St. Paul School District 45

Referred to the People by the District Board
St. Paul School District No. 45 General Obligation Bond Authorization

Question: Shall St. Paul School District No. 45 be authorized to issue general obligation bonds not exceeding $4,100,000? If the bonds are approved, they will be payable from taxes on property or property ownership that are not subject to the limits of sections 11 and 11b, Article XI of the Oregon Constitution.

Summary: If approved, this measure provides funds to finance capital construction and improvements, and pay bond costs. Specifically, this measure would provide funds for:

• At the elementary school, painting and renovating the exterior surfaces, constructing and furnishing a covered play area and upgrades and improvements to the music room,

• renovations and improvements to the existing St. Paul High School including replacing windows, upgrading mechanical and electrical systems, and asbestos removal,

• constructing, furnishing and equipping two new classrooms and a student commons and related site improvements at St. Paul High School,

• making district site and safety improvements including repairing and expanding parking lots to accommodate traffic flow, student pick up and drop off, and visitor access to all buildings, and

• pay associated bond issuance costs.

The Bonds would mature in twenty-one (21) years or less from issuance date and may be issued in one or more series.

Explanatory Statement

Bonds are being proposed to provide funds to renovate and replace the district’s aging structural, electrical, heating and ventilation systems, and to build new classrooms to accommodate growth estimates for the St. Paul School District. Population growth for the City of St. Paul over the last five years according to the Portland State University’s Population Research Center has been approximately 2.8% per year. Extending that trend out over the next 10 years, the entire school district could foresee an increase of 40 to 50 students or a 15-20% growth in school enrollment.

What Would the Bond Do?

If approved by voters, the $ 4,100,000 bond would address capacity and infrastructure needs.

Proceeds from bond measure 24-226 would be used by the St. Paul School District to:

Construct Additional Classrooms in Existing Schools

• 3 additional rooms at the high school: a new science laboratory/classroom, a student commons area, and one additional multipurpose classroom.

• Expand the music room at the elementary school.

• Add a new covered play area for the elementary school students

Renovate and Upgrade Existing Schools and Facilities

• Renovate, upgrade, and repartition existing classrooms to provide one additional classroom, staff work area, staff restrooms, and tutoring areas in the high school.

• Upgrading safety and security systems, plumbing systems, ventilation and heating systems, and electrical systems at the elementary and high school

• Replace single pane windows with double pane safety glass at the high school.

• Removal of asbestos at the high school

• New traffic routing and parking to separate students from parking lot traffic to improve student safety, and to redirect all foot traffic to secure building entrances

Bond proceeds could only be used for bond projects

The bond issue’s principal amount cannot exceed $4,100,000. Bond proceeds could only be used for costs associated with the high school and elementary projects listed on this ballot.

What Would the Bond Cost?

This new bond measure would cost the property taxpayer in the St. Paul School District an estimated average of $2.61 cents per $1,000 of assessed value per year during the life of the bonds. For the owner of an average home in the St. Paul District with an assessed value of $200,000, the bond would cost the homeowner approximately $522 per year. Rates could vary depending on interest rates and growth in the District’s total assessed value. Note: In June of 2006, the St. Paul School District did payoff the last maturity of its $465,000 General Obligation Bonds approved in 1996. The tax rate in fiscal year 2005-06 related to that bond was $.50 cents per $1,000 of assessed value. The retirement of the 1995 general obligation bonds would eliminate the annual property tax related to those bonds (In 2005-06, taxes on a $200,000 home were approximately $100).

Informing the Public

The St. Paul School District would report progress on bond projects monthly to citizens as part of the regular school board meeting and through periodic updates directly to the community.

Submitted by:

Bruce Shull, Superintendent

St. Paul School District