Casa Grande Elementary Board reviews bond scenarios, delays authorization pending polling

The Casa Grande Elementary District (4446) Board of Education on Monday held a special study session to review potential ballot measures for a future bond election and heard three funding scenarios without taking any authorization vote.

Dr. Lecky, district staff, opened the presentation by telling the board, “We’re not voting on authorization tonight, so this is just really informational and discussion for the board.” The board heard technical and financial briefings from Megan Burke of Stifel (financial advisor), Jim Geal of Gust Rosenfeld (bond and election counsel), Kevin Hagerty (interim CFO) and Tim Mace (facilities director).

The presentations showed the district’s current fiscal position, how state assessment rules are affecting future property value growth, and how different bond amounts would change projected tax rates. District staff summarized three example authorizations — roughly $45 million, $52 million and $60 million — and proposed capping the additional bond-related tax rate at 59 cents per $100 of assessed value in the scenarios shown to the board.

Why this matters: a successful bond would fund district capital needs such as facility repairs and short-lived assets (technology, furniture, buses) but would change property-tax bills for residents. Presenters said the district’s statutory bonding capacity (10% of full cash value for an elementary district) is approximately $79 million today; outstanding principal from the 2016 authorization is roughly $32 million. The 2016 authorization originally…