Rapid City could pass resolution for school bond issue
RAPID CITY, S.D. (AP) — Rapid City school officials may pass a resolution that would trigger a $250 million bond issue to fund a massive overhaul of the district’s facilities.
The Rapid City Journal reports a task force comprised of district administrators and Rapid City residents that studied and proposed a plan for school facilities will deliver its final set of recommendations to the school board on Monday.
A preliminary plan calls for the district to build three new elementary schools, close three others and rebuild a pair of middle schools.
School officials have discussed a bond structure that would mean an owner of a $100,000 home could pay roughly $100 more in property taxes.
District officials believe that projected growth in Rapid City will allow the bond to be paid off within 25 years.
Information from: Rapid City Journal, http://www.rapidcityjournal.com