Hillsboro School District - Community Input on Facility Priorities PROP KIDS - "REINVEST, REINFORCE, REIMAGINE" |
The Hillsboro R-III School District is asking voters for approval to utilize the portion of the current tax revenue that is solely designated to repay bonds. The levy will be extended, but your school taxes will not be increased.
How does a bond issue work?
When voters approve a bond issue, Hillsboro R-III obtains bids and sells bonds to the purchaser who offers the lowest interest rate. The district uses the funds to complete the capital projects and pays back the debt over time. (This bond issue will only extend the District’s current debt by a maximum of 8 years.)
This process is similar to refinancing a home loan. When you purchase a home, you borrow money at a specific interest rate. You make payments on that loan, which include principal and interest, over a period of years. A certain amount of your regular income is budgeted to make those payments.
Bond issues allow schools to pay for new developments, costly repairs, and renovation over time instead of having to pay all at once. They also allow schools to devote most of their day-to-day operating budgets to classroom instruction instead of major repair work.
The projects are put into three main categories:
REINVEST - improvements to current facilities
REINFORCE - safety and security
REIMAGINE - new construction projects
We are asking you to take this short survey so we may determine the school community’s priorities on what should be addressed in each category.
We are asking you to take this short survey so we may determine the school community’s priorities on what should be addressed in each category.