To the editor:
On June 30, 2015, the Mt. Pleasant Community School District will ask voters to bond all our currently available sales tax dollars for various capital projects.
According to Piper Jaffrey, the district?s bonding agent, there is $9.4 million available after interest payments.
Using Piper Jaffrey numbers and assuming seven percent architect fees and eight percent contingency fees there will be $8 million available for construction after all fees are paid.
In the April board meeting, Dr. Wells proposed a $9.6 million project, exclusive of architect fees and contingency fees. This estimate was based on 2013 construction costs.
Adding architect and contingency fees to Dr. Wells? proposal we would need $11.3 million to complete the proposed project.
Before we start this project we will be $3.3 million over budget! If construction costs have risen since 2013 our shortfall will be even higher.
There are three main school funding streams.
?General Fund, the largest, is currently operating at a deficit, thus the $500,000 cuts/layoffs this spring.
?Physical Plant and Equipment Levy is a taxpayer-approved fund and a super majority of these monies will pay for the 2.1 million dollar initiative for MacBooks for every student grades 6-12. This fund expires in 2020.
?Sales Tax Fund is the one-penny sales tax that we are voting on. If this referendum passes all our current sales tax funding will be spent until 2030. This would be comparable to maxing out your credit cards.
Don?t strap future school boards and future superintendents to this debt!
Please vote no.
David L. McCoid