PROPOSITION 1: TIGER UPGRADES
Bond Proposal -
NO Tax Increase Bond
Restructuring Bonds - Provides $400,000 for the following:
- Roof and Guttering Repair
- Brick and Masonry Repair and Sealant
- Replacement of Exterior Doors
- Parking Lot Repair and Sealant
- HVAC Updates and Maintenance
- Technology Updates (Cameras, Bus Cameras/GPS, and Computers)
Frequently Asked Questions:
Bond Issue Questions
Q: What is the ballot language used for the bond issue?
A: Shall Hurley R-I School District of Stone County, Missouri issue its general obligation bonds in the amount of $400,000 for the purpose of constructing, improving, repairing, renovating, furnishing and equipping school facilities, including safety, security and technology improvements throughout the District and repairing and replacing roofs and HVAC units at District facilities?
If this question is approved, the District’s debt service property tax levy is estimated to remain unchanged at $0.6666 per one hundred dollars of assessed valuation of real and personal property.
Q: What is a bond issue?
A: A bond issue is a way to borrow money to fund "bricks and mortar" capital needs projects, such as schools and classrooms, as well as technology. This requires voter approval. Capital projects may also include safety and technology equipment, as well as major building repairs (heating/cooling, roofs, parking lots and playgrounds).
Q: Where does the money come from to pay for them?
A: When the voters pass/approve the bond issue, general obligation bonds are sold to investors who bid the lowest interest costs. The proceeds from the sale are used to finance the projects. The district will use the current 67 cent levy to make annual payments for the current debt, as well as the bonds from the current issue.
Q: Will my tax rate increase, if approved by voters?
A: No, PROPOSITION 1: TIGER UPGRADES will not alter the current tax rate. Hurley has been aggressive in paying off its debt which will remain well under the statutory limit. We will continue to structure our bond indebtedness in a responsible manner which allows us to drastically reduce our debt while maintaining a plan to ultimately move to a dedicated levy in the coming years.
If this proposition is approved, the current adjusted debt service levy of the district will remain unchanged at sixty-eight cents ($0.67) per one hundred dollars assessed valuation of real and personal property.
Q: Will my tax rate decrease, if not approved by voters?
A: No, your taxes will not decrease if Proposition 1: Tiger Upgrades is not approved by voters.
Q: Why will there not be an impact to the current tax rate?
A: The district is authorized to assess a tax rate sufficient to pay the principal on maturing bonds and related interest cost. The district currently assesses a rate of 67 cents.
Each year the district pays off a portion of the debt and, in most years, assessed valuation increases the amount of taxes generated by the 67 cents. This allows the district to incur additional debt without increasing the tax rate.
Q: Could you clarify the "no-tax increase" language in the ballot language and the impact on property taxes should the bond be approved and the impact on property taxes should the bond fail?
A: If the bond passes, the district will be able to complete the projects listed (total value: $400,000) without having to increase the district property tax levy. Should the bond fail, these projects will not be completed and the district levy will not be affected. Regardless of this bond issue, if by some rare and unanticipated occurrence the County significantly decreases the assessed valuation of properties within the school district, the district might be required to increase its debt service property tax levy to ensure that all financial obligations are satisfied in accordance with State law.
Q: Why did the school board vote to put the bond issue on the ballot?
A: The necessary upkeep to district facilities is substantial in costs. In an effort to repair and maintain district facilities without impacting money normally used for student instructional tools, teacher employment, and daily expenses, the district needs additional funds to maintain and repair big items.
- ROOF AND GUTTERING REPAIR - The district's roof and gutters are in need of major repairs. The roof will be resealed and leaks repaired, as well as, guttering replaced and/or repaired.
- MASONRY/BRICK REPAIRS - The exterior of the building will be cleaned removed all debris and growth. Damaged bricks will be replaced and then the brick will be resealed to create a moisture barrier.
- REPLACEMENT OF EXTERIOR DOORS - The external doors are sticking and difficult to open as students exit the building.
- PARKING LOT REPAIR & SEALANT - Parking lot repairs are needed as a result of plumbing repairs, flood damage, and deterioration. In addition to the asphalt repairs we need to reseal the asphalt as a part of maintenance adding to the longevity of our parking lot and roadways.
- HVAC UPDATES & REPAIRS - The majority of our units are 20+ years and the district continues to have big expenses in repairing classroom units. Thermostats, fans, and compressors need to be replaced to prevent cold or boiling hot classrooms. In addition, the district's ground source heat pump needs maintenance to keep functioning but it comes with a large price tag. This bond issue will not replace every unit but it will replace the malfunctioning units and begin the rotation of replacing units.
- TECHNOLOGY & SECURITY UPDATES -
- Security cameras and secure entryways need updated software and cameras to provide a secure environment for students. In addition, our buses will be equipped with new cameras and gps systems.
- Our current computer labs are outdated and have quit working. The computers are quitting and working computers cannot update to Windows 10 to function properly for students. We need the computers for student work, research, dual credit classes, and state testing. Chromebooks used in elementary classrooms are missing keys and not working.
Q: What would the timeline be for the proposed projects?
A: Projects would begin as soon as the bond passes and all projects should be finished in two years with some being finished by the start of the 2019-20 school year.
Q: Who do I contact with questions?
A: Dr. Allison Murphy-Pope, Superintendent of Schools, is the contact for bond issue questions. Her email is email@example.com or call 417-369-3271.