May referendum on Region 12 will ask for bonding
WASHINGTON -- Along with the school budget referendum on May 4, residents of the three towns in the Region 12 school district will be asked to approve bonding for repairs to the district's three elementary schools.
Bond counsel has advised the Board of Education that bonding can be achieved for the bulk of the work. Originally, there was concern that only half of the projects could be bonded.
At it's March 1 regular meeting, the school board will determine an amount to bond. It will be at least $1.9 million, plus an additional 10 to 15 percent for the cost of a clerk of the works to oversee the projects. The bond would be for 10 years. Any shortfall would be covered by funds already available in the district's operating budget.
"If approved, the bond should be budget neutral," said Valerie Andersen, board treasurer. "We have debt now that is falling off in 2013. The payment schedule on this bonding should have minimal effect on our budget."
-- Susan Tuz