Fire Updates
Public Information Presentations
Bond Facts & Information
Why Bond Now?
A fire on April 21 destroyed several key facilities at Highland High School, including the main gym, cafeteria, music classrooms, weight room, and office areas. Authorities ruled the fire accidental and is a covered loss. The PCSD 25 Board of Trustees is asking voters to consider approving a $45 million bond to return Highland High School to a fully functioning high school facility. The bond will also expedite the district’s ongoing Capital Improvements Plan (CIP) 5-year schedule to upgrade the multipurpose (gym) facilities at Century High School to expand capacity and meet the educational and extracurricular needs of the student population.
How Will the Bond Impact Me?
*FINANCIAL/TAX IMPACT DISCLOSURE: The interest rate anticipated on the proposed bond issue is 3.71% per annum. The total amount estimated to be repaid over the life of the bonds, based on the anticipated interest rate, is $42,497,957, consisting of $45,000,000 in principal and $14,057,750 of interest, less $16,559,793 in estimated bond levy equalization payments. The term of the bonds will not exceed fifteen (15) years from the date of issuance. The estimated average annual cost to the taxpayer on the proposed bond is a tax of $37 per $100,000 of taxable assessed value, per year, based on current conditions. However, the District expects to receive from the State of Idaho school district facilities funds in an amount each year that will exceed the annual payments on the bonds and must first be used to repay the District’s bonds. Consequently, the actual estimated tax impact of the bond is $0 per $100,000 of taxable assessed value, per year, based on current conditions. As of November 7, 2023, the total existing bonded indebtedness of the District, including interest accrued, is $0.00.
PROPOSED BOND PROJECTS | ||
---|---|---|
PROJECT SCOPE |
HIGHLAND HIGH SCHOOL Renovate and enhance Highland High School, including repairs to damaged facilities, constructing additional classrooms, and expanding and enhancing the gym, activity space, and auditorium. |
CENTURY HIGH SCHOOL Expand and construct additions and improvements to Century High School’s multipurpose (gym) facilities.
|
COST ESTIMATE |
$58 Million |
$12 Million |
ESTIMATED INSURANCE REPLACEMENT SETTLEMENT |
$25 Million |
n/a |
TOTAL BOND REQUEST | $45 Million | |
BOND TERM | 15 Years | |
ADDITIONAL FUNDING SOURCES POTENTIALLY AVAILABLE | Insurance replacement funds; Idaho’s School Bond Levy Equalization Program, School Plant Facilities levy funds; General Fund; Sale/transfer of district-owned acreage; public/private partnerships or donations. | |
ANTICIPATED COMPLETION | Fall 2026 | Fall 2028 |
What Will I See on the Ballot?
Registered voters living within the boundaries of the Pocatello/Chubbuck School District 25 are eligible to vote for or against the bond measure.
QUESTION: Shall the Board of Trustees of School District No. 25, Bannock County, State of Idaho (the “District”), be authorized to issue general obligation school bonds of said District in the principal amount of up to $45,000,000 for the purpose of financing the costs of (i) renovating and enhancing Highland High School, including (a) repairs to damaged facilities, (b) constructing additional classrooms, (c) expanding and enhancing the gym and activity space, (d) expanding and enhancing the auditorium, and (ii) expanding and constructing additions and improvements to the gym facility at Century High School, together with furnishings and equipment necessary to operate said facilities, and all costs and expenses related thereto, such bonds to become due in such installments as may be fixed by the Board, the final installment of such bonds to come due not later than fifteen (15) years from the date of issuance, all as provided in the Resolution adopted by the Board on September 12, 2023?
The interest rate anticipated on the proposed bond issue is 3.71% per annum. The total amount estimated to be repaid over the life of the bonds, based on the anticipated interest rate, is $42,497,957, consisting of $45,000,000 in principal and $14,057,750 of interest, less $16,559,793 in estimated bond levy equalization payments. The term of the bonds will not exceed fifteen (15) years from the date of issuance. The estimated average annual cost to the taxpayer on the proposed bond is a tax of $37 per $100,000 of taxable assessed value, per year, based on current conditions. However, the District expects to receive from the State of Idaho school district facilities funds in an amount each year that will exceed the annual payments on the bonds and must first be used to repay the District’s bonds. Consequently, the actual estimated tax impact of the bond is $0 per $100,000 of taxable assessed value, per year, based on current conditions. As of November 7, 2023, the total existing bonded indebtedness of the District, including interest accrued, is $0.00.
