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Post by wantaghmember on Jun 25, 2008 16:37:13 GMT -5
I would like to ask again, does anyone know if it legal to use some funds from the bond just passed to close the gap we're facing? Both the contractors and district factored a cushion into the bond for "just in case" situations. Does anyone know who to ask?
I agree with what many of you are saying about the district's response and I am with you on solving the current crisis, but we must have someone or a group keeping their eye on next year or we'll end up in the same scenerio.
The district didn't hear the community's response when it first voted the bond down. They relaxed when all 3 segments passed the second time. Just as we're rallying now, so will the naysayers on the next budget.
Remember, 2.7% of the budget is to pay down the debt on the 3 bonds. That's why I ask if anyone knows when and how much the first bond was for and when does it expire. That could free up potentially 1% of the budget.
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Post by wantaghinmyheart on Jun 25, 2008 21:36:20 GMT -5
Wantaghmember- As far a we were told a BOND can only be used for the project that was preapproved by the State Education Dept. You CANNOT use that money for any other purpose. There are specific guidelines and they must be met. If monies are left over when each project is complete they are returned to the tax base.
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Post by wantaghmember on Jun 25, 2008 22:34:41 GMT -5
Wantaghinmyheart, thank you for responding. If that is the case, then I hope someone is keeping tabs on the current projects and how the monies are being spent. The jobs need to be done, and done correctly, but any ornamentation can be stripped down - enabling us to return money to the tax base and thus lowering our debt. That boils down to the board being able to ask for a lower budget next year.
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