G.O. Bond 2017
Red Oak Community School District
VOTE | June 27, 2017
What is a G.O. Bond?
A General Obligation (GO) bond is one method a school district may use to borrow money for construction projects as provided in Iowa Code Chapter 75. General Obligation bonds are issued and backed by the credit of the school district and its taxing authority. Unlike a personal loan an individual would obtain at a local bank, the general obligation bond does not require assets to be used as collateral. School district voters must approve before General Obligation bonds can be used. State and Federal laws tightly control this debt issuance process.
Proposed Project Funding
Total Construction Budget: $29,160,000