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Deming Public Schools reviews bond and ETN election scenarios to preserve current tax rate
Summary
RBC Capital Markets presented three election scenarios to the Deming Public Schools board, including a November GO bond and annual education-technology notes (ETNs). The options aim to maintain the district—s current debt service tax rate amid a projected $14.1 million drop in assessed valuation from veterans— exemptions.
Deming Public Schools board members on Thursday heard from a financial advisor about three options for voter-authorized debt that would allow the district to maintain its existing debt service tax rate without increasing property taxes.
RBC Capital Markets outlined scenarios ranging from a single general-obligation (GO) bond election this November to a combination of annual education-technology notes (ETNs) and later GO bond elections designed to keep the debt-service tax rate at the district—s historical $5.75 level. "We would want the district to approve the resolution for the election by your July meeting," the RBC representative said during the presentation.
The proposal matters because recent projections incorporate a veterans— exemption that RBC said will reduce the district—s assessed valuation (AV) by about $14,100,000, or roughly 2 percent. RBC told the board the firm used conservative estimates for that change…
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