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VOTE411 Voter Guide

Pueblo School District 70 Bond Question 4A

SHALL PUEBLO COUNTY SCHOOL DISTRICT NO. 70 DEBT BE INCREASED BY $75 MILLION WITH A REPAYMENT COST OF NOT TO EXCEED $125 MILLION, AND SHALL DISTRICT TAXES BE INCREASED NOT MORE THAN $9.5 MILLION ANNUALLY, BUT WITH NO EXPECTED INCREASE IN THE DISTRICT'S CURRENT DEBT SERVICE MILL LEVY OF 12.963 MILLS, BY THE ISSUANCE AND PAYMENT OF GENERAL OBLIGATION BONDS TO PROVIDE CAPITAL IMPROVEMENTS FOR DISTRICT PURPOSES INCLUDING $3,762,541.64 IN FUNDING FOR LOCAL MATCHING MONEY REQUIRED FOR THE DISTRICT TO RECEIVE IN STATE GRANT FUNDS (WHICH ARE NOT REQUIRED TO BE REPAID AND THE RECEIPT OF WHICH IS CONTINGENT ON THE DISTRICT'S ABILITY TO PROVIDE THE MATCHING PORTION) UNDER THE BUILDING EXCELLENT SCHOOLS TODAY ("BEST") PROGRAM, ALL FOR PROVIDING CAPITAL ASSETS FOR DISTRICT PURPOSES, INCLUDING:PROVIDING HEALTH, SAFETY AND SECURITY UPGRADES AND IMPROVEMENTS TO ALL DISTRICT SCHOOLS, INCLUDING VENTILATION AND INDOOR AIR QUALITY UPGRADES, HEATING AND COOLING SYSTEM REPLACEMENTS AND UPGRADES, ENERGY EFFICIENCY IMPROVEMENTS, DISTRICT-WIDE SECURITY CAMERA SYSTEM EXPANSION AND INTERCOM SYSTEM REPLACEMENTS, SECURED ENTRY AND CONTROLLED ACCESS UPGRADES, ROOF REPLACEMENTS AND REPAIRS, PARKING LOT REPLACEMENTS AND ASPHALT REPAIR, TRAFFIC FLOWRECONFIGURATIONS, INTERIOR RENOVATIONS AND REPAIRS, CLASSROOM RENOVATIONS, SPACE RECONFIGURATIONS AND OUTDOOR CLASSROOM ADDITIONS, AND OTHER UPGRADES; BY CONSTRUCTING, RENOVATING AND UPDATING SUCH FACILITIES IN ORDER TO EXTEND THE LIFE OF AGING BUILDINGS, MAKE CRITICAL REPAIRS, AND ADDRESSING DEFERRED MAINTENANCE ISSUES;CONSTRUCTING CAPITAL IMPROVEMENTS AT PLEASANT VIEW MIDDLESCHOOL IN ACCORDANCE WITH THE BEST GRANT FOR THE HEALTH AND SAFETY OF STUDENTS AND STAFF, INCLUDING UPGRADED ELECTRICAL INFRASTRUCTURE, HVAC SYSTEM REPLACEMENT AND CONTROLS, REPLACE FLOORING AND CEILINGS, REPLACE ROOF AND GUTTERS, REPAIR DRAINAGE AND UPGRADE DOORS; ABATEMENT AND OTHER UPGRADES;AND SHALL THE MILL LEVY BE INCREASED IN ANY YEAR, WITHOUT LIMITATION OF RATE BUT ONLY IN AN AMOUNT SUFFICIENT TO PAY THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON SUCH DEBT OR ANY REFUNDING DEBT (OR TO CREATE A RESERVE FOR SUCH PAYMENT), SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF GENERAL OBLIGATION BONDS OR OTHER MULTIPLE-FISCAL YEAR FINANCIAL OBLIGATIONS; SUCH DEBT TO BE SOLD IN ONE SERIES OR MORE, FOR A PRICE ABOVE OR BELOW THE PRINCIPAL AMOUNT OF SUCH SERIES, ON TERMS AND CONDITIONS, AND WITH SUCH MATURITIES AS PERMITTED BY LAW AND AS THE DISTRICT DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE DEBT PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF THE PREMIUM OF NOT TO EXCEED THREE PERCENT?SUMMARYIf Approved by the voters School District 70 the State has selected the District as recipient for a BEST (Building Excellent Schools Today) grant for 2020/2021. In order for the District to take advantage of the BEST funding in the amount of $3,762,541.64 (which does not need to be repaid), the District is required to provide matching funding in the aggregate principal amount of $4,788,689.36 to be utilized for the BEST Project. It is determined that the interest of the District and the public interest and critical need necessity require the capital improvements as provided in the ballot question, all at a cost estimated at approximately $75 million.

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  • Yes - For the Measure

  • No - Against the Measure

1. This bond is necessary to allocate matching funds for BEST grants awarded for D70 in the 2020/2021 school year.

2. There is no current mill levy increase expected.
No opposition has been identified