Lake schools: Voters to decide bond issue for new school Week Of 10/25/2021

By: 
Larry Limpf

Historically low interest rates and the deteriorating conditions of the Lake Elementary School building were major factors in the decision by the Lake school board to place a bond issue on the Nov. 2 ballot that will, if passed, finance the construction of a new elementary school.
Lake voters will decide a 6-mill bond issue that would raise $36 million over 37 years.
Monica Leppelmeier, Lake treasurer, said payment of the proposed new bond issue will be structured around existing debt incurred in 2000 for the district’s middle school.
Currently, 3.3 mills are being collected to pay off the middle school debt that is scheduled to be retired in December 2024. With the retirement of that debt, property owners will realize a net increase of only 2.7 mills. For the owner of a home with a market value of $100,000 that net increase in millage translates into an additional $94.50 per year in property taxes.
“Obviously we can’t predict the future but if rates stay where they are, we’re looking at saving more than $20 million over the life of the bond,” Leppelmeier said. “With that and the deterioration of the building we believe now is the right time.”
The current elementary school was constructed in 1960.
“We have issues with the plumbing and with the electrical system,” said Jim Witt, district superintendent. “We need to upgrade the fire suppression system. It’s an old building and much of the piping and underground components of the system are encased in concrete. That’s what they did in 1960. Any time we have a leak or problem with a pipe it becomes a really large endeavor for our guys to fix.”
The planned building would be constructed west of the current elementary school and would be completed by summer 2024.
The building would house 53 classrooms – 25 more than the current elementary school – for pre-K through sixth grade. The cafeteria could also be used for athletic contests and performances. Separate art and music rooms and a stand-alone gym are also planned.
“It’s going to be conducive to 21st century learners,” Witt said.
One question that has come up among residents since the school board approved the resolutions to proceed with the bond issue pertains to how the district is using revenues from a tax abatement agreement with First Solar, Inc. Witt said the school board has decided to allocate those revenues for operating expenses. The board and administration are projecting the allocation will enable the district to not go to voters for additional operating millage until 2030.
Leppelmeier said the district last asked voters for additional operating millage in 2012.
More information about the proposed school is available on the district Facebook page.

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