A $92.5 million general obligation bond referendum sought by Douglas County Unified School District 497, Kansas passed last week with an approval rating of more than 70%. There were 8,013 in favor and 3,082 opposed.

District officials said the bonds would be issued over three years to avoid a property tax increase from the new debt.

Improvements financed by the proceeds include an $80 million modernization effort at 14 elementary schools and two high schools. The bonds will also finance $6.5 million of technology upgrades and a $5.7 million expansion at the district's career and vocational education campus.

Douglas County Unified School District 497 serves the city of Lawrence. The district's $51.7 million of outstanding debt is rated Aa2 by Moody's Investors Service.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.