According to an update from the School District of Jefferson, voters will see two referendum questions on their November ballot. The first question will ask voters to vote in favor or against $34 million to address facility maintenance at all five schools, enhance safety and security, renovate learning environments, classrooms, and restrooms at East Elementary School, and renovate and expand the High School agriculture and technical education classrooms and labs.
The second question will ask voters to vote in favor or against $8 million to build an outdoor athletic complex on district-owned land that would include competition and practice soccer and softball fields as well as restrooms, a concessions building, dugouts, bleachers, and parking.
The estimated financing plan for the two referendum’s assumes two bond issues repaid over 20 years each. The average borrowing interest rate is 4.75%, the estimated state aid reimbursement is 9.60%, and the Mill Rate impact is based on the current 2021 Equalized Valuation of $1,214,357,408 with annual growth of 13.00% in 2022 and 1.00% thereafter. The Mill Rate impact represents the estimated change over the 2021-22 mill rate for debt payments above the revenue limit of $2.59. Planning estimates only. Significant changes in market conditions will require adjustments to the current financing plan.
To learn more, visit https://www.sdoj.org/district/referendum-2022.cfm.
Comments