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AASBO Bi-Monthly Meeting. BOND AND OVERRIDE MEETING REQUIREMENTS. September 14, 2011. Prepared by: Judy Richardson, Vice President 602.794.4012 [email protected]. Meeting Between Sept. 1 – Oct. 31. Reports are required for districts with: - PowerPoint PPT Presentation
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AASBO Bi-Monthly Meeting
BOND AND OVERRIDE MEETING
REQUIREMENTS
September 14, 2011
Prepared by:Judy Richardson, Vice [email protected]
Page 2
Meeting Between Sept. 1 – Oct. 31
Reports are required for districts with: Any kind of override in place for the
current year Capital outlay M&O K-3 or Special Program
Bond proceeds yet to be spent Applies to all bonds – Class A, Class
B, and Impact Aid Revenue Bonds
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Meeting Between Sept. 1 – Oct. 31
Updates can be done at a regular board meeting
The public must be allowed to comment Meetings on bonds and capital overrides
has been required since 1998 Meetings on M&O, K-3, and SP overrides
was added this year by HB 2421
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M&O, K-3, and SP Overrides
For each of the purposes listed in the voter pamphlet, report:The amount expended in the previous
fiscal year The amount included in the current
budget This may have to be a reasonable
estimate See ARS 15-481(Y) for details
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Bonds & Capital Overrides
Compare spending to date with capital improvements list in the voter pamphlet
“Capital improvements” means everything listed in the voter pamphlet Report not limited to construction, although
the words “construction” and “completion” are used
Compare current status and the original projections
Include cost of projects in progress or completed since the last meeting
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Bonds & Capital Overrides
Describe future capital plans of the school district
Report on use of State capital aid (SFB, Soft Capital, CORL)
See ARS 15-491(K) for bond requirements
See ARS 15-481(Y) for capital override requirements
