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Committee reviews life‑safety bond option that could fund identified safety work; example shows $75 annual impact on a $300,000 home
Summary
Administration briefed the committee on a new state law allowing health and life safety bonds outside PTELL/DSEB limits when supported by a life safety survey; administration said the district's audit lists about $1.5 million in remaining work and used a $10 million example that would raise taxes about $75 annually on a $300,000 home.
Administration outlined how new state legislation (effective July 2024) authorizes health and life safety bonds that bypass PTELL and DSEB limits when used only for qualifying safety‑related improvements shown in an approved life safety survey. District staff said the method is limited to fire prevention, structural, health, security and code deficiencies and includes taxpayer safeguards.
Administration used an example to illustrate taxpayer impact: "a $10 million, 10‑year life safety bond would result in an estimated $75 annual tax increase on a $300,000 home." Staff also reported the District's life safety audit currently identifies about $1.5 million in remaining work (some already addressed) and noted the District's borrowing capacity is constrained by prior general obligation debt. No action was taken; the briefing was provided for planning and prioritization.
