Funding

Currently, the Lone Tree School Board is reviewing the study and receiving more information. No decisions have been made and so no set plans exist for how a project such as this would be funded. The scenarios that include funding options were the recommendations of Shive-Hattery. 

Shive-Hattery's recommendations point to two funding streams in the SAVE/Revenue Bond and General Obligation (GO) Bond. 

Save/Revenue Bond

In the Spring of 2023, the Lone Tree School Board passed a Revenue Purpose Statement (RPS) giving the District the option to Bond against the 1 cent sales tax revenue we bring in annually. Essentially, the District would be taking a "loan" and have to pay back with a portion of the revenues we receive annually from sales tax. 

General Obligation (GO) Bond

A General Obligation Bond requires a vote by our community to be able to use. A vote can only take place once a year in the month of November and in order to pass it requires 60% + 1 vote in favor by the community. Similar to a SAVE/Revenue Bond, a GO Bond is essentially a "loan" with the difference being it is paid back with property tax. If a GO Bond is passed, it gives the District the authority to levy up to $2.70 per $1,000 of taxable valuation. The Lone Tree District passed a GO Bond to pay for the Wellness Center with the same process and authority to levy described above. If another GO Bond was passed, it would only give the District the authority to levy for a longer period of time and not levy more than the $2.70. By passing another GO Bond, similiar to the Wellness Center, the District would maintain the currently levy rate we have today.

Notes: There does exist an option for a GO Bond to have a greater levy rate, $4.05 per $1,000 of taxable valuation, giving a District the ability to generate more funds for a project.  Shive-Hattery's recommendation costing would not require this high of a levy rate.