North Hunterdon-Voorhees School District Bond Measure (April 2010)
This measure was defeated
All ten areas that are a part of the school district defeated this measure.
- YES 489 (43.97%)
- NO 623 (56.03%)
This measure sought to create a bond in the amount of $17.5 million in order to help pay for various repair projects throughout the district schools. The tax increase to pay for this would be around $10 per $100,000 of assessed property value. School officials were trying to educate local residents on the importance of the referendum to the schools and the need to have the bond issued now. School officials noted the good time to borrow and the need for the proposed capital projects.
Text of Measure
The text of the measure reads as follows:
The Board of Education of the North Hunterdon-Voorhees Regional High School District in the County of Hunterdon, New Jersey is authorized to (A) undertake school facilities renovations at (i) North Hunterdon High School; entailing installation of new roofs and a new ADA compliant elevator, renovation of four science labs and the boys/girls bathrooms near the main office, replacement of HVAC units and required asbestos abatement/removal, and (ii) Voorhees High School, entailing replacement of HVAC units and required asbestos abatement/removal and (B) expend a maximum of $17,496,672 to fund such project. The School District has been awarded State Aid representing 40%, or $6,998,668, of the project's final eligible costs of $17,496,672 (which eligible costs are preliminarily allocable as follows: $14,190,661 to North Hunterdon High School; and $3,306,011 to Voorhees High School). If the State determines to fund the State Aid via a $6,998,668 up-front State grant, the School District is authorized to issue School District bonds in a maximum $10,498,004 amount, representing the School District's local share of the project costs. The School District is also authorized to issue additional bonds in an amount not exceeding the State grant amount, to (A) temporarily finance the State grant for cash flow purposes only as necessary, pending its actual receipt of the State grant moneys, or (B) permanently finance the State grant amount, in the event, and to the extent, that the State determines to provide State Aid on all or a portion of the project costs in the form of annual State debt service aid (such debt service aid to be 40% of the principal and interest payable on the portion of the School District debt that is to receive debt service aid).