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School bonds result in additional taxpayer savings
Published
11 years agoon
Posted By
AdminBig Sky School District
BIG SKY – On July 17, the Big Sky School District completed financing $9.745 million in bonds for its school improvement project, which will fund a new elementary school. The district plans to complete an additional loan of up to $455,000 in 2014 for the remaining authorization of $10.2 million after construction bids and costs are known. The term of these tax-exempt bonds is 15 years, with a final maturity set for July 1, 2028.
Final interest costs were lower than originally projected to voters, despite recent increases in interest rates, according to district administration. With the final bond figures and estimated loan costs, taxpayers will have an estimated $109,177 less in interest costs over the term of the bonds, compared to election estimates.
Mills to pay debt service on the bonds will commence in 2014/2015 and are estimated to be 32.04; for a home valued at $100,000 on the tax rolls, that would mean approximately $47.19 in new taxes. The projected mills at the time of the election were estimated at 34.63.
The true interest cost rate on the bonds is 3.11 percent, 0.14 percent less than the original estimates of 3.25 percent. Yields to investors ranged from 0.33 percent in the first maturity in 2014, to 3.75 percent in 2028. The bonds were offered and sold through D.A. Davidson and Co. to local and statewide banks and individual investors.
Approved by voters on May 7, the bonds are being issued to acquire two parcels of land on Windy Pass Trail contiguous to and north of the school campus, as well as to design, build and equip a new complex to serve prekindergarten through fourth grade classes.
As a part of the financing process, the district received an “A” credit rating with a stable outlook from Standard & Poor’s Ratings Services. The S&P rating report specifically indicates the favorable rating is due to the following:
• Good local economy situated in the greater Bozeman area, coupled with strong income indicators
• The district’s good tax base growth in recent years, with a lack of concentration in the top 10 taxpayers
• The district’s adequate financial position maintained during the past two fiscal years with a formal reserve policy of maintaining at least 5 percent of expenditures in its general fund reserve
Partly offsetting these foregoing strengths, according to S&P, is the district’s very small reserve levels on a nominal basis and very high debt burden on a per-capita basis.
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Saturday, March 23rd 6:00-8:00pm We will combine the heart-opening powers of cacao with the transcendental powers of breathwork and sound. Together, these practices will give us the opportunity for a deep
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March 23 (Saturday) 6:00 pm - April 23 (Tuesday) 8:00 pm
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We all are familiar with using a limited palette, but do you use one? Do you know how to use a
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We all are familiar with using a limited palette, but do you use one? Do you know how to use a limited palette to create different color combinations? Are you tired of carrying around 15-20 different tubes when you paint plein air? Have you ever wanted to create a certain “mood” in a painting but failed? Do you create a lot of mud? Do you struggle to achieve color harmony? All these problems are addressed in John’s workbook in clear and concise language!
Based on the bestselling “Limited Palatte, Unlimited Color” workbook written by John Pototschnik, the workshop is run by Maggie Shane and Annie McCoy, accomplished landscape (acrylic) and plein air (oil) artists,exhibitors at the Big Sky Artists’ Studio & Gallery and members of the Big Sky Artists Collective.
Each student will receive a copy of “Limited Palette, Unlimited Color” to keep and take home to continue your limited palette journey. We will show you how to use the color wheel and mix your own clean mixtures to successfully create a mood for your paintings.
Each day, we will create a different limited palette color chart and paint a version of a simple landscape using John’s directives. You will then be able to go home and paint more schemes using the book for guidance.
Workshop is open to painters (oil or acrylic) of any level although students must have some basic knowledge of the medium he or she uses. Students will be provided the book ($92 value), color wheel, value scale and canvas papers to complete the daily exercises.
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Come join us at Cowboy Coffee as we celebrate a fun night of drinks, games, and meeting others within the community. This event is from 6-8 and all are welcome
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Come join us at Cowboy Coffee as we celebrate a fun night of drinks, games, and meeting others within the community. This event is from 6-8 and all are welcome to come, if you don’t know who to bring come alone this is a great mixer event! This is an event hosted by Big Sky OUT as we work to provide queer safe spaces throughout the community.
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(Sunday) 6:00 pm - 8:00 pm
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Cowboy Coffee
25 Town Center Ave. Big Sky, MT 59716