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Klamath County School District Bond Issue, Measure 18-91 (May 2013)

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A Klamath County School District Bond Issue measure was narrowly approved on the May 21, 2013, election ballot in Klamath County, which is in Oregon.

This measure authorized the Klamath County School District to increase its debt by $31 million through issuing general obligation bonds in that amount in order to fund the improvement projects described below in the Summary under the Text of measure section. The estimated property tax rate needed to repay these bonds in the required 20 years is $0.53 per $1,000 of assessed valuation.[1]

Election results

Measure 18-91
ResultVotesPercentage
Approveda Yes 5,352 50.80%
No5,18449.20%
‘’These results are from the Klamath County elections office.’’

Text of measure

Question on the ballot:

This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.

Shall Klamath County School District be authorized to issue general obligation bonds not exceeding $31,000,000 i with citizen oversight? If the bonds are approved, they will be payable from taxes on property or property ownership that are not subject to the limits of sections 11 and 11 b, Article XI of the Oregon Constitution.[1]

Summary:

This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.

If approved, this measure would fund capital costs and bond issuance costs. Specifically, bond proceeds would be used to: • Construct, furnish and equip a new Henley Elementary School, including site improvements and new bus loading area. Relocate existing modular buildings to other District locations.
• Make health and life safety upgrades including fire alarms. The majority of fire alarms were installed in the 1950's and 1960's and do not communicate with 911 or security monitoring companies for immediate response.
• Make energy saving improvements including new light fixtures, windows, and wall systems.
• Update flooring and ceiling tiles. Abate asbestos materials as required.
• Other improvements, including but not limited to, heating/air conditioning systems and roofs.
• Pay bond issuance costs.

Bonds would mature twenty (20) years or less from issuance and may be issued in one or more series. Estimated yearly property tax rate is $0.53 per $1,000 of assessed value. Actual rate may vary depending upon interest rates, assessed value growth, and other factors. Citizen oversight committee would ensure funds are used as intended. [1]

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