GO Bond

General Obligation BOND

What is the Purpose of this Election?

On Tuesday, November 5, 2019, a General Obligation Bond question will be on the ballot that asks voters for authorization to issue up to $17,000,000 of additional bonds

Ballot Question

“Shall the Board of Education of the Alamogordo Municipal School District No. 1, County of Otero, State of New Mexico, be authorized to issue general obligation bonds of the District, in one series or more, in aggregate principal amount not exceeding $17,000,000, for the purpose of erecting, remodeling, making additions to and furnishing school buildings, purchasing or improving school grounds, purchasing computer software and hardware for student use in public schools, providing matching funds for capital outlay projects funded pursuant to the Public School Capital Outlay Act; or any combination of these purposes, said bonds to be payable from general (ad valorem) taxes and to be issued and sold at such time or times upon such terms and conditions as the Board may determine?”

What are G/O Bonds?
In order to provide and maintain adequate educational facilities, the Alamogordo Municipal School District utilizes General Obligation (“G/O”) Bonds.

State law limits general obligation outstanding debt to 6% of assessed value.  Bonds must be sold at public sale and delivered within four years of a successful election.  Voters will be asked to approve the issuance of $17,000,000 for capital improvements on Tuesday, November 5, 2019.

Will the New Bonds Increase My Taxes?
No, the new bonds will NOT raise property taxes.  The bonds will be sold at such times and in such amounts to maintain a stable tax rate. (Keep in mind that your tax bill may increase for other reasons, such as an increase in the Net Taxable Value of your property.)

How These Bond Proceeds Will Be Used
The question on the ballot asks voters to authorize the issuance of up to $17,000,000 in general obligation bonds. These funds will be used to design and build a new replacement facility for Chaparral Middle School. 

The current Chaparral Middle School facility has been assessed by the New Mexico Public School Facilities Authority, and has received an overall Facility Condition Index score of 78% degradation.  When this score was compared with all other New Mexico public school facilities grades K-12, Chaparral Middle School has ranked the number one highest need priority to be fully replaced in the entire state.

The State of New Mexico will pay for 60% of total cost of the new school. To be eligible for this state funding participation, the Alamogordo community must pay 40% of the total.  The new Chaparral Middle School is expected to cost around $40 million.  Therefore, Alamogordo needs to raise approximately $17 million through this G/O Bond election.  When combined with the State’s funding, our $17 million investment will purchase a $40 million school facility that will serve generations of Alamogordo residents.

Approval of this GO Bond on November 5th will not increase existing property tax rates, and will only maintain the current tax rate.  By voting in support of the Alamogordo Public Schools General Obligation Bond, our community will not only more than double their money to complete this project with state participation, but we will provide a modern, safe, and state-of-the-art middle school learning environment for almost 700 Alamogordo Public School students each year. 

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