The Board of Education recognizes the significance of providing school buildings that enhance the district’s educational program. In order to provide financing for capital improvements, a bond issue election may be conducted pursuant to Missouri state statutes.
In accordance with the provisions of the Missouri Constitution, Article VI, Section 26(b), the St. Louis Public Schools may become indebted in an amount not to exceed 15 percent of the value of such taxable tangible property. The vote required shall be four-sevenths at the general municipal election day, primary, or general elections and two-thirds at all other elections.
The tangible property value in the City of St. Louis shall be determined by records maintained by the office of the city assessor. Property values are published yearly in the comptroller's report prepared after the close of the city's fiscal year.
The Board of Education shall provide the St. Louis Board of Election Commissioners with written notice of the scheduled bond issue election not later than 5:00 p.m. on the tenth Tuesday prior to the election, pursuant to 115.125 RSMo.
Upon receipt of notice, the St. Louis Board of Election Commissioners shall give public and legal notice of the election, pursuant to 115.127 RSMo.
Legal: Mo. Const. art. VI, Sec. 26(b); Sections 115.125, 115.127 RSMo.
Policy adopted: July 24, 2001