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Colorado Springs School District 11 · 4A · El Paso County

Up to $775 million in bonds (repayment up to $1.48 billion) for building improvements, repaid by up to $49.8 million a year in property tax

Official ballot wording

SHALL COLORADO SPRINGS SCHOOL DISTRICT 11 DEBT BE INCREASED $775 MILLION, WITH A REPAYMENT COST OF NOT TO EXCEED $1.48 BILLION, AND SHALL DISTRICT TAXES BE INCREASED NOT MORE THAN $49.8 MILLION ANNUALLY TO PAY SUCH DEBT, ALL FOR THE PURPOSE OF PROVIDING CAPITAL IMPROVEMENTS FOR DISTRICT PURPOSES, INCLUDING BUT NOT LIMITED TO: • • • • • • ATTRACTING AND RETAINING HIGH-QUALITY TEACHERS BY INCREASING SALARIES WITH MONEY SAVED BY ACQUIRING ENCUMBERED FACILITIES THROUGH EXERCISING THE DISTRICT'S OPTION TO PREPAY ANY LEASE PURCHASE FINANCINGS; RENOVATING CAREER AND TECHNICAL EDUCATION FACILITIES THAT PREPARE STUDENTS FOR JOBS IN HEALTHCARE, ENGINEERING, SKILLED TRADES, AND TECHNOLOGY; REMOVING HAZARDOUS MATERIALS, INCLUDING ASBESTOS AND LEAD PIPES; INSTALLING MODERN COOLING, HEATING, AND AIR-FILTRATION SYSTEMS IN DISTRICT SCHOOLS; IMPROVING SCHOOL AND STUDENT SAFETY AND SECURITY; RENOVATING ALL DISTRICT SCHOOLS INCLUDING SIGNIFICANT RENOVATIONS TO DOHERTY, CORONADO, MITCHELL, AND PALMER HIGH SCHOOLS; AND SHALL THE EXPENDITURES BE MONITORED BY AN INDEPENDENT BOARD-APPOINTED CITIZENS’ OVERSIGHT COMMITTEE TO REVIEW AND CONFIRM THAT ALL FUNDS ARE USED ONLY FOR VOTER APPROVED PROJECTS, WITH NO MONEY GOING TO ADMINISTRATOR SALARIES; AND FOR ACQUIRING, CONSTRUCTING OR IMPROVING ANY CAPITAL ASSETS AUTHORIZED BY LAW; AND SHALL THE MILL LEVY BE IMPOSED IN ANY YEAR WITHOUT LIMITATION AS TO RATE BUT ONLY IN AN AMOUNT SUFFICIENT TO PAY THE PRINCIPAL, PREMIUM, AND INTEREST ON SUCH DEBT OR ANY REFUNDING DEBT (OR TO CREATE A RESERVE FOR SUCH PAYMENT); SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF GENERAL OBLIGATION BONDS TO BE SOLD IN ONE SERIES OR MORE, FOR A PRICE ABOVE OR BELOW THE PRINCIPAL AMOUNT OF SUCH SERIES, ON TERMS AND CONDITIONS AND WITH SUCH MATURITIES AS PERMITTED BY LAW, INCLUDING PROVISIONS FOR REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF THE PREMIUM; AND SHALL THE REVENUES FROM SUCH DEBT AND TAXES AND ANY EARNINGS FROM THE INVESTMENT THEREOF BE COLLECTED AND SPENT AS A VOTER APPROVED REVENUE CHANGE UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION AND ANY OTHER LAW?

Official sources