The School District of Spring Valley board on Jan. 15 scheduled an April 1 election on $13.15 million in general obligation bonds for facility improvements.
Voters will face two ballot measures, …
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The School District of Spring Valley board on Jan. 15 scheduled an April 1 election on $13.15 million in general obligation bonds for facility improvements.
Voters will face two ballot measures, Question 1 to approve up to $9.8 million in bonds for infrastructure upgrades, including a transportation garage, and Question 2 to approve up to $3.35 million to develop a basic, eight-lane athletic track, make major improvements at Syverson Pool and for other equipment upgrades.
The board unanimously approved resolutions to schedule the election and for Question 1. On a 6 – 1 vote, with board member Joan Ford dissenting, the board approved a resolution for Question 2.
If approved by the voters, Question 1 bond proceeds would fund heating, electrical and plumbing upgrades and deferred maintenance projects at the elementary school and middle school/high school. In addition, Question 1 would fund a transportation building at an estimated cost of $1.5 million.
The athletic track funded by Question 2 would cost an estimated $2.695 million, while the pool improvements would cost about $221,500. Question 2 bond proceeds also would fund middle school/high school gym backboard controller equipment replacements costing an estimated $67,500. In addition, Question 2 would cover improvements at the downtown athletic fields and demolition of a smelting tower, costing an estimated $211,500.
Assuming a 5 percent interest rate and 20-year amortization, the tax impact on a $200,000 property would be an estimated $230, with $170 from Question 1 bonds and $60 from Question 2, according to a planning estimate from Robert W. Baird & Co., a financial advisory firm based in Milwaukee.
Under state law, the board will receive state reimbursement in the form of tax relief for a portion of borrowed funds spent. Debby Brunett, a Baird school business specialist, said the reimbursement rate would be approximately 27 percent. The reimbursement rate fluctuates yearly based on Spring Valley’s comparative equalized property values, she explained to the board.
Brunett noted that Spring Valley’s values fell this year, an “atypical” occurrence she said was tied to the state’s determination that Gilman properties were overvalued.
The 20-year amortization term is the maximum permitted for school debt by state law, but the district could prepay the debt or refinance later if interest rates fall, Brunett said.
In other action, the board approved limits on open enrollments for the 2025-2026 school year. Open enrollment refers to parents who live outside the district applying to send their children to Spring Valley schools.
“We recommend that there are no limits in regular education open enrollment for students next year in any regular grade level, with the possible exception of third grade,” a memo to the board from District Administrator John Groh said.
For special education, the board approved limits that allow no open enrollment in kindergarten through fifth grade, middle school/high school, speech and language therapy or early childhood education, as well as for programs the district doesn’t currently offer.
The regular open enrollment application window for the 2025-2026 school year will run from Feb. 3 to April 30, according to the state Department of Public Instruction. Under some circumstances, parents may apply outside the regular window.