G.O. Bond 2017
Red Oak Community School District
Thank you, Red Oak, for your continued support of our schools.
The official results of the Bond Issue Election show 937 votes for (76.69%) and 300 votes against (23.31%), with 1,237 votes counted.
Check back during design and construction for updates.
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