A $130 million general obligation bond request by the Santa Fe Public School District, N.M., was approved by a three-to-one margin in last week’s election. The vote was 4,340 for and 1,200 opposed.
The bond proceeds will provide $60 million to complete projects following earlier phases that were funded by the district’s $160 million bond program approved in 2006. Other allocations include $15.6 million of district-wide improvements and $3.5 million for initial design work for projects to be funded with a scheduled bond election in 2017.
Officials said the new debt will not require an increase in the property tax rate. The district’s $146 million of outstanding GO debt is rated Aa1 by Moody’s Investors Service. Assessed valuation in the district totaled $19.3 billion in fiscal 2012.