Bonds are loans made to the school district. Generally bonds are used to purchase capital items and/or make capital improvements to existing facilities, such as building or renovating a school or purchasing school buses. School districts that have bonds approved by the voters must hold public hearings annually to alert the public on the progress of how the bond proceeds are spent.
How will your taxes be affected?
The average homeowner would pay $6.40 per month or 21¢ per day to support this bond.
Funds will be used to renovate and improve instructional and operational buildings and infrastructure at existing high schools, elementary schools and district support buildings including energy management, alternative renewable energy and security systems.
In addition, funds will support the district’s transportation needs by allowing the purchase of yellow school buses for student transportation. Vans and vehicles will also be purchased for student transportation and campus-related business.
Finally, bond funds will be used for technology by providing access and connectivity for students e.g. personal computing devices, projectors, wireless access, data center equipment for students.
The state’s School Facilities Board has not provided funding for building maintenance and repair in four years which forces districts to turn to bond monies to keep facilities up to standard.
What will happen if the bond is not approved?
If the bond does not pass, Peoria Unified School District school sites will move toward disrepair.
No. The Peoria Unified School District Governing Board determined that funding for Old Main would not be included in this bond initiative.
Bond funds are completely separate from Maintenance and Operations funds. In 2010, the district asked voters to approve a Maintenance and Operations (M&O) override which allows a school district to increase its M&O Budget by 10% of the state formula called the Revenue Control Limit.
This Override allowed the district to avoid elementary school closure(s), maintain current class sizes, continue to provide enhanced support services such as nurses, librarians and intervention and reading specialists at elementary schools. Bond funds will focus primarily on buildings, buses and technology.
The total bond is for $180 million. A detailed breakdown for each area can be found by clicking here
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