North Summit School District leaders say the aging North Summit High School and its swimming pool need to be replaced.
To pay for new facilities, the district urged voters to pass a $121 million bond this November, but voters rejected it for the second year in a row.
The district said inflation and other economic factors mean the cost estimate of a bond will likely continue to climb. So, instead of asking voters to pass a bond again next year, the district issued a notice of intent Wednesday night announcing it plans to go forward with lease revenue bonds — even though they carry a higher interest rate.
To do that, the school board must create a “local building authority” to issue the bonds. It did that in 2024 after the bond failed at the ballot box the first time.
Effectively, LRBs are the district going into debt to itself and don’t need voter approval. They’re paid off with property tax money — the same funding mechanism as a voter-approved bond.
Board member Kevin Orgill said in hindsight, he wished the group had issued LRBs last year.
“We made it very evident through this process that this is what we got to do. It's not a want, it's a need,” he said.
Board members Susan Richins and Maggie Judi said the LRBs will ensure the safety of future students. Board President Vern Williams said safety is the number one priority, but new facilities will also improve learning opportunities.
“Our youth are our future, and [it’s] pretty hard to put a price on that,” he said. “I know it's going to be a hardship for everyone. We all pay taxes … but somebody did it for me, and hopefully we can do it for them, they'll turn out better than I am.”
Business Administrator Marci Sargent thanked the board for making a tough decision.
“We're running an old building that's inefficient and we're wasting money,” she said. “Just this week, we've had a heating coil in the welding shop go out, so we're putting money into a building that needs to just be moved from.”
The board plans to issue the LRBs at its next meeting Dec. 3 during a public hearing. Locals are welcome to attend and provide feedback.
Preliminary plans show the new North Summit High School would be built on district-owned property southwest of the Coalville Cemetery. Once the new high school is completed, the old one will be torn down and the new pool will be built in its place.
