What's next with the remaining bond funds?
Voters approved a $75 million school bond issue in November 2008 for three major projects.
Expand Mill Valley High School to accommodate 1,450 students (complete)
Construct Belmont Elementary (complete)
Expand De Soto High School to accommodate 1,000 students
In December 2009, the Board of Education divided the De Soto High School expansion project into three phases as the result of severe economic conditions and a slowdown in student enrollment. Separating the DHS project into phases (two of which have been completed) has allowed the board to lessen the property tax impact on homeowners and address immediate programming needs. Currently, USD 232 has called $52 million of the $75 million of authority approved by patrons. The program capacity at DHS has increased to 830 students following the completion of the first two phases. The third and final phase is on hold.
Remaining Bond Authority is $23 million
As mentioned above, the board has called $52 million of the original $75 million bond issue. As a result, the district has $23 million in bond authority for which bonds have not been issued. Until more bonds are issued, the district cannot initiate the third and final phase of construction at De Soto High School. In an effort to protect homeowners from an additional mill levy increase (dedicated to bond payments), the board will be strategic with the issuance of additional bonds.
2008 Bond Issue to date
Mill Valley High School Expansion Project = $19,329,852
Belmont Elementary School = $16,890,939
De Soto High School Expansion Project
Security Video System, all schools and facilities = $1,078,432
Monticello Trails Middle School
Total = $52,000,000