, PROVIDED THAT AFTER THE ISSUANCE OF SUCH REFUNDING DEBT THE TOTAL OUTSTANDING PRINCIPAL AMOUNT OF ALL DEBT ISSUE PURSUANT TO THIS QUESTION DOES NOT EXCEED THE MAXIMUM PRINCIPAL AMOUNT SEF FORTH ABOVE, AND PROVIDED FURTHER THAT ALL DEBT ISSUED BY THE DISTRICT PURSUANT TO THIS QUESTION IS ISSUED ON TERMS THAT DO NOT EXCEED THE REPAYMENT COSTS AUTHORIZED IN THIS QUESTION; AND SHALL SUCH TAX REVENUES AND THE EARNINGS FROM THE INVESTMENT OF SUCH BOND PROCEEDS AND TAX REVENUES BE COLLECTED, RETAINED AND SPENT AS A VOTER APPROVED REVENUE CHANGE UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW?
State of Colorado
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