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What will it support?

WhatwillthebondreferendumsupportNov17


What is a General Obligation Bond?

General Obligation (G.O.) Bond proceeds, which requires the approval of 60% of district residents during a special election, can be used for the purchase of land, construction of new facilities and renovation/improvement of existing facilities, school buildings and structures, and grounds and athletic facilities. Similar to how a home mortgage is financed over a number of years, G.O. Bonds are financed over a 20-year term per series of bonds. One project may include multiple series of bonds that are issued over consecutive years during the construction phase; thus, more than 20-years of taxation and bond repayment may be captured by issuing bonds in multiple series over multiple years. G.O. Bonds are typically used to fund major one-time infrastructure improvements that the PPEL levy (approved by district residents in 2015), and/or Sales Tax revenues cannot fully fund.

 


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