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Bill would let school districts use voter-approved levy revenue to front fund new school construction
Summary
House Bill 1796 would permit school districts that have passed a capital levy to issue limited general obligation bonds for new building construction within existing indebtedness limits, enabling districts to front fund projects and potentially avoid higher future construction costs.
Committee staff John Wilson Tapelli briefed the Capital Budget Committee on House Bill 1796, explaining current law limits school-district indebtedness within a statutory cap (0.375% of taxable property value) and allows limited general obligation (LGO) borrowing for certain capital purposes but generally excludes new building construction from that authority. Under the bill, districts could issue LGO bonds within their current indebtedness limits to fund erection of…
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