Bond Overview
LOSD has implemented two phases of a three-phased capital bond improvement program and is contemplating the third and final phase.
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Phase 1: Passed by voters in 2017 with 59% approval, raising $187 million plus $32 million in premiums, costing taxpayers an additional $1.16 per $1,000 of assessed value.
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Phase 2: Passed by voters in 2021 with 54% approval, raising $180 million plus a $4 million OSCIM Grant and $12 million in anticipated premiums, costing taxpayers an additional $0.83 per $1,000 of assessed value.
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Phase 3: Targeting a May 2025 election, contemplating raising $185 million with no increase in tax rates.
A bond issue is used by a public school district to finance school facility projects or other capital projects. Measures are placed on the ballot along with information about the specific projects that would be completed by the district if approved by the voting public.