2-STEP BOND APPROACH
2022
● Economic Instability
● Construction Market Volatility
● Labor Shortages
● Supply Chain Issues
● Inflation Rates
● Construction Materials
PIPER HIGH SCHOOL SOUTH ATHLETIC BUILDING
#FUTUREREADY PHASE 2
SCOREBOARD RENDERINGS
FOOTBALL TRACK SOCCER
PMS BASEMENT RENOVATION
ALL STUDENTS ALL STUDENTS
ALL STUDENTS ALL STUDENTS
Q: What is the proposed new bond terms? Another 30 years, with a 10 year interest only payment option? What will be annual interest payment on all outstanding bonds?
A: Proposed Bond Terms & Interest Payments
● The new bond would have a 30-year term.
● In 2026, the District plans to pay interest only on the new bonds.
● Starting in 2027, the District will make both principal and interest payments annually for the remainder of the bond term.
● If the bond election passes, the annual interest payment on all outstanding bonds in 2026 is estimated to be between $6.49 million and $6.76 million, depending on the interest rate received on the new bonds.
Q: Approximately how much interest will be paid on this bond?
A: Approximately $42,445,70 of interest will be paid on this loan and $32,500,000 will go towards principal. The total amount paid over 30 years is approximately $74,945,750.
Q: Why is the interest amount higher than the principal?
A: It’s common for interest to exceed the principal in a 30year borrowing. For example, a $300,000 mortgage at a 6.75% interest rate over 30 years results in more than $400,000 in interest.
Q: Has the principal on the previous bonds been paid in full?
Q: What factors influence the Board of Education's decision to adjust or lower the Bond and Interest Rate each year? Beyond easing the tax burden on patrons, are there other reasons—such as financial or investment strategies—behind these decisions?
A: Typically, the Bond and Interest Fund mill levy will increase in the fiscal year immediately following the passage of a bond election and will fall in subsequent years as the assessed valuation of the District grows. However, this pattern could change for to a variety reasons including adjustments to state aid rates, adjustments to cash basis reserve, assessed valuation growth lower than projected, and use of the B&I Fund to stabilize the total mill levy rate.
Q: What are the interest rate predictions for the upcoming bond? Do we have projections?
A: A 5% interest rate was assumed on the future bond issue. Yes, detailed mill levy projections were prepared.
Q: Last sentence on the Ballot provision: "The balance of the costs shall be paid with interest earned on the reinvestment of the bond proceeds prior to expenditure or bond reoffering premium." Can you explain what this means?
A: When a school district issues bonds there are often additional monies generated above the original principal amount of the bonds. One such addition source of funds is interest earnings from the investment of the bond proceeds during the construction of the project. The other source is premiums that might be generated from the sale of certain bonds at prices above their stated maturity amounts. Both of these other sources of funds can be used to pay project costs or to reduce the B&I Fund mill levy. The exact amount of these additional sources of funds can not be determined until the time that the bonds are sold and the projects constructed.
Q: How might this bond affect the Mill Levies in the future?
A: The new bond issue is projected to increase the Bond & Interest levy by 2.412 mills.
Please note, even with the proposed levy increase of 2.412 mills— the Bond & Interest mill levy would still be less than it was two years ago.
Q: What is the District Boundary Map?
Q: Why were students registered to vote at the high school?
A: Registering students to vote is a common and important practice in high schools. Whether for local or national elections, our goal is to empower students to become informed, responsible, and engaged citizens. While we actively encourage civic participation, we do not—and legally cannot—advocate for any specific candidates or political positions.
Q: If the Bond passes, what happens to the current district stadium?
A: If the bond is approved, it will create much-needed space for middle school athletics and provide additional opportunities for youth organizations to rent district facilities. All high school sports and activities will be held at the high school campus, enhancing efficiency and maximizing the use of our existing stadium and facilities.
Q: Will the football stadium have a Jumbotron?
A: The football, track and soccer fields will each have a SCOREBOARD, similar to what is currently at the new softball and baseball complex. Below are the renderings of the scoreboards for the new complexes.
FOOTBALL
