Ballot to ask for $188.2M
When voters go to the polls on May 20 to say yes or no to Forest Lake School District’s facilities bond proposal, they may be in for even more sticker shock than anticipated.
The School Board voted to spend $176 million on facilities upgrades, subject to voter approval. The Minnesota Department of Education wrote a positive review and comment on a $176 million proposal.
But the ballot question will ask if bonds should be issued in an amount not to exceed $188,205,000.
The extra existing debt is from building Century Junior High in 2000. If the referendum passes, that debt will be refinanced. The refinanced amount will not affect the school district’s debt total or the amount paid in property taxes.
The amount of new debt taken on would still be $176 million.