PDN to host Q&A with School District

If you are among those curious about a bond referendum for school construction set for the November ballot, you are not alone. 

The Palatka Daily News has questions, too, so next week, this newspaper will be hosting a Facebook Live interview with leaders in the Putnam County School District to help answer questions about the bond referendum that aims to improve elementary schools, the state grant program that aims to help rebuild high schools, and the master plan for schools that brings all these elements together.

This newspaper's staff want to make sure Putnam County voters are crystal clear on the district’s master plan.

"It's clear that this issue will require more than a news article to help inform voters," said Daily News Editor Casmira Harrison. "And the district has been kind enough to help us make sure people are thoroughly informed."

On Wednesday, Superintendent Rick Surrency agreed to gather together the leadership at the district sometime in the coming week. While no date and time was affirmed as of Wednesday, Surrency felt the social media event would help people understand the multifaceted issue better.

"I think it'll be a good information sharing session," said Surrency. "I'm looking forward to it."

The Daily News will publish a precise date and time closer to the event. Readers and online viewers will be encouraged to submit topic-related questions during the live stream.

The basics of the schools plan

The Putnam County School District has grand plans for a complete overhaul of schools here. To do that, the district needs funding.

Area high schools are expected to be rebuilt largely with Special Facilities Grant funding from the state Department of Education. The first school on that list is Crescent City Junior-Senior High School. The District has requested the funding from the state and is awaiting a response from Tallahassee as to whether the school construction will be funded or not. District leaders have told the Daily News they are confident in that funding stream.

If successful, other area high schools are expected to be funded this same way, within annual grant funding cycles.

The bond referendum, if voters agree to tax themselves for schools this November, would help to rebuild Putnam County’s elementary schools. 

If more than 50% of Putnam County voters this November agree to fund the district’s plan for new buildings, the action would allow the district to apply for several general obligation bonds, with 30-year terms each, that would total $300 million. Since it is a series of bonds, rather than a single bond, that leaves open the possibility that taxpayers could be paying back the debt up to 30 years after the final bond is issued.

Essentially, the bonds are loans that voters promise to pay back over time so that the district can overhaul the schools. The loan payoff would be funded through additional property tax assessments for a finite length of time, depending on the value of a property and the number of landowners contributing to the total debt reduction.

If approved, the district would begin with a $50 million bond for a 30-year term and follow up with additional bonds, as needed, so as "not to saddle taxpayers with the full cost of a $300 million bond up front," said Rhonda Odum, chief finance officer for the district. That would also allow the district to refinance if interest rates drop over time, Odum said.

The ballot question is as follows:

“Shall the School District of Putnam County fund construction, renovation and replacement of public school facilities throughout the District, including implementation of safety enhancements and instructional technology upgrades, by issuing general obligation bonds in multiple series, in a total principal amount not exceeding $300,000,000, bearing interest at not exceeding maximum legal rates, maturing within thirty years, and secured by the full faith and credit and ad-valorem taxing power of the District?”

For Bonds ____

Against Bonds ____