Bonding
Bonding for capital projects
The district has worked hard to
get out of debt.
As with a personal home mortgage, it is nice to
make the final payments on your obligations.
After many years of bonding through the growth
years, in 1996 the district paid off all of their debt and shifted the debt
service levies to the Capital Outlay Fund to pay cash for the new projects.
That has worked well for many years as we were
able to construct ten new schools and remodel several others.
The district has saved millions of dollars in
interest and been able to maintain one of the lowest tax rates along the
Wasatch Front.
However, with new growth, replacement needs
across the district and rapidly increasing building costs the district is
considering getting back into bonding in the future.
Before the district can sell bonds, it will be necessary
to hold a district-wide vote for authorization.
Asked at Cottonwood High School network meeting, October
17, 2007
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Go
for a bond to finance new schools and alleviate over crowding
Thank you for your suggestion and assumed support to sell bonds, even if it
means an increase in Granite’s property tax rate. The district has worked hard
to get out of debt. As with any personal mortgage, it is nice to save the
interest and pay-as-you-go. After many years of bonding through the growth
years, in 1996 the district paid off all of their debt and shifted the
debt-service levies to the capital outlay fund to pay cash for the new projects.
That has worked well for many years as we were able to construct ten new schools
and save millions of dollars of interest and still maintain one of the lowest
tax rates along the Wasatch Front. However, with new growth on the west side,
growing replacement needs across the district and rapid increase in building
costs, the district is currently looking at getting back into bonding.
Before the district could sell bonds, it would be necessary to hold a district
wide vote for authorization. That process has at times been questioned since we
have lost 10,000 students and should be closing a number of schools.
Asked at Skyline High School community meeting, January 16,
2008
Top
Would support a
bond to give many schools a face lift
Thank you for your suggestion and assumed support to sell bonds, even if it
means an increase in Granite’s property tax rate. The district has worked hard
to get out of debt. As with any personal mortgage, it is nice to save the
interest and pay-as-you-go. After many years of bonding through the growth
years, in 1996 the district paid off all of their debt and shifted the
debt-service levies to the capital outlay fund to pay cash for the new projects.
That has worked well for many years as we were able to construct ten new schools
and save millions of dollars of interest and still maintain one of the lowest
tax rates along the Wasatch Front. However, with new growth on the west side,
growing replacement needs across the district and rapid increase in building
costs, the district is currently looking at getting back into bonding.
Before the district could sell bonds, it would be necessary to hold a district
wide vote for authorization. That process has at times been questioned since we
have lost 10,000 students and should be closing a number of schools.
Asked at Skyline High School community meeting, January 16,
2008
Top