Proposition Farmington Schools - 2019 Bond Issue » Bond Issue Overview

Bond Issue Overview

Exhibit A

Proposition Farmington Schools

Shall the Board of Education of the Farmington R-7 School District, Missouri, without an estimated increase in the current debt service property tax levy, borrow money in the amount of Sixteen Million Dollars ($16,000,000) for the purpose of improving student safety and completing instructional facilities upgrades to include, without limitation, the site development, construction, equipping, and furnishing of a new library addition at Jefferson Elementary; to complete internal renovation and equipping of spaces at the Farmington Middle School, Jefferson Elementary, Farmington High School; to complete internal and external renovations at Truman Auditorium to meet American with Disabilities Act (A.D.A.) guidelines; renovations at the Farmington High School stadium including track replacement to meet A.D.A. guidelines and construction of a multi use building; to purchase new buses; to acquire a local education building and demolition of current storage building; to prepay existing lease financings for land acquisition; to repair and replace roofs as necessary; to complete upgrades to the heating, ventilation, and air conditioning (HVAC) systems; to install and activate safety and security system upgrades along with modifying front entrances at all buildings as necessary; to upgrade district technology, fiber optic communications; and kitchen equipment; to the extent funds are available, to resurface and expand selected parking lots; and issue bonds for the payment thereof? If this proposition is approved, the debt service levy of the School District is expected to remain unchanged at $0.90 per one hundred dollars of assessed valuation of real and personal property.



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