Washington School bond issue passes

Posted 8/8/16

A no-tax-increase bond issue in the Washington School District passed by a landslide Tuesday. Voters in Franklin, Warren and St. Charles counties all approved the measure by a wide margin. In Warren …

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Washington School bond issue passes

Posted

A no-tax-increase bond issue in the Washington School District passed by a landslide Tuesday.Voters in Franklin, Warren and St. Charles counties all approved the measure by a wide margin. In Warren County the measure passed with 719 votes (71.97 percent) in favor and 254 opposed (25.43 percent).Voters in Franklin County approved the bond issue with 6,188 votes (76.66 percent) in favor and only 1,884 votes (23.34) opposed. The measure had similar success in St. Charles County with 363 votes (77.4 percent) in favor and only 106 opposed (22.6).The $15 million bond issue allows the district to convert $1.5 million in annual lease certificate payments currently being paid out of the capital projects fund to the debt service fund through general obligation bonds.By moving the existing debt, the district can levy fewer pennies in capital projects when it sets the tax levy in August and levy more pennies in the operations fund, which will significantly ease budget constraints.Since August 2015, the district has slashed about $3.5 million from its budget due to drops in assessed valuation and state aid. More cuts were planned had the bond issue failed.Approximately $13.6 million of the $15 million bonds issue will service the debt, while the balance, about $1.4 million, would be used to finance roof replacements, make some safety and security upgrades and do some minor classroom renovation.School bond


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