Wardell: Many Plusses For CSD Bond

In a guest opinion for the Coeur d’Alene Press, Finance Director Wendell Wardell of the Coeur d’Alene School District discusses the $32.7M bond election set for Aug. 28: “A school construction bond acts like a home mortgage for the school district. It has a principal and interest payment and, in this case, repayment is spread over 13 years. Another funding mechanism used to support buildings is a School Plant Facility (SPFL) which is a simple levy over a similar time frame. Of the two ways, the School Bond we are proposing is the most homeowner and community friendly. For the community, it’s about jobs and putting an economic infusion of $32.7 million dollars into circulation relatively quickly. For the homeowner, the cost is spread over 13 years. The district seeks to lock in (within the bond market) the current $.42 per $1,000 of assessed property value. We can maintain this current tax rate because both the Lake City High School Bond and KTEC School Plant Facilities Levy are expiring this year.” More here.

Question: Why are/aren’t you supporting the $32.7M school bond?