Information about the upcoming bond election is now available
See the bond election facts sheet attached or visit the Bond Elections webpage.
WHAT'S ON THE BALLOT?
Registered voters living within the boundaries of the Pocatello/Chubbuck School District 25 are eligible to vote for or against the bond measure.
QUESTION: Shall the Board of Trustees of School District No. 25, Bannock County, State of Idaho (the "District"), be authorized to issue general obligation school bonds of said District in the principal amount of up to $45,000,000 for the purpose of financing the costs of (i) renovating and enhancing Highland High School, including (a) repairs to damaged facilities, (b) constructing additional classrooms, (c) expanding and enhancing the gym and activity space, (d) expanding and enhancing the auditorium, and (ii) expanding and constructing additions and improvements to the gym facility at Century High School, together with furnishings and equipment necessary to operate said facilities, and all costs and expenses related thereto, such bonds to become due in such installments as may be fixed by the Board, the final installment of such bonds to come due not later than fifteen (15) years from the date of issuance, all as provided in the Resolution adopted by the Board on September 12, 2023?
The interest rate anticipated on the proposed bond issue is 3.71% per annum. The total amount estimated to be repaid over the life of the bonds, based on the anticipated interest rate, is $42,497,957, consisting of $45,000,000 in principal and $14,057,750 of interest, less $16,559,793 in estimated bond levy equalization payments. The term of the bonds will not exceed fifteen (15) years from the date of issuance. The estimated average annual cost to the taxpayer on the proposed bond is a tax of $37 per $100,000 of taxable assessed value, per year, based on current conditions. However, the District expects to receive from the State of Idaho school district facilities funds in an amount each year that will exceed the annual payments on the bonds and must first be used to repay the District's bonds. Consequently, the actual estimated tax impact of the bond is $0 per $100,000 of taxable assessed value, per year, based on current conditions. As of November 7, 2023, the total existing bonded indebtedness of the District, including interest accrued, is $0.00.