On Tuesday, August 27th District 93 patrons will be asked to vote on a school bond that will provide funding to build a new elementary school, construct additions at both Hillcrest and Bonneville High Schools, and make necessary improvements to other schools and facilities.

If approved, funds from the $42.7 million school bond can only be used for the projects listed on the ballot. Funds from school bonds cannot be used to pay employee salaries, other ongoing operational costs, or for any purpose not identified on the ballot. The District anticipates paying an interest rate of 2.93% on this bond, resulting in a total estimated cost of $59.2 million. The state is expected to contribute $11.6 million, resulting in a total net cost of $47.6 million to District 93 patrons. The school district will maintain the current levy rate to repay the bond. As the value of the District's tax base grows, the current levy rate will generate the necessary revenue to repay this bond. Based on the District's current tax base, patrons will pay about $92 annually for every $100,000 of their taxable assessed value if the bond is approved. However, the actual annual cost per $100,000 will be less as the District's tax base grows with the construction of new homes and businesses. If new bonds are never approved, the District's levy rate would eventually decrease.

More information about the August 27th Bond Proposal is available at www.d93bond.com