Las Vegas Sun

March 28, 2024

Two-part bond eyed by schools

The Clark County School District has sold less than half the bonds from 1994's $605 million construction issue, but it's preparing to ask voters to approve another helping on Nov. 5.

School Board members directed staff Tuesday to examine interest rates and market conditions to determine how large a bond proposition to lay before voters.

But the likely range will be $200 to $335 million, said Michael Alastuey, assistant superintendent for business and finance.

The board wants to have at least a two-part bond question, one which would not raise taxes and a second that would. The board said there wasn't enough information to set amounts Tuesday.

In 1994, voters approved the $605 million bond, which did not raise taxes, but a second part to raise another $300 million failed by a narrow margin. It would have meant an annual property tax increase of about $45 on a $100,000 house.

Preliminary figures show that if voters were to approve a $25 annual tax increase in November on a $100,000 home, it would allow a combined bond of about $475 million.

The district says it needs $514.6 million for new schools, campus additions, rehabilitation work, technology and equipment.

Under the '94 bond program, 25 schools are to be constructed by the year 2000, with the first campuses due to open in January.

Meantime, rehabilitation work also is under way, with 114 schools receiving upgrades ranging from air conditioning to new technology equipment.

archive