2016 Bond and Mill Levy Override

Building the future together graphic

Funding for New Schools Approved

PSD’s 2016 bond, approved by voters in November 2016, will pay for planned construction and school improvements.

PSD voters approved a $375 million bond to fund $40 million in improvements to existing schools and to build three new schools — a new middle/high school in Wellington, and an elementary and middle/high school east of Interstate Highway 25. Money will also fund a new athletics complex, transportation maintenance facility, and an addition to Zach Elementary School. The $8 million mill levy override will also pay for operating costs of the new buildings.  

Several court cases delayed efforts of this work but the litigation was resolved in PSD's favor in fall 2018. The PSD Board of Education approved in September 2018 the issuance of bonds, clearing the way for construction.


    2016 Bond

    Timelines for projects are subject to change.

    New construction  

     

    Ongoing facilities improvements:

    $40 million - work is expected to start in 2019

    • School-based requests: $12 million       

    • Facilities deferred maintenance: $28 million

     

     Bond financing package

     $375 million (no increase to current tax rate)

    • New Schools/Addition: $295.6 million

    • New Athletic Complex: $6.225 million

    • Transportation Maintenance Facility- North Terminal: $11.3 million

    • Ongoing Facilities Improvements: $40 million

    • Bond Issue Expenses: $2 million

    • Bond Project Coordination: $7.875 million

    • Bond Project Reserve: $12 million

     

    2016 Mill Levy

    Operational Mill Levy: $2 million - $8 million (phased in over two years)

    • Start-up costs for new buildings

    • School-based staff salaries (principals, assistant principals, Integrated Services coordinators, English Language Learners staff, mental health staff, school resource officers, Child Nutrition staff, etc.)

    • Facilities staff salaries 

    • Materials and equipment for operations tied to growth (buses, custodial, staff, etc.)

    • Technology refresh costs associated with growth