With no expected increase in the District's current debt service mill levy of 5.776 mills, shall Durango School District 9-R debt be increased $90 Million, with a maximum total repayment cost of not more than $149.2 Million, and shall the District be authorized to collect taxes sufficient to pay principal of and interest on such debt but not exceeding $8.215 Million annually for capital improvement purposes,
Including but not limited to:
• Installation of safety and security enhancements such as fire alarm systems, entry vestibules and interior door locks at various school facilities;
• Extending the useful life of aging school buildings by making necessary major repairs, replacements, and improvements to the following deteriorating areas:
• Roofs and flooring
• Foundations and structural systems
• Heating ventilation systems (hvac)
• Technology infrastructure
• Plumbing and electrical systems;
• Upgrade educational technology, and enhance internet access for all school facilities;
• Renovate and rebuild Miller Middle School to address safety, security and educational needs of the students and staff;
• Construct and equip a career and technical innovation building to address current and future
Work force needs;
• Invest in capital facilities improvements and expansions for charter school partners within the Durango School District 9-R boundaries;
Such debt to be evidenced by the issuance of general obligation bonds, which shall bear interest, mature, be subject to redemption, with or without premium of not to exceed 3%, and be issued, dated and sold at such time or times, at such prices (at, above or below par) and in such manner and containing such terms, not inconsistent herewith, as the District may determine; and shall ad valorem property taxes be levied in any year, without limitation as to rate, but in an amount not exceeding $8.215 Million annually, to pay the principal of, premium, if any, and interest on such bonds and any bonds issued to refinance such bonds and to fund any reserves for the payment thereof?