FALCON, COLO. -- Falcon School District 49 is dealing with overcrowding and has voted to put two issues on the November ballot - a bond issue and a mill levy.
The mill levy will go toward transportation costs and help retain teachers.
The $85 million bond issue will fund a new middle school, as well as expansions to both high schools and a middle school and the addition of a K-8 school.
If both issues are passed, it will cost voters about $3 for every $200,000 in home value.
The mill levy will end after six years, and the bond will last 25 years.
Mail-in ballots are due Nov. 1.
Below is the exact wording on the ballot.
BALLOT LANGUAGE:
Ballot Issue No. 3F
Override question
Shall Falcon School District No. 49 taxes be increased $5 million for collection in calendar year 2012 and by whatever amounts as may be collected annually thereafter commencing January 1, 2013 and terminating December 31, 2017, by imposition of a mill levy sufficient to generate an amount not greater than six percent of the district's total program funding, as determined under the Colorado public school finance act, as amended; and shall the proceeds of the tax increase be used for educational purposes, which may include but are not limited to:
- Attracting and retaining qualified teachers in order to improve student achievement;
- Keeping class sizes manageable to provide a quality education;
- Updating classroom technology to provide students with the resources they need to compete in today's job market;
- Providing up to a maximum of $600,000 per year to expand the current "fee for service" transportation program; and
Shall such tax increase be an additional property tax mill levy in excess of the levy authorized for the district's general fund, pursuant to and in accordance with section 22-54-108, C.R.S.; and shall the district be authorized to collect, retain and spend all revenues from such taxes and the earnings from the investment of such revenues as a voter approved revenue change and an exception to the limits which would otherwise apply under Article X, Section 20 of the Colorado constitution?
Ballot Issue No. 3G
Bond question:
Shall Falcon School District No. 49 debt be increased $85 million, with a repayment cost of up to $163 million, and shall district taxes be increased up to $10.4 million annually, for enlarging, improving, repairing or making additions to school buildings, for equipping or furnishing school buildings, for improving school grounds, or acquiring, constructing or improving any capital asset that the district is authorized by law to own, which improvements may include but are not limited to the following:
- Building a new elementary school near Falcon Middle School to relieve overcrowding;
- Remodeling Horizon Middle School to increase student capacity and building efficiency, improve student safety, and relieve overcrowding at Skyview Middle School;
- Constructing Phase II of Vista Ridge High School, including adding athletic facilities, and an auxiliary gymnasium;
- Expanding Vista Ridge High School to include a 400 student wing to relieve overcrowding;
- Expanding Falcon High School to include a 400 student wing to relieve overcrowding;
- Constructing, improving and equipping a new K-8 school in the western corridor to relieve overcrowding;
Such debt to be issued, either separately or together with financial assistance from the state's building excellent schools today ("best") Program for such purposes if such assistance is awarded to the district;
Such debt to be evidenced by the issuance of general obligation bonds, installment sale or lease purchase agreements, or other multiple fiscal year obligations which either may be sold to investors or issued to the state treasurer under the "best" program;
Such debt to be sold or issued in one series or more, for a price above or below the principal amount thereof, on terms and conditions, and with such maturities as permitted by law and as the district may determine, including provisions for redemption of the debt prior to maturity with or without payment of a premium;
And shall the mill levy be increased in any year, without limitation of rate and in an amount sufficient to pay the principal of, premium, if any, and interest on such debt or any refunding debt (or to create a reserve for such payment); and shall the district's debt limit be increased from an amount equal to 20% of the latest valuation for assessment of the taxable property in the district to an amount equal to 6% of the most recent determination of the actual value of the taxable property in the district, as certified by the county assessor to the board of county commissioners; and shall the district be authorized to issue
Debt to refund the debt authorized in this question, provided that after the issuance of such refunding debt the total outstanding principal amount of all debt issued pursuant to this question does not exceed the maximum principal amount set forth above, and provided further that all debt issued by the district pursuant to this question is issued on terms that do not exceed the repayment costs authorized in this question; and shall such tax revenues and the earnings from the investment of such bond proceeds and tax revenues be collected, retained and spent as a voter approved revenue change under Article X, Section 20 of the Colorado constitution or any other law?
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