Declining Debt Level Two Bonds Currently Outstanding 1995: $3.972 Million with Last Payment in 2014 Current Annual Net Debt Service of $226,000 2003: $9.925 Million with Last Payment in 2017 Current Annual Net Debt Service of $543,456 Total Annual Net Debt Service $769,456 $8.165 Million in New Debt First Year Net Debt Service (2015/16) of $156,000 Subsequent Annual Net Debt Service $490,000
Tax Impact Annual tax over 15-year life of bond for average assessed house
Hillside Elementary Roof Replacement on the K-2 wing of the building 36 Univents to improve air quality and heating in classrooms Classroom and Fire Doors to meet current safety standards Floors of the All Purpose Room (large gym) and the lower wing Exterior Masonry – repointing of brick work Electrical Upgrade Ceiling and Wall finishes
Farragut Middle School Roof Replacement on the Middle School Auditorium Exterior Masonry – repointing of brick work and parapets Electrical Upgrade Boiler Burner – Replacement of 50-year old equipment
Hastings High School Roof Replacement on the Cochran Gym Renovation of the High School Auditorium including Seating, Lighting and Sound Systems, Flooring, Curtains, Rigging, and Stage Resurfacing Interior Ceiling and Wall finishes
Reynolds Field Install a Regulation 400-meter track Install a Geo-turf synthetic field Install a sidewalk on Chauncey Lane Replace bleachers in similar style Add 15-foot lights around track – NO stadium lighting Refinish all tennis courts (one being relocated) Relocate playground to grassy area south of tennis courts
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