Bond resolution passes at Tuesday's meeting

A bond resolution to help repair and rebuild area schools was approved Tuesday night by the school board.

During its regularly scheduled meeting, the board voted 5-0 to approve a mail-out ballot to be sent out to Los Alamos County residents in January 2009 that asks taxpayers to help bear the weight of a $40 million infrastructure-rebuilding project dubbed the “20-Year Facilities Renewal Plan” that is designed to ensure the longevity of current LAPS schools.

“This is a one-time tax increase,” said Kevin Powers of RBC Capital Markets, a company contracted by LAPS to help draft the resolution. “Then we can support this program on in to the future, and with some good fortune and growth the tax base will exceed the projected growth and we will be able to increase the amount of money that can be generated for bond sales in the future.”

The general obligation bond that currently supports schools in Los Alamos is set at a rate of $3.262 per $1,000 assessed evaluation. Neighboring Pojoaque has its bond set at $9.743, Santa Fe at $3.437, Española at $5.159, and Bernalillo at $9.475.

The proposed bond resolution in Los Alamos would raise the general obligation bond by $5.50, bringing it to $8.686, according to the report released by RBC.

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