ASD Bond 2016

The Alpine School District Board of Education passed a resolution for a $387 million bond election to be held on November 8, 2016. The bond will address growth and safety issues throughout the district. The bond projects are indicated below.

1
New High School
2
New Middle Schools
6
New Elementary Schools
4
Rebuilds
10
Renovations
3
Land Aquisition

New Schools

1 High School (Eagle Mountain)
2 Middle Schools (Saratoga Springs and Lehi)
6 Elementary Schools (Eagle Mountain-Silverlake, North Lehi, Saratoga Springs, other high growth areas)

School Rebuilds

Lehi High School (Final Phases), Lehi
Cascade Elementary School, Orem
Central Elementary School, Pleasant Grove
Greenwood Elementary (Final Phase), American Fork

School Renovations

Timpanogos High School (Roof Replacement), Orem
Mountain View High School (Renovations), Orem
Lone Peak High School (Roof Replacement), Highland
Oak Canyon Junior High School (Roof Replacement, partial), Lindon
Legacy Elementary School (Roof Replacement), American Fork
Highland Elementary School (Secure Office Entrance), Highland
Aspen Elementary School (Secure Office Entrance), Orem
Bonneville Elementary School (Secure Office Entrance), Orem
High Schools (Camera Systems)
Various Schools (Security Card Access Systems)

Additional Renovations

Lehi High School (Final Phases), Lehi
Cascade Elementary School, Orem
Central Elementary School, Pleasant Grove
Greenwood Elementary (Final Phase), American Fork

Land Aquisition

Property will be purchased in high growth areas of the district.

Ballot Language

Below is the language as it will appear on the ballot:

PROPOSITION #1

Shall the Board of Education (the “Board”) of Alpine School District, Utah (the “District”), be authorized to issue General Obligation Bonds (the “Bonds”) in a principal amount not to exceed Three Hundred Eighty Seven Million Dollars ($387,000,000) for the purpose of paying all or a portion of the costs to acquire land; acquiring, constructing, furnishing and equipping new school facilities; improving or rebuilding existing facilities; and the authorization and issuance of the Bonds due and payable with a term not to exceed twenty (20) years from the date or dates of issuance of the Bonds?

PROPERTY TAX COST OF BONDS

The District has other outstanding bonds for which a tax decrease would occur upon the retirement of such bonds, which may not occur if the Bonds are issued. However, these outstanding bonds reduce over time such that it is expected that there will be no incremental property tax increase on residences and businesses within the District from current annual levels after the Bonds are issued.

If the Bonds are issued as planned, without regard to the existing taxes currently paid for existing bonds that will reduce over time, a property tax sufficient to pay debt service on the Bonds will be required over a period of twenty (20) years in the estimated amount of $195.05 per year on a $275,000 primary residence and in the estimated amount of $354.64 per year on a business or secondary residence having the same value.

The foregoing information is only an estimate and is not a limit on the amount of taxes that the District may be required to levy to pay debt service on the Bonds. The District is obligated to levy taxes to the extent provided by law in order to pay the Bonds. The amounts are based on various assumptions and estimates, including estimated debt service on the Bonds and taxable values of property in the District.

FOR THE ISSUANCE OF BONDS

AGAINST THE ISSUANCE OF BONDS

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