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New Falls City school could cost taxpayers $39.5M
Falls City Independent School District Superintendent Tylor Chaplin (standing) explains the potential property-tax impact of a proposed bond sale during the Feb. 19 board of trustees meeting.
FALLS CITY -- The board of trustees for the Falls City Independent School District (ISD) is set to vote Wednesday, Feb. 26, on whether to take the next step toward an aggressive capital improvement campaign estimated to cost $39.5 million. At that meeting, the board will consider and act upon a proposal to call for a bond election May 10.
The board, at its Feb. 19 meeting, heard a presentation from Falls City ISD’s bond-steering committee. Its recommendation is to construct a new, 124,000- square-foot kindergarten through 12th-grade building across the street from the district’s current campus on North Nelson Street. The target is to move into the new building in January 2016.
Once that occurs, Superintendent Tylor Chaplin said the current school building would be demolished and a new athletic complex -- including a football stadium, baseball fields, and more -- would be built in its place.
If voters approve the bonds, the funds would be repaid over a period of 25 years, said financial advisor Dusty Traylor of RBC Capital Markets. He projects an interest rate of 4-1/2 to 5 percent.
Traylor said that a home valued at $50,000, on which the property owner has a homestead exemption, would see a tax bill increase $112.32 per year. The annual increase would be $272.77 for a $100,000 home.
The district’s current property-tax rate is $1.1114 per $100 of taxable property value, which includes $1.04 for maintenance and operations, with the remaining 7.14 cents being levied for debt service. The debt-service portion of the rate, if voters approve the bond sale, would increase to 32.09 cents.
Also related to the May election, voters will choose three candidates to fill at-large board seats. Incumbents up for re-election include:
In attendance: Board members Raymond Dziuk, Alfie Kowalik, Eddie Bordovsky, Mindy Jendrusch, Jerry Jendrusch, Marlon Moczygemba, and Patrick Jarzombek; Superintendent Tylor Chaplin, Falls City High School Principal Christy Blocker, Luther Thomas Elementary School Principal Phillip Zwicke; bond steering committee members John Pruski, Charnel Ehlers, and Michelle Jaskinia.
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