School Board anticipating $25 million bond income to help trigger campus improvements

By JIM BUTLER

Rapides School District 62 will be back in the bond market Tuesday as the final phase of a $100 million upgrade nears.

The School Board’s bond counsel said the $25 million realized from the sale should be in the district’s account by April 18.

Proceeds from the bond issue approved by voters in Wards 1, 2 and 8 in 2022 are being used for everything from athletic fields to auditoriums.

The ward’s three high school feeder systems – ASH, Bolton and Peabody – are getting extensive renovations, replacements and additions.

Proceeds from a 15-mill property tax will retire the debt.

District 62’s property tax total is 23.52 mills, the other 8.52 being maintenance levies.

The board has no system-wide construction and/or operating property tax implemented at the parish level.

Its parish-wide taxes include 4.83 mills provided all systems by the state constitution and three voter-approved maintenance taxes totaling 21.74 mills.