Ordinance 3010-07 - Laserfiche WebLink

Planned Improvements Funding for the proposed elementary school and the additional high school capacity planned for occupancy in 2010 will require the passage of a bond issue. The new elementary facility will likely be constructed at the site of the current Lake Stickney where ECEAP and the District's Curriculum and Professional Development Department currently reside. The high school capacity is currently planned as an addition to Kamiak High School but a number of other options are also under consideration. The plan also provides for the purchase of additional property for future schools. While the school sites will likely be in the North end of the District, no specific sites have been identified at the writing of this Plan. In the event that planned construction projects do not fully address space needs for student growth and a reduction in interim student housing, the Board could consider various courses of action, including, but not limited to: • alternative scheduling options; • changes in the instructional model; • grade configuration change; • purchasing portable classrooms; • increased class sizes; or • modified school calendar. Funding for planned improvements is typically secured from a number of sources including voter approved bonds, state match funds and impact fees. Each of these funding sources is discussed in greater detail below. Financing for Planned Improvements General Obligation Bonds Bonds are typically used to fund construction of new schools and other capital improvement projects. A 60% voter approval is required to approve the issuance of bonds. Bonds are then retired through collection of property taxes. Capital Projects Levy The District has passed a six-year capital projects levy that runs through 2008. All funds collected to date have been utilized. Capital project levy dollars will be dedicated to additional modernization and major maintenance of buildings and grounds as well as the upgrading of the District's technology infrastructure. State Match Funds State Match Funds come from the Common School Construction Fund. Bonds are sold on behalf of the fund, and then retired from revenues accruing predominantly from the sale of renewable resources (i.e., timber) from State school lands set aside by the Enabling Act of 1889. If these sources are insufficient to meet needs, the Legislature can appropriate funds or OSPI can establish a moratorium on certain projects. School districts may qualify for State match funds 17