Voters to decide transportation bond for Cement Public Schools - KSWO 7News | Breaking News, Weather and Sports

Voters to decide transportation bond for Cement Public Schools

CEMENT, OK (KSWO) –Polls are open from 7 a.m. until 7 p.m. Tuesday for voters in the Cement school district.

Voters have the chance to decide on a $300,000 bond to help the district purchase new transportation equipment.The district says their current fleet of vehicles includes three school buses from 2004, an AG truck with more than 220,000 miles, a driver’s education car, an SUV and a van. The vehicles have at least 112,000 miles each and the district spent at least $28,000 in maintenance in 2015 alone.

It’s been 11 years since Cement Public Schools passed a transportation bond.

The bond, if passed, would be paid through an increase in property taxes within the Cement School District. They say if a resident paid $100 in property tax in 2014-2015, they would pay approximately $106.95.

The bond reads as follows:

Shall Independent School District Number 160 of Caddo County, Oklahoma, incur an indebtedness by issuing its bonds in the sum of Three Hundred Thousand Dollars ($300,000) to provide funds for the purpose of purchasing transportation equipment and levy and collect an annual tax, in addition to all other taxes, upon all the taxable property in such District sufficient to pay the interest on such bonds as it falls due and also to constitute a sinking fund for the payment of the principal thereof when due, said bonds to bear interest not to exceed the rate of ten (10%) percentum per annum, payable semi-annually and to become due serially within five (5) years from their date?

We’ll have the results as they come in at kswo.com.

Copyright 2016 KSWO. All rights reserved.

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