The District has received one (1) comment FOR the Bond Issue. La Veta School District will present electors a question to increase tax for facilities construction purposes, if and only if the District is awarded a BEST capital construction grant from the State.
Also included on this page below you will find 1) ballot question, 2) TABOR notice.
SHALL LA VETA SCHOOL DISTRICT RE-2 DEBT BE INCREASED BY UP TO $5.5 MILLION, WITH A REPAYMENT COST OF UP TO $8,750,000, AND SHALL DISTRICT TAXES BE INCREASED BY UP TO $458,000 ANNUALLY BY THE ISSUANCE AND PAYMENT OF GENERAL OBLIGATION BONDS TO PROVIDE LOCAL MATCHING MONEY REQUIRED FOR THE DISTRICT TO RECEIVE APPROXIMATELY $42,000,000 IN STATE GRANT FUNDS (WHICH ARE NOT REQUIRED TO BE REPAID) UNDER THE BUILDING EXCELLENT SCHOOLS TODAY (“BEST”) PROGRAM TO FINANCE THE COSTS OF:
PROVIDED, HOWEVER, THAT NO DEBT SHALL BE ISSUED UNLESS A BEST GRANT IS RECEIVED;
WITH SUCH GENERAL OBLIGATION BONDS TO BEAR INTEREST, MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM OF NOT MORE THAN THREE PERCENT, AND BE ISSUED AT SUCH TIME, AT SUCH PRICE (AT, ABOVE OR BELOW PAR) AND IN SUCH MANNER AND CONTAINING SUCH TERMS, NOT INCONSISTENT WITH THIS BALLOT ISSUE, AS THE BOARD OF EDUCATION MAY DETERMINE, AND SHALL AD VALOREM PROPERTY TAXES BE LEVIED WITHOUT LIMIT AS TO THE MILL RATE TO GENERATE AN AMOUNT SUFFICIENT IN EACH YEAR TO PAY THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT AND TO FUND ANY RESERVES FOR THE PAYMENT THEREOF, PROVIDED THAT ANY REVENUE PRODUCED BY SUCH MILL LEVY SHALL NOT EXCEED $458,000 ANNUALLY?
Total District Fiscal Year Spending Fiscal Year 2018-2019 (estimated) $ 3,696,000 (Estimate) 2017-2018 (actual) $ 3,416,340 (Unaudited) 2016-2017 (actual) $ 3,231,726 (Audited) 2015-2016 (actual) $ 3,633,904 (Audited) 2014-2015 (actual) $ 3,180,204 (Audited) Overall percentage change from 2014-15 to 2018-19: 16.2 % (Increase) Overall dollar change from 2014-15 to 2018-19: $ 515,796 Proposed Tax Increase District Estimate of the Maximum Dollar Amount of the Proposed Tax Increase For Fiscal Year 2019-2020 (the First Full Fiscal Year of the Proposed Tax Increase): BALLOT ISSUE NO. 4A: $ 458,000 District Estimate of 2019-20 Fiscal Year Spending Without Proposed Tax Increase: $ 4,196,600 * *This number is an estimate only and assumes the passage of Amendment 73, which will be considered by the voters of the State on November 6, 2018, and is based on information and projections received by the District from other sources. Information on District’s Proposed Debt BALLOT ISSUE NO. 4A: Principal Amount of Proposed Bonds: Not to exceed $ 5,500,000 Maximum Annual District Repayment Cost: Not to exceed $ 458,000 Total District Repayment Cost: Not to exceed $ 8,750,000 Information on District’s Current Debt ** Principal Amount Outstanding Debt: $ 350,000 Maximum Annual Repayment Cost: $ 82,500 Remaining Total Repayment Cost: $ 395,250 **Excluded from debt are enterprise and annual appropriation obligations.
Summary of Written Comments FOR Ballot Issue No. 4A:
The La Veta School District needs updated facilities to support and sustain quality educational programming.
If this bond is passed, the community’s investment of $5.5 million can be matched with a BEST grant from the state and will result in an estimated $42 million new pre-K through 12 school for La Veta. The district will apply for a BEST Grant from the Colorado Capital Construction Assistance Fund in February 2019. Successful passage of a bond demonstrates community support and improves chances of obtaining the grant. To use awarded BEST grant money the community must pass a bond.
The bond will be funded via a property tax increase of about $90 per year for each $100,000 of property value. HOWEVER, the tax will ONLY be collected IF the district is successful in obtaining a BEST grant.
The existing La Veta School District facilities are severely deficient. They do not meet current building code or safety standards. The infrastructure is outdated and unreliable. Current buildings need new doors, windows, ceilings, and floors; updated heating controls; newer electrical, plumbing, and ventilation systems; and insulation. Safety concerns exist as a result of uncontrolled access to buildings and classrooms. A comprehensive study found that to bring the existing campus up to standards would cost the local community over $10 million, would not solve all the safety issues nor would it begin to provide La Veta students opportunities for improved programming that new facilities support.
La Veta students need spaces that are safe, secure, and healthy, that easily incorporate technology and promote a collaborative work environment. There are particular needs for improvements in lab-based classes such as art, agriculture, music, science, and technical education. The district needs to unify its campus and provide athletic facilities that are safe and comfortable for participants and spectators and invite students to compete at high levels. High quality teachers are the most important factor in student success, and high-quality facilities will help ensure that the La Veta School District retains and recruits the very best educators to teach La Veta students.
Passing this bond will have additional positive impacts on the community. Constructing a new school will boost the economy and encourage families to remain in the area or to consider La Veta as a future home. Several of the existing school buildings will be re-purposed to the benefit of the entire community.
A $5.5 million bond, partnered with a state funded BEST grant results in a $42 million new state-of-the-art school which will serve our community for 50 years and will cost taxpayers only $7.49 a month per $100,000 of actual home value. The La Veta community would be much better served with a new school than in attempting to update the existing campus which will ultimately cost twice as much in local taxpayer money, have only a 20-year life span and not give La Veta’s children the school they deserve.
Passing this bond is an investment in the future of our students and in the La Veta community.
Summary of Written Comments AGAINST Ballot Issue No. 4A:
No comments were filed by the constitutional deadline.