Bond vote will be in 2013
Because of recently passed laws by the State Legislature, the bond election that would have been in 2012 will be moved to 2013, said Chris Cochran, who represents Bank of Oklahoma as the district’s bond adviser.
“Timing is important,” Cochran added, “two dates to consider would be January or February of 2013.”
Cochran suggested the February date as it presses construction time as far as it can. He also suggested rather than a one-year bond election to place bonding needs for 2013 and 2014 in the same bond issue.
“Many other school districts do this, and the $20,000 to $25,000 in election costs spent each election could be used for educational purposes,” Cochran said.
Cochran, who has been working with the district for 10 years, said millage has been kept at 24 1/2 mills for the past five years because of the tax base and interest rates.
“We strive to keep millage rate steady between 24 and 25 mills,” Towne said.
At this time board members are considering holding the election for Edmond School District Seat 3, currently held by Jamie Underwood, school board president, until the bond election. Normally the election is in December.
“If this happens there could also be an additional savings,” Towne said.
“In the 130 square miles of the district, as much undeveloped as well as developed land exists,” said Superintendent David Goin. “With this next bond issue we are catching up. With continued growth we anticipate it (the addition of new schools) is going to continue. We have a good track record for budgeting well.”
The passage of the $12.2 million in General Obligation Building Bonds, left over from the bond issue passed in November 2011, is paying for Boulevard Academy renovation as well as construction at Angie Debo Elementary and additions at Washington Irving and Centennial elementary schools, and is scheduled to be completed by August of 2013.