BELOW IS THE RESOLUTION APPROVED BY THE KUNA BOARD OF TRUSTEES DECEMBER 2022
OFFICIAL BALLOT
SPECIAL GENERAL OBLIGATION BOND ELECTION
JOINT SCHOOL DISTRICT NO. 3,
ADA AND CANYON COUNTIES, STATE OF IDAHO
March 14, 2023
Shall the Board of Trustees (the “Board”) of Joint School District No. 3, Ada and Canyon Counties, State of Idaho (the “District”), be authorized to issue general obligation school bonds of the District in the principal amount not to exceed $111,445,000 for the purpose of financing the costs of (i) construction of a new elementary school; (ii) renovations and additions to Kuna Middle School and Fremont Middle School; (iii) construction of an additional classroom wing and athletic additions to Swan Falls High School; (iv) construction of an additional bus facility; and (v) various maintenance projects throughout the District; including in each case all related site work, supporting infrastructure, furnishings and equipment; the final installment of such bonds to fall due not later than twenty-seven (27) years from the date of issuance, all as provided in the Bond Election Resolution adopted by the Board on December 13, 2022?
The interest rate anticipated on the proposed bond issue is 4.06% per annum. The total amount estimated to be repaid over the life of the bonds, based on the anticipated interest rate, is $183,380,200 consisting of $111,445,000 in principal, plus $79,928,000 of interest, less $7,992,800 in estimated bond levy equalization payments. The term of the bonds will not exceed twenty-seven (27) years from the date of issuance.
The estimated average annual cost to the taxpayer on the proposed bond levy is a tax of $128 per $100,000 of taxable assessed value, per year, based on current conditions. The District’s existing bond levy is expected to decrease by $128 per $100,000. Therefore, if the proposed bonds are approved, the estimated average annual cost to the taxpayer is not expected to increase based on current conditions.
As of March 14, 2023, the total existing bonded indebtedness of the District, including interest accrued, is $33,738,405.
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IN FAVOR of issuing bonds in the principal amount not to exceed $111,445,000 for the purposes stated in the question above
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o
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AGAINST issuing bonds in the principal amount not to exceed $111,445,000 for the purposes stated in the question above
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o
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