What is Bond/Levy Equalization?

Bond equalization is a state-funded financial assistance program to assist school districts in paying their annual bond interest and redemption payments. Currently, Ririe SD has a subsidy of 29.3%, which reduces the tax burden on local property owners. For example, our bond resolution states:

"The total amount estimated to be repaid over the life of the bonds, based on the anticipated interest rate, is $5,832,627 consisting of $7,000,000 in principal and $1,248,424 of interest, totaling $8,248,424 less $2,415,797 in estimated bond levy equalization payments."

In other words, of the $7,000,000 proposed in the bond, patrons will repay $5,832,627, and the state will pay $2,415,797.

Why isn't the district building classrooms?

The results of our 10 Year Facilities Plan indicate that both of our schools are at or near capacity. These enrollment numbers include roughly 140 out of district students. As our community continues to grow, the District will limit the number of new out of district applicants to make room for our growing in-district population. When we reach the point that our in-district students are filling our building(s) to capacity, the District will look at new construction options.

Why does the district need an athletic facility?

After discovering mold and structural issues in the old gym, the district was ordered by the department of building safety and the insurance company to immediately close the building to all staff, students, and patrons. Closing the old gym displaced our wrestling program and has created a strain on our athletic programs. Practices begin early in the morning and proceed late into the evening. A new facility will alleviate these issues.