$4.785 no-tax-increase bond issue goes to voters.

The Southern Boone school board made it official on Monday evening: A $4.785 million, no-tax-increase bond issue will be on the April 3 ballot.

If approved, the measure will build a new gymnasium at the Elementary School – similar to the one recently built at the Primary School – as well as an administration building near the Elementary School and a new softball/baseball facility just north of the high school.

The bonds will be sold as “premium” bonds with the goal of providing more revenue to the projects, according to Joe of the George K. Baaum & Company.

The district’s no-tax-increase bonding capactiy is $4.785 million, however, superintendent Chris Felmlee said previously that he hoped the sale of the bonds exceeded $6 million.

“When they sell the bonds, they will be able to market them at a premium in order to generate more revenue,” Felmlee said, “just like the last bond issue in which we had $7.5 million in bonding capacity and had $8 million in bond sales.”

~ Get more in today’s Journal ~

By Bruce Wallace