Following a three-month process of engagement with Ogden stakeholders regarding school building needs and the values held through out the community, the Ogden School District Board of Education voted to present on the November 2018 ballot the following language:
OGDEN CITY SCHOOL DISTRICT
“Shall the Board of Education (the “Board”) of Ogden City School District, Utah (the “District”), be authorized to issue General Obligation Bonds in an amount not to exceed Eighty-Seven Million Dollars ($87,000,000) (the “Bonds”) for the purpose of paying all or a portion of the costs to purchase school sites, purchase or construct buildings, furnish schools or improve existing school property, including new schools to replace Horace Mann and TO Smith Elementary Schools, a renovation of Polk Elementary School, and an addition to Wasatch Elementary School; said Bonds to be due and payable in not to exceed twenty-six (26) years from the date of issuance of the Bonds?
Property Tax Cost of Bonds: If the Bonds are issued as planned (and without regard to the existing taxes currently paid for existing bonds that will reduce over time), an annual property tax to pay debt service on the Bonds will be required over a period of twenty (20) years in the estimated amount of $138 per year on a $196,000 residence (primary) and in the estimated amount of $251 per year on a business property (and 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 Board may be required to levy in order to pay debt service on the Bonds. The Board 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.”
The Voter Information Pamphlet available in October will provide additional information regarding the 2018 school bond election.