Cherry Creek School District Levy Increase (November 2012)
This measure sought to increase the current school levy by a rate of $25 million over the course of the increase. The additional money would go towards maintaining classes, current programs and classes in the district.
|Cherry Creek School Question 3B|
Election results from Arapaho County, Unofficial 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 CHERRY CREEK SCHOOL DISTRICT NO. 5 DEBT BE INCREASED $125,000,000 WITH A REPAYMENT COST OF $232,486,000, AND SHALL DISTRICT TAXES BE INCREASED $19,351,000 ANNUALLY TO PAY SUCH DEBT, ALL FOR THE PURPOSE OF:
• REPAIRING, RENOVATING, OR MAKING ADDITIONS TO SCHOOL BUILDINGS, INCLUDING, BUT NOT LIMITED TO, MODERNIZING WIRING, FIRE PROTECTION, HEAT AND AIR CONDITIONING SYSTEMS AND PLUMBING AT EXISTING SCHOOLS,
• EQUIPPING OR FURNISHING SCHOOL BUILDINGS, INCLUDING, BUT NOT LIMITED TO, SCHOOL SAFETY EQUIPMENT, TECHNOLOGY AND INTERNET OR NETWORK EQUIPMENT AND,
• PROVIDING FACILITIES AND EQUIPMENT TO INCREASE STUDENT LEARNING OPPORTUNITIES IN STEM (SCIENCE, TECHNOLOGY, ENGINEERING AND MATH) PROGRAMS THROUGHOUT THE DISTRICT, AND
• ACQUIRING OR PURCHASING BUILDINGS OR LAND AND IMPROVING SCHOOL GROUNDS;
AND SHALL THE MILL LEVY BE INCREASED IN ANY YEAR WITHOUT LIMITATION AS TO RATE AND AMOUNT SUFFICIENT TO PAY THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON SUCH DEBT OR ANY REFUNDING DEBT (OR TO CREATE A RESERVE FOR SUCH PAYMENT); SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF GENERAL OBLIGATION BONDS TO BE SOLD IN ONE SERIES OR MORE, FOR A PRICE ABOVE OR BELOW THE PRINCIPAL AMOUNT OF SUCH SERIES, ON TERMS AND CONDITIONS AND WITH SUCH MATURITIES AS PERMITTED BY LAW, INCLUDING PROVISIONS FOR REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF THE PREMIUM OF NOT TO EXCEED ONE PERCENT;
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 ISSUED PURSUANT TO THIS QUESTION DOES NOT EXCEED THE MAXIMUM PRINCIPAL AMOUNT SET 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 AND AN EXCEPTION TO THE LIMITS WHICH WOULD OTHERWISE APPLY UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW?
The group Citizens for Cherry Creek Schools is the main force behind supporting this measure.