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Mound City School Patrons to Vote on $2.8 Million Improvement Plan

By John Nixon

05/20/2014

(KLZA) -- Mound City School District patrons will go to the poll August 5th after the Board of Education Monday voted to run a lease-purchase issue to pay for various school improvements.

The $2.8 million issue would cost property owners an additional 42 cents on the levy if approved by a simple majority of the voters. It would be a 20-year payoff.

Improvements the board want to include are heating / ventilation upgrades and air conditioning to all of the classrooms; to complete handicapped accessibility improvements that would include an elevator; completed safety and security access doors and camera systems and to construct a multipurpose room addition the community would be able to use.

Superintendent Ken Eaton said that under a lease-purchase issue the district would have more flexibility in recalling notes to get better interest rates and it does not flow through a debt-service fund.

Voters will say yes or no to a $2.8-million issue, but the proposed improvements come with a total price tag of $3-million. The Mound City District has been able to create some reserve funds to help pay for the improvements. Under the proposal the school district hopes to budget $50,000 a year in addition to the added levy to help pay for the improvements.

If added to the current levy the total tax levy for the Mound City School District would increase to $4.15. Under the Missouri taxing system property owners pay taxes on 12 percent of their ag-land value, on 27 percent of commercial property value and on 19 percent of residential property.

Mound City School patrons have voted down bond issues two previous times that would have added classrooms to the school building but did not include air conditioning.

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