At its April 5 school board meeting the trustees of the Bass Lake Joint Union Elementary School District will be discussing the possible restructuring of the bond debt incurred through the passage of Measure R in June of 2006.
Measure R funds have been utilized in a variety of projects over the last decade, including modernizations at Oak Creek Intermediate School and at Wasuma Elementary, the complete renovation of the Oakhurst Elementary School campus, and the construction of the first monolithic dome gymnasium in California at Wasuma Elementary School.
A representative from the Dale Scott Company will make a presentation on the possibility and process of restructuring the bond debt. This restructuring could save area taxpayers an estimated $3.1 million in costs over the life of the loans.
At least eight school districts in the state have restructured their debt and have saved their taxpayers more than $254 million.
According to Superintendent Glenn Reid, much like making an additional monthly payment on a home mortgage, a small increase in property tax payments would retire the debt much quicker than is currently projected, resulting in a quicker payoff of the balance and significant savings to property owners.
The public is invited to attend this meeting scheduled for 6 p.m., Wednesday, April 5 in the Computer Lab at Oak Creek Intermediate School.
The board will be taking no action at this meeting as they are gathering input and seeking public comment.
Bass lake Joint Union Elementary School District