Vote NO

October 2

The real cost of this facilities plan is much higher than the published $53 million. The lack of transparency in not publishing this information is troubling.
The asset value of the swimming pool has been completely omitted from the cost analysis. Estimates are $8 to $10 million dollars.
The cost to rent another pool and bus the swim team to that location is also inexplicably missing from the cost analysis.
Future maintenance costs for the turf at the High School athletic field have also been omitted.
Ongoing running costs for the kitchen, food preparation, food storage and delivery expenses have also been omitted. Details on staff hires or outsource contracts are also missing.

The Funding & Tax Impact page on the Facilities website will show the latest Administration estimates.
Rutherford taxpayers are still paying off the bond issued in 2002 when over $30 million was spent on facilities upgrades at all schools.
The duration of the new bond to be issued has not yet been determined. 20, 25 and 30 year bonds have all been discussed by the Administration.
Interest on the $53 million bond will add another $30 to $35 million to the total cost.
The tables below display impact of sample interest rates as seen on the Administration website.