RSD Bond - Page 1

RIVERVIEW SCHOOLS BOND ELECTION

February 6, 2007

The Riverview School District Board of Directors believes strongly in the education of all children and in providing safe facilities to support the improvement of student learning. Goal 2 of the District’s Strategic Plan affirms “Periodic capital improvements to district facilities must be made to ensure that educational program needs are met, and the spaces are safe, compliant, comfortable, and have structural integrity.

The School Board decided over a year ago to develop a bond issue which would address a majority of the facility needs within the district. Their major objective, however, was to run a bond issue that didn’t increase the existing local bond tax rate of $1.21 per $1,000 assessed valuation. This has been accomplished through a 23-year, $56,600,000 bond which will begin as the existing bond issues expire.

Capital improvements shall be made to Cedarcrest High School, Tolt Middle School, Carnation Elementary, Cherry Valley Elementary, Stillwater Elementary, and Eagle Rock Multi-Age Program, including replacing heating and cooling systems and remodeling athletic facilities. An alternative school campus is planned to house the growing PARADE Program for home school students, the CLIP Alternative High School Program, and a future middle school alternative program.

As school districts are limited in their available construction time, the proposed projects will need to be phased over a four-year period. By phasing the projects, the district is able to maximize additional state and local funding, including state matching funds over $6,500,000 and impact fees over $700,000.

Many of you may ask, “Aren’t you going to run a bond for a new school soon?” In the 2005-06 Six-Year Capital Facilities Plan, a new K-8 school is projected for 2011-12, based on current accommodations and future student growth projections. This Plan is updated annually and any actual growth will be reflected in the new plan and new projections will be run accordingly.

The Riverview Board of Directors unanimously voted on November 28, 2006, to provide the students of the district with adequate, proper and safe educational facilities through a 23-year, $56,600,000 bond election on February 6, 2007.