Platte Valley School District Bond Issues, 3B (November 2009)
The measure sought to create a bond for the amount of $7.7 million and would add on average $5.74 to resident's property taxes each year. The money from the bond would be used to buy the schools improved technology and help to upgrade the infrastructure of the schools.
The measure was approved.
The ballot language read as follows:
Shall Weld County School District No. RE-7 (Platte Valley School District) debt be increased $7,700,000, with a repayment cost of up to $11,481,000, and shall district taxes be increased by up to $1,550,000 annually for the purposes of
- constructing, improving and remodeling school buildings, facilities and grounds to provide safe and adequate learning environments in the schools,
- repairing school buildings to extend the life of school buildings and reduce maintenance costs,
- implementing a bus/vehicle acquisition and replacement program as determined by the board of education, and
- in conjunction with the improvements, remodeling and repairs, replacing and upgrading technology in all schools and support facilities
By the issuance and payment of general obligation bonds, which bonds shall bear interest at a maximum net effective interest rate not to exceed 5.90% and 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; shall ad valorem property taxes be levied in any year, without limitation as to rate or amount or any other condition, to pay the principal of, premium, if any, and interest on such bonds and to fund any reserves for the payment thereof; and shall any earnings from the investment of the proceeds of such taxes and bonds (regardless of amount) constitute a voter-approved revenue change?