Bonds are used for capital construction, but an easy trick is Bonds = Building. Bonds allow Jeffco Schools to complete large capital projects – such as a major renovation or a new building – and pay them back over time. This is a common method of public finance for major projects. Jeffco Schools is asking the voters to approve a bond of no more than $567 million.
This bond package would benefit all schools in Jeffco. With additional capital dollars, Jeffco can provide healthier, safer schools and ensure quality classrooms for learning. The bond would provide increased career and technical learning opportunities at a dedicated facility. It would fund major investments in established schools and provide for new schools and expansions in high-growth areas.
If approved by voters in November, the capital funds would be used as follows:
$354 million towards:
- Projects at 99 elementary schools, 17 middle schools, 18 high schools, 3 Pre-K sites, and 20 Option schools
- School safety and security, interior and exterior renovations, technology, furnishings, playgrounds, mechanical upgrades, and bringing schools into educational specification compliance
- A new career and technical education site in south Jeffco.
- Reduce the Jeffco Facility Condition Index (FCI) by 50%
$110 million towards
- Replace 3 schools
- 7 elementary school additions
- 7 middle school additions
- $56 million towards two new schools in the high-growth areas of Central Lakewood and Northwest Arvada.
- $56 million to Charter schools
No bond dollars will be used for administrative salaries. A citizen expert oversight committee will monitor the use of bond funds and the expenditures will also be subject to an annual audit by and external firm.