Email communications@sd25.us or call 208.235.3257 to SCHEDULE A PRESENTATION for
10 or more people for further information regarding the bond.
PCSD 25 Bond History
Bonds historically address long-range facilities planning. Voters last approved a PCSD 25 bond request in 1998 to build Century High School, which also provided the funding to build a new gym at Pocatello High School and upgrade the school’s HVAC system, bathrooms, and other improvements. The Board refinanced the bond in 2012, which resulted in more than $750,000 in savings to local taxpayers.
More than 80 percent of Idaho school districts rely on voter-approved plant facilities levies and bond funding to finance school construction.
What is a bond?
Bonds for school projects are very similar to a mortgage on a home. Issuing debt in bonds is a way that school districts can obtain the resources necessary for large and expensive capital improvements such as new school construction, renovations, and purchasing property for future schools. Just like other borrowers, school districts borrow money and make payments—usually annually. Bonds help supplement state and federal dollars with property taxes. General obligation bonds are authorized by voters through a bond election and require a supermajority to pass (66.67%).
What does a bond pay for?
- Bonds pay for major capital improvements, like building a new school or renovating/remodeling an old building. PCSD 25’s most recent bond was passed in 1998 to help fund the construction of Century High School and the new gym at Pocatello High School.
About PCSD 25
Founded in 1887, the Pocatello/Chubbuck School District 25 is Idaho's 5th largest school district, serving:
12,000+ Learners
1,700 Staff Members
13 Elementary Schools
4 Middle Schools
3 High Schools
1 Technical Education & Career Campus
1 Alternate School
1 Early Learning Center
Bannock County Elections Office
(208) 236-7333
VOTE ON TUESDAY, NOVEMBER 7, 2023
Polls open from 8:00 A.M. to 8:00 P.M.
Voters must vote at their residential precinct location.
Early Voting
Walk-in early voting begins Monday, October 16 and ends Friday, November 3. The Bannock County Election Office is adjacent to the Bannock County Courthouse.
Media Links
Idaho Ed News: What does it take to pass a bond in Idaho? Maybe Pocatello/Chubbuck has the answer
East Idaho News: Pocatello School District 25 proposes bond for the first time in 25 years
Ground News: Pocatello School District 25 proposes bond for the first time in 25 years
Pocatello-Chubbuck Observer: P.A.G.E.: SD25 $45M Bond Tax Impact
Idaho State Journal: School District 25 approves $45M bond for Highland, Century improvements that will appear on November election ballot
Local News 8: District 25’s Bond Option “A” moves forward in plans to renovate Highland High School after fire
Idaho State Journal: School District 25 Board of Trustees release timeline for projected $45M bond to renovate Highland, enhance Century gym
Latest News
Live Streams
PCSD 25 Regular Board Meeting 9-19-2023
PCSD 25 Board Work Session 9-12-2023
Special Meeting to Review Draft Floor Plans for Century and Highland High Schools and Consider Awarding PV-TEC Bid 9-5-2023
Special Meeting to Review Highland and Century Enhancement Designs and Approve Letter of Intent re Real Property 8-28-2023
Pocatello/Chubbuck School District 25 Regular Board Meeting 8-15-2023
Pocatello/Chubbuck School District 25 Special Meeting Review Public Input Future Planning 8-10-2023
Public Hearing Highland High School Future Planning 8/8/23
Pocatello/Chubbuck School District 25 Special Meeting re HHS Future Planning 8/1/23
Paul Davis Restoration of Highland High School
Pocatello/Chubbuck School District 25 Special Board Meeting 7/5/2023
PCSD 25 Special Meeting, Wednesday, June 28, 2023 2:00P.M.: Highland High School Survey Results Review
PCSD 25 Special Meeting for Action Wednesday, April 26, 2023 4:15P.M.: Regarding the decision to continue educational services for Highland High School, which involves the use of Century High School facilities.
PCSD 25 Press Conference Monday, April 24, 2023 10A.M.: Update regarding fire at Highland High School.