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Tempe Elementary board approves $40 million bond sale, orders $196.5 million bond election for November
Summary
The Tempe Elementary School District board approved the sale of $40 million from a 2022 voter-approved bond authorization and adopted a resolution to place a new $196.5 million bond question before voters in November 2025 to fund school rebuilds, energy upgrades and electric buses.
The Tempe Elementary School District Governing Board voted Wednesday to approve the sale of $40,000,000 from the voter-authorized 2022 school improvement bond and to call a special bond election in November asking voters to authorize an additional $196,500,000 in bonds.
Board President Ewers and district staff said the funds will pay for energy-efficiency projects, electric buses and initial work on large rebuilds including the Curry and Connolly projects. Chief financial officer Eric Thompson told the board the Curry and Connolly work is likely to total about $150 million, and that the newly approved $40 million sale is one step in a staggered financing plan approved by voters in 2022.
District financial advisor Megan Berg of…
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