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Orting School District no. 344 Proposition no. 1

The Board of Directors of Orting School District No. 344 adopted Resolution No. 8.2016-2017 concerning a proposition to issue general obligation bonds. If approved, this proposition will authorize the District to construct a complete new elementary school; to issue $43,000,000 of general obligation bonds maturing within a 21 year maximum term; and to levy excess property taxes annually to repay the bonds, all as described in Resolution No. 8.2016-2017. Explanatory StatementA bond measure was placed before voters in the Orting School District in February 2017. While the majority of voters favored the measure, it did not receive the required 60% supermajority approval. The District's Board of Directors unanimously voted to place a revised measure on the November 2017 ballot to address needed improvements to District facilities. Student enrollment growth has placed a strain on classroom space at existing District facilities at the elementary level. By 2021-22, the District's permanent classroom space housing grades K-5 will be 180% utilized, resulting in more portable classrooms. Proceeds of the proposed bond would be used to construct and equip a new elementary school for approximately 700 students, relieving overcrowding in the District.If approved, the District expects to receive approximately $1,000,000 in State matching funds to complete the project. The bond would cost voters approximately $.72 per $1,000 of assessed property value. Tax exemptions may be available to homeowners, age 61 or older, and disabled persons that meet certain income requirements. For information, call the Pierce County Assessor-Treasurer at 253.798.2169.
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