Bond Issue

Frequently Asked Questions: 

What is the actual language of the ballot article? 

Article 2 – Bond Issue/One Story Hampstead Central School Renovation and Construction Project/10 Year Bond

Shall the voters of the Hampstead School District raise and appropriate the sum of $4,590,786 for the One Story Hampstead Central School Renovation and Construction Project and authorize the issuance of not more than $4,590,786 of bonds or notes in accordance with the provisions of the Municipal Finance Act (RSA 33) and authorize the District to issue and negotiate such bonds or notes and to determine the rate of interest thereon; to apply for, accept and expend any state or other aid that may be available for said project and further raise and appropriate an additional sum of $68,613.12 for the first year’s interest payment on the bond?   (3/5 MAJORITY VOTE REQUIRED)

Recommended by the School Board 5-0

What will the one-story Hampstead Central School Renovation and Construction Project/Bond accomplish?
The bond will provide funding to construct an addition to the Hampstead Central School that will contain 4 classrooms, a music room and a maintenance workshop for the facilities department. In addition, the 1960 wing of the building will be sheathed in a new insulated exterior to improve energy efficiency. New ventilation systems will be added to the wing to improve air quality. Finally, a sprinkler system will be installed throughout the building to enhance fire safety.

Why is the construction project necessary? 
The construction is necessary to provide permanent placement of programs housed in three portable trailers parked along the back of the building. These portables currently house the music room, 2 fourth grade classrooms, an occupational therapy space, the Ventures program, and a maintenance office and workshop.  The current building configuration cannot accommodate these spaces without additional room. This renovation and construction project is meant to replace temporary instructional space, NOT to add additional rooms. 

Is the construction necessary with our student enrollment projections?
Hampstead Central School’s enrollment is projected to increase by 15 students by 2020, yielding a 5 year-average of 432 children, which is the number we currently serve. This renovation and construction project will allow us to maintain all instructional services based upon on Hampstead’s current needs. It will allow us to move our current instructional spaces out of portables, which were meant to be temporary, into a secure portion of the school. 

Where will the music room be located?
The music room will be located behind the Gym/cafeteria. Access to the music room will be through a hallway from the rear of the cafeteria, or down a flight of stairs from the new classroom area.

How much will this project cost? 
This project is estimated to cost $4,590,786 which will be raised through issuance of a 10-year bond. The interest payments of the bond will equal $652,828.14.  The total 10-year cost to the district is estimated to be $5,243,614.14.  The cost of the first year's interest is estimated to be $68,613.12.

How much is the project estimated to cost an individual tax payer? 
The estimated cost to the individual tax payer is $.07 per $1,000 assessed property value in the first year. In the remaining years the estimated rate ranges from $.56 to $.45 per $1,000 assessed property value. A $300,000 property is estimated to pay $1,545 after 10 years. 

Where can I learn more about this project? 
You can learn more about this project by viewing this informational video
Click pictures to enlarge