The Park City School District has a $130 million plan to overhaul its schools. Last fall, the community seemed to support that plan, voting overwhelmingly to borrow nearly $80 million.
The bond’s passage — though it had a nearly two-to-one margin of victory — was not a sure thing. School bonds have failed repeatedly in recent years in Wasatch County, South Summit and, in 2015, in Park City.
But Park City voters won’t be asked to weigh in on the district’s next round of bonds.
In a special meeting Tuesday, the Park City Board of Education is set to discuss borrowing $42 million — almost the entire remaining budget for its facilities overhaul.
That’s nearly the amount Park City voters rejected in 2015: $56 million.
The school district has long planned for this type of debt to help finance the project. In late 2020, the Board of Education gave itself the power to issue lease-revenue bonds, which do not require voter approval.
Officials at the time said there were benefits to diversifying the funding sources for such a large set of projects, and that lease-revenue bonds would enable the district to more nimbly pursue smaller parts of the overall plan. They also said the bonds could be paid back with more diverse funding sources, including existing tax revenues or contributions from outside entities.
The strategy also reduced the amount of debt the district asked voters to approve at the polls.
The Board of Education meeting is scheduled to start at 2 p.m. at the district offices, 2700 Kearns Blvd., and to be streamed on YouTube. The bond discussion is the only topic on the agenda.
The $129 million facilities plan includes six projects. It would integrate 9th grade into the high school, move 8th grade into Ecker Hill Middle School and expand the elementary schools to offer pre-K and other programs.
Business Administrator Todd Hauber said construction on the first phase, which includes extensive work on the high school, is expected to begin when school lets out in early June. He said construction equipment may start arriving in the weeks prior.
