Transcript What is the difference between the Bond and the Mill?

What is the difference between the Bond and the Mill?
In previous ballots, DPS has often pursued both a General Obligation Bond and a Mill Levy Override. If
the CPAC recommends to do so, these must appear as separate ballot questions
General Obligation Bond
Mill Levy Override
Funding Source
Property taxes
Property taxes
Scope of Funding
Solely within our district
Solely within our district
Summary of
Investments
For acquiring, constructing, or improving
any capital asset that the district is
authorized by law to own
May be used for operating expenses or
capital expenses as the district sees fit
Allowable
Investments
New schools
Building improvements / renovations
Land purchases
Equipping or furnishing a building
Charter school capital construction
Technology
Restricted
Investments
Operating expenses (Teachers,
supplies)
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Anything is allowable, DPS has
historically used the funds for:
Teachers
Textbooks
Technology
None
What is the statute and history of DPS initiatives?
Bond Statute
 Districts are limited in the amount of bonds they can raise through local district bonds
based on the latest assessment valuation. For Denver, the bonded debt limit is roughly
$4 billion. Currently, DPS has roughly $1 billion in debt outstanding, leaving up to $3
billion available for additional authorization.
Previous Bond
Issuances
 In 2008, Denver citizens voted 2-to-1 to authorize $454 Million in general bond
obligations, the largest issuance in the history of the district.
 In addition to 2008, there have been three other recent authorizations:
- 2003: $311M authorization
- 1998: $305M authorization
- 1990: $200M authorization
Previous Mill Levy
Override
Issuances
 In 2003, Denver citizens approved a $20 Million mill levy override with 60.0% of the vote
 In addition to 2003, there have been three other authorizations:
- 2005: $25 Million (ProComp)
- 1998: $17 Million
- 1988: $12.1 Million
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