But Will It Help Build More Idaho Schools? Districts Must Still Overcome State’s Giant Electoral Hurdle

Increasing the Post Falls School District’s bond rating would save the district money, but probably would not help build more schools.

“I certainly see it as a benefit. It helps us sell bonds,” said district treasurer Sid Armstrong. “I don’t see how this will help us build schools.

“We’re still in the predicament that we have to get 66 and two-thirds (percent of the votes) to build that school. …” On March 24, the Post Falls School District will ask voters for $17.97 million to build a new high school. It also has the option of approving an additional $2.89 million bond to build an athletic complex and replace the heating system at the existing high school.

Under state law, 66-2/3 percent of voters must approve the bond in order for it to pass.

The 20-year-bond would raise property taxes on a $100,000 home by $60 per year for both options, or $54 per year for only the new high school.

The school district currently has an A rating on its bonds, Armstrong said. The highest rating is Triple-A.

With a not-quite-perfect rating, the school district must take out insurance when it sells bonds, Armstrong explained. With a Triple-A rating, no insurance would be needed.

“Just to give an example of what happens, five years ago, when we built the Prairie View School, we did it with no rating,” he said.

This fall, when the district received an A rating, it reissued the bonds and saved taxpayers about $227,000.

Improving the rating from A to Triple-A would probably not improve the school district’s position by as much, he said.

, DataTimes