Republic R-3 to put $16 million bond issue on ballot

No-tax-rate-increase bond would continue for 20 years for district taxpayers
 
The Republic R-3 Board of Education voted to place a $16 million bond issue on the ballot this spring, during their Thursday, Jan. 21 meeting. The district will be asking the voters to approve borrowing $16 million for the purposes of building a new Early Childhood Center with an attached high-wind shelter on land owned by the district at the corner of Hines and Hampton; building a gymnasium and high-wind shelter for Schofield Elementary (Schofield is the only school in the district without a gymnasium); and to purchase property on which to build a new school building in the next four or five years.
No tax rate increase
The bond would require no change in the current tax levy of $.94 per $100 of assessed value. Dr. Matt Pearce, superintendent of schools, said this is because school districts in Missouri are allowed to borrow up to 15-percent of their assessed value.
“We have used our funds efficiently,” he said, “and we have room with which we can add bonding capacity, (so) we can keep the tax rate the same, and pay back the debt. You have a limit you can (borrow), and we won’t push our limit to the maximum. We’ll still have about $10 million left, but every year, when you pay back your debt, then your bonding capacity increases.”
If the voters choose not to pass the ballot issues, Pearce said, it would seriously hamper the district’s ability to serve preschool-age children.
“If the bond issue does not pass, with our current growth, we are going to squeeze out all preschool education, and we’ll only be able to offer early childhood special education,” he said. “So, we will probably end up having no preschool if the bond issue does not pass.”
Pearce also said passing the bond would be especially beneficial for the students overall.
“For a district our size to only be serving 10-15 percent of our kids in preschool is an area in which we need to improve,” he said. “With the growth that we’re seeing, we’ve got the ability to address the needs for more preschool, but also the ability to address the growth that’s coming our way. And this will be a win/win situation. The last part of that is really a win/win/win because the buildings we’re going to build are going to add storm shelters for kiddos in preschool and elementary all across the district. I think it’s a triple-win for us and we’re hopeful that the community will get out and support it.”
On April ballot
The bond issue will appear on the ballot during the election on Tuesday, April 6. If approved, Pearce said, the bonds would be paid back over a period of 20 years.
“I would expect that during that time, our tax levy would stay the same, and that we would pay back those bonds with that schedule,” he said.
Josey McPhail, director of communications for the district, said a list of answers to frequently asked questions about the bond issue would be posted on the district website.