Bonds are voter-approved borrowing that can only be used for capital construction projects.
They generate up-front dollars, which are repaid with interest through a property tax over time. Put simply, bonds build classrooms. These dollars fund improvements to our school buildings.
Jeffco currently has approximately $1.3 billion in facility needs.
The district last passed a major bond for facility improvements in 2004 ($323.8 million). Then, in 2012, Jeffco passed a $99 million bond for "warm, safe, and dry" projects.
In 2016 the $535 million bond ballot issue did not pass. That same year, Denver Public Schools (the district nearest Jeffco of similar size) passed a $572 million bond that is currently being used to renovate and improve their schools.
|
|
Since the average age of our buildings is now nearly 50 years, there are a lot of needs in Jeffco we will have to consider. Our Board of Education has approved a $567 million bond ballot initiative that benefits all schools, makes major renovations to high schools built before 1980, expands career and technical education sites, accommodates growth with additions and new schools, and much more.