- Vote Tuesday, Nov. 5, 2013
- Polls open from 7 a.m. to 8 p.m.
- Voting locations can be found at https://secure.slco.org/clerk/elections
The Jordan School District Board of Education voted unanimously on Aug. 6 to adopt a resolution to place a $495 million dollar bond on the November ballot. The decision to bond came after a comprehensive growth study, a district-wide survey and months of discussion, town hall meetings and public input. The Board is bonding because:
- Jordan District expects 29,000 new students in the next 10 years.
- Additional schools are necessary to accommodate the student growth.
- Safely housing students is the top priority.
- A bond is the most cost effective method of financing the proposed facilities.
- The District is committed to taxpayer transparency and accountability.
- Board members want quality educational opportunities for all students.
Why is the District bonding for $495 million?
Jordan District is experiencing unprecedented growth in our student population and a tremendous need for additional schools. General obligation bonds carry the lowest possible interest rates and are the least costly form of financing available. Voter authorization is required before the District may issue general obligation bonds. In addition, the current construction climate is favorable and interest rates are low.
How much will the bond cost me?
Bond costs (if authorized) will vary each year, depending on when the bonds are sold. At its maximum, the bond will cost a homeowner $10 per $100,000 of home value each month. An average home in Jordan School District is valued at approximately $248,000. The most the bond will cost the average home is $25 per month (or $300 per year), while a business of the same value will pay $45.50 per month (or $546 per year).
Why doesn’t the District charge impact fees on new homes?
The 1995 legislature made it illegal for school districts to impose impact fees. See Utah State Code §53A-20-100.5.
How can the bond money be used?
Bond money can only be used for expenditures specifically stated in the bond proposition: purchasing property for new schools, constructing and furnishing buildings, plus renovations on existing property. Bond money cannot be spent on salaries or other ongoing operational expenses.
Is there a project list for how the bond money will be used?
Yes. A comprehensive list can be viewed at www.jordanbond.org/priorities/. Here’s a summary of how the bond will be used:
- 8 new elementary schools
- 2 new middle schools
- 1 new high school
- 1 reconstructed elementary school (West Jordan Elementary)
- 1 reconstructed middle school (West Jordan Middle)
- Property needed to build schools until 2018
- Numerous district-wide renovation projects for student safety
- Air conditioning for those schools without it
The actual language that will appear on the ballot for the bond will read as follows:
Shall the Board of Education of Jordan School District, Salt Lake County, Utah, be authorized to issue general obligation bonds in an amount not to exceed $495,000,000 and to mature in no more than twenty-one (21) years from the date or dates of issuance of such bonds for the purpose of raising money for acquiring and constructing school buildings and facilities, acquiring land for school buildings and facilities, acquiring furnishings and remodeling and updating existing school property, including seismic upgrades, under the charge of the Board of Education, and, to the extent necessary, for providing moneys for the refunding, at or prior to the maturity thereof, of general obligation bonds of the Board authorized hereunder or heretofore issued and now outstanding?
PROPERTY TAX COST OF BONDS
If the bonds are issued as planned, an annual property tax to pay debt service on the bonds will be required over a period of 15 years in the estimated amount of $300 on a $248,000 residence, and in the estimated amount of $546 on a business property having the same value.
The Board currently has outstanding bonds. An otherwise scheduled tax decrease may not occur if these bonds are issued.
The foregoing is only an estimate and is not a limit on the amount of taxes that the governing body may be required to levy in order to pay debt service on the bonds. The governing body is obligated to levy taxes to the extent provided by law in order to pay the bonds.