What will the costs be for Phase II and Phase III?
The long range financing plan developed for the District will make it possible to fund another general obligation bond for Phase II in 2012 to be followed by a general obligation bond issue in 2018 for Phase III if the student enrollment warrants additional building space without requiring any additional increase in the debt service fund levy. By structuring the initial Phase I bond issue in this manner, the District will save more than $3,000,000 of interest expense and will recover enough bonding capacity by 2012 to permit the bond issue to be presented to the voters.
