Shoshone School District seeks to pass bond in Tuesday’s election

Published: Aug. 28, 2023 at 3:00 PM MDT
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SHOSHONE, Idaho (KMVT/KSVT) — The Shoshone School District is seeking to pass a construction bond in Tuesday’s election.

The construction bond amount is 8.2 million dollars, to be paid off over 20 years.

Lorie Race, with the Shoshone School District Board says that they have tried to pass similar construction bonds in the past, but they haven’t passed.

This construction bond would be used to remodel the entrance to the elementary school and the middle and high schools to enhance the safety and security at the school.

They would add new classrooms and offices.

They are also looking for build a multi-purpose facility, which would be for the students during the day, but the community would also be able to use it for events and other community gatherings.

Race says because of the bond equalization program, and House Bill 292 that was recently passed, they are estimating about 60% of the cost of the bond will be covered by those two programs.

“Our financial advisors have calculated that the money or the payments from the bond equalization fund, will almost cover the entire interest expense associated with this bond,” said Lorie Race, with the Shoshone School Board. “So basically after the homeowners exemption, every $100,000 dollars of value in that home will cost the taxpayers about $127 dollars.”

This will require a super majority to pass, which is 66.7%.

If you are within the Shoshone School District boundaries, you can vote from 8:00 a.m. to 8:00 p.m. Tuesday at the Fire Station 2, or the Shoshone Community Center.

For more information on this, visit this link.