What is a school bond?
A school bond election is issued by a public school district, typically to finance a capital project. These measures are placed on the ballot by district school boards to be approved by the voting public.
A school bond is similar to a home mortgage. It is a contract to repay borrowed money over time with a fixed, tax-exempt interest rate. These types of investments and facility projects are too large to be included in a school district’s annual operating budget.
Almost all school districts in Missouri utilize bonds to finance new facilities and major renovation projects. Every dollar raised from a school bond stays local.
When is the bond election?
The election will be held on Tuesday, June 2, 2020. See our Voting Information page to learn more.
What is the total amount of the proposal?
A bond of $4 million is proposed.
What is included in the proposal?
If passed on June 2, 2020, the no-tax increase bond will provide for the following; safety enhancements at school buildings, renovations and improvements of existing classrooms, resurfacing and repairing of driveways and parking lots, improved learning environments through heating and air system upgrades, remodeling of restroom and locker room areas, and renovating and improving bleacher seating at athletic facilities.
How was the bond project list developed?
The Board of Education followed recommendations by the district’s Virtual Citizens Advisory Council, feedback from school staff, a Facilities Assessment conducted by Incite Design Studio, and safety recommendations from Homeland Security.
What will the cost be for individual tax-payers?
The bond issue will require no increases to taxes. The school district’s debt service tax levy will remain unchanged.
How is it possible to issue bonds without a tax increase?
Careful money management & good financial stewardship of taxpayer dollars is a priority for the District's Board of Education. Because of this commitment and determination by the Board of Education, the district is in a position to ask for a bond without raising the taxes of our community members. This is a result of paying off some existing debt and refinancing the rest for better rates. Because of these actions, we have room in our debt service levy to issue bonds to cover the cost of the proposed projects with no tax rate increase. You can learn more about how it is possible to issue bonds without raising taxes by reading this article.
Will my taxes go down if this does not pass?
No. The District would continue to pay out the current bonds in the same way that has been in place for the past 10 years. The District may choose to refinance the bonds and keep the payment the same, reducing the number of years left to pay them off.
What would happen if this does not pass?
Some maintenance and repair work would have to be deferred and some projects would be postponed indefinitely. The most critical maintenance and repair needs would still have to be addressed. To pay for this, more money would have to be spent from the day-to-day operating budget (the part that normally pays for classroom instruction, teachers, staff and supplies).
What is the actual language on the ballot?
The language that will be found on the June 2, 2020 ballot can be found here.
Will all students benefit?
Yes. The projects listed above benefit students in all buildings.
What if I don't have children or students in your school system?
If you have ever had children in school, or were a public school student yourself, people before you helped to fund the schools you and/or your child(ren) attended. Similarly, current Clinton residents help pay for the schools we have now and improve in the future throughout the time they live here. As new residents move into the district's attendance area, they assume these taxes as well. Regardless of where you live in Missouri, your property taxes will help fund schools in that area. School facilities are a hub of Clinton and are often open to all residents for academic, fine arts programs, athletic events, community meetings and other events that bring the entire community together.
Also, an educated community is a thriving community. Great schools increase property values and safe schools help ensure safe communities. Young people are our future workforce, homeowners and taxpayers. Their education prepares them for that next step into adulthood, and the stronger their foundation, the better their outcomes.
Will this bond help with teacher salaries?
By law, bond dollars can only be spent on "bricks and mortar" projects. However, funds for teacher salaries currently come from the same resources used to maintain aging facilities. By the passage of the bond, the district could free up funds for teacher salaries. This past year, the board approved raises for teachers and staff district-wide. It is the district's goal to continue to increase salaries for all teachers.