Weber School District $97 Million Bond: A Breakdown of Where the Dollars Will Go

Tuesday, October 3, 2017 - 1:45pm
Tami L. Johnson

On November 7th, Weber County residents will have the opportunity to vote on the Weber School District $97 million-dollar bond. The Board expects to issue the bonds over the next 4 years. We are told there will be NO PROPERTY TAX RATE INCREASE for the Weber County homeowners and businesses.  These bonds will be repaid over the course of 21 years.  The money from the bonds will be used towards building new schools, rebuilding existing schools, building additions and for furnishing and equipping schools.  Plus, acquiring land for future schools, if necessary. There will be no bond money used for employee salaries.

This Bond entails two Phases:

PHASE 1: Projected to begin in February 2018

This phase includes a 12-classroom addition at Fremont High

*Start date: February 2018

* Completion date: August 2018

*Cost $5 million 

New Elementary in Farr West (Remuda)

*Start date: March 2018

*Completion date: August 2019

*Cost $22 million

New Elementary in Pleasant View

*Start date: May 2018

*Completion date: August 2019

*Cost $22 million

PHASE 2: Projected to begin in March, 2019

Rebuild of Roy Junior High

*Start date: March 2019

*Completion Date: August 2021

*Cost $38 million

Expansion of Weber Innovation High

*Start date: March 2019

* Completion date: August 2020

*Cost $10 million

Weber School District is paying off existing bonds used for previous construction projects.  If these new bonds are not issued, the property taxes needed to payoff existing bonds could decrease.  Approval of these new bonds will keep the tax rate from Weber School District at its current level, for the same cost as what you’re currently paying. This allows us to meet the needs of our students in an ever-growing district.

How does Weber School District issue a $97 million dollar bond and keep the tax rate the same?

*Growth and increase in assessed property values from homes and businesses

*Pay-off and refinance existing bonds

*High grade Aa2 credit rating allows us to borrow money at low interest rates

*Issuing new bonds in layers to keep our debt ratio low.

If you are interested in hearing more about the bond, please visit one of the Weber County schools on these dates:

Monday Sept. 25th

7:45 a.m. Washington Terrace Elementary

Tuesday Sept. 26th

7:45 a.m. Lakeview Elementary

3:30 Majestic Elementary

Wednesday September 27th

3:30 p.m. Valley View Elementary

Thursday September 28th

3:30 p.m. Municipal Elementary

Friday September 29th

7:45 a.m. H. Guy Child Elementary

3:30 p.m. North Ogden Elementary

Monday, October 2nd

7:45 a.m. Uintah Elementary

2:45 p.m. T.H. Bell Jr. High

Tuesday October 3rd

7:45 a.m. Plain City Elementary

2:45 Fremont High

 

Wednesday, October 4th

7:45 a.m. Riverdale Elementary

2:45 p.m. South Ogden Jr. High

Thursday October 5th

7:45 a.m. Roosevelt Elementary

3:30 Lomond View Elementary

Friday October 6th

7:45 a.m. Green Acres Elementary

3:30 Freedom Elementary

Monday October 9th

7:45 a.m. North Park Elementary

2:45 Weber Innovation High

Tuesday October 10th

7:45 a.m. West Weber Elementary

2:45 p.m. Two Rivers High