Simply put, a bond is much like a personal home loan, and is a way for government entities, such as school districts, to borrow money for large projects and repay them with future tax proceeds. An individual generally approaches a financial institution for a mortgage because they don’t have the means to pay for their home with one large initial payment. Affton School District doesn’t have the ability to pay for $25 million worth of projects either, so it approaches voters asking them to consider a proposed bond by holding what is known as a “bond election.”
Prop N will restructure existing capital lease debt, adding $1.6 million to the district’s general operating fund, and provide $10-12 million to continue capital improvements to district schools and learning spaces. Projects were prioritized by the district’s Buildings and Grounds Committee following a year-long facilities audit. The plans will:
- Renovate classrooms to 21st Century standards throughout the district,
- Improve safety and security in every building throughout the district,
- Implement Capital Improvement Plan renovations at Gotsch Intermediate, to include a secure entry, a new gymnasium and eight new classrooms, ADA improvements, and cafeteria renovation,
- Implement Capital Improvement Plan renovations at Rogers Middle School, to include a secure entry, two new classrooms, ADA improvements, and
- Implement Capital Improvement Plan renovations at Affton High School, to include locker room restoration and renovation.