Eldon Schools Push for Proposition 1

1 decade 1 year 10 months ago Friday, November 03 2006 Nov 3, 2006 Friday, November 03, 2006 7:56:11 PM CST November 03, 2006 in News

Superintendent C. J. Huff said the upgrades will be easier to accomplish if Proposition 1, a $7 million bond issue, passes Nov. 7.

"We have to look at our facilities and, when you have $15 million of projects that need to be done and right now we can bond $7 million, we have to do something," he explained. "A bond is the way that we do that."

The proposition's $7 million is earmarked for building improvements, such as installing air conditioning and repairing roofs. Huff said the proposition will not raise taxes.

However, opponents worry about extending the district's debt. Voters passed the original bond in 1996, which was scheduled to be paid off in 2016. The district is paying off that bond faster than anticipated, perhaps by 2011. If Proposition 1 passes, the district probably won't pay off the total debt until 2023.

If the proposition passes, local investors will have the first chance to buy the bonds, then the district will complete the projects between December 2006 and August 2008.

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