The Durant Independent School District is having a proposition Sept. 9 for $4 million in bonds that would be used for constructing, equipping, repairing and remodeling school buildings, acquiring furniture, fixtures and equipment plus acquiring and improving school sites.
During a June meeting, the Durant Board of Education approved a resolution for a special election to authorize the issuance of general obligation bonds that the district says is projected to not cause an increase in property taxes.
“This is a projected no-tax increase, so we’re going to maintain that millage that we’re currently at and we approved in the last bond issue,” J.C. Leonard, vice president of Stephen H. McDonald & Associates said, after the June meeting. “We had some stuff fall off plus we’ve had growth in the district.”
The bonds would bear an interest not to exceed 10 percent and be serially due within 10 years.
According to the school district, the bonds would fund the following: - To acquire and/or install technology equipment, instructional software and textbooks district-wide from the proceeds of bonds maturing within five years from their date $1,975,000.00.
- To repair and/or replace roofs and HVAC equipment district-wide, as needed $1,700,000.00.
- To acquire band/orchestra equipment district-wide, as needed $300,000.00.
- To acquire choir/fine arts equipment district-wide, as needed $25,000.00.