Maricopa County Unified School District No. 48 will renovate, upgrade, and add to its facilities if voters approve $118 million of five-year bonds in November.
The district, which serves the city of Scottsdale, would use the proceeds to build four middle schools and make mechanical and electrical upgrades and renovations to nine elementary and middle school sites.
The renovations will save an estimated $610,000 in operating costs a year, the district said.
David Peterson, assistant superintendent for business services, said over the last three years the district has received around $23 million less than expected in state aid from Arizona for building maintenance due to ongoing declines in state revenue.
Approval of the bonds would not require an increase in the district’s tax rate. If the bonds are not approved, the tax rate would decline by 30 cents per $100,000 of property value. A recent poll found almost 70% of Scottsdale residents in favor of the school bond proposal.
The district staff’s first proposal for a 2010 bond package totaled $130 million.
The final package approved by trustees did not include a $7.5 million renovation of district offices or $4.9 million for new artificial turf athletic fields at the district’s high schools.
Maricopa County USD 48’s general obligation debt is rated Aa1 by Moody’s Investors Service and AA by Standard & Poor’s.
