Bennington board calls special $112 million bond election for second high school; approves $2 million defeasance to cut debt

The Bennington Public Schools Board of Education voted unanimously Tuesday to call a special mailed-ballot election on March 11, 2025, asking qualified district voters to approve up to $112,000,000 in general-obligation school building bonds to finance construction of a second high school and related facilities. At the same meeting the board also approved redeeming portions of its 2019 general obligation bond series early, using about $2 million of general-fund cash to reduce future debt service by an estimated $410,089.

The bond proposal would fund a project with a total estimated cost of $124,645,829, according to the administration’s presentation. The planned new high school would be roughly 240,000 square feet on property near 180th and Military Boulevard. The district plans to apply roughly $12.6 million from reserves—primarily the special building fund—to lower the amount financed by the bond issue. District finance staff said the plan does not require a tax-rate increase; the board’s financial model assumes current bond levy collections can be maintained at about 35.8 cents per $100 of assessed value under the projected valuation growth scenarios used in the presentation.

Superintendent-level staff and finance advisers described the financing assumptions used in the presentation and noted that, under the model presented, the levy could support the proposed bonds without raising the bond levy rate this year. The administration told the board that, even under more conservative valuation growth assumptions, available reserves and scheduled drops in other principal payments give the district flexibility before any levy change would be necessary.

Public comment at the meeting included several speakers who urged voter support. Resident Rich Carlson said he was “highly, highly impressed” with the district’s annual report and urged voters to be informed when future bond questions come up. Resident Sherry Wood told the board she has three children in Bennington schools and said, “I don’t wanna see things get cut… I think Bennington has been very good for our family,” and encouraged passage of a new high school.

The board approved two separate resolutions by roll call: one to redeem portions of the 2019 general-obligation school building bonds prior to maturity and one to call the March 11, 2025 special bond election for up to $112,000,000. The early-redemption action targets callable 2019 series bonds with 4% coupons; staff and the district’s municipal advisor estimated the early payoff would use about $2 million of district cash and reduce long-term debt service by about $410,089. The motion to call the special election passed on a roll-call vote in which all board members present voted yes.

Board members who spoke during discussion framed the bond question as addressing capacity and program needs and noted the district’s recent efforts to pay down debt and manage reserves. Board President Allison Slobatsky and other board members said the board had solicited community input and reviewed financing options before placing the question before voters. The board also announced planned community informational meetings in late January and February and said an informational mailer would be sent to all district households before the election.

What happens next: approving the resolution simply places the question on the March 11 special ballot to be mailed to qualified district voters. If the bond measure is approved by voters, the district would proceed with the financing and construction planning described in district materials. If voters reject the measure, no bonds would be sold under this resolution and the district would retain current debt and reserve positions as presented at the meeting.

Votes and roll call: Jody Calderon conducted the roll call for the bond-resolution motion; the board recorded yes votes from Kristie (surname not specified in transcript), Joe (surname not specified), Steve (surname not specified), Allison Slobatsky (board president), Jeremy (surname not specified), Tim (surname not specified), and Christie Ryan; the motion passed.