State Guarantee Of School Bonds Ok’d

Sen. Shawn Keough, R-Sandpoint, urged the Senate on Monday to approve a constitutional amendment to put the state’s guarantee behind local school construction bonds.

“What we’re doing is helping our local taxpayers save money, while building school buildings that we desperately need in Idaho,” Keough said.

Her arguments and those of other supporters paid off. The Senate voted 30-4 for the measure, which now goes to the House. If it wins two-thirds approval there, voters would have the final say in November.

Sponsors estimate Idaho school districts could save $40 million on interest over the next 20 years if the state backs the local school bonds, because the state’s backing would give every school district in the state a stellar Triple-A bond rating. That means lower interest rates.

Lawmakers have rejected several other proposals to help school districts with building problems, including lowering the two-thirds supermajority now required to pass a bond. They’ve also killed attempts to earmark state funds to supplement local property taxes for school buildings.

All North Idaho senators voted in favor of the bond-guarantee measure Monday.

, DataTimes