Fairbanks voters to decide school bond

Posted: Tuesday, September 29, 2009

FAIRBANKS - Fairbanks voters will see a school bond issue on the October municipal ballot.

The Fairbanks North Star Borough School District is asking voters to approve a $12 million bond for maintenance projects at five schools.

The Fairbanks Daily News-Miner reported the state regularly reimburses communities for 70 percent of bond-funded improvements, leaving 30 percent to be repaied through property taxes.

Assistant Superintendent Dave Ferree says the bond will cost property owners $4.13 per $100,000 in value.

Fairbanks voters approved a $24 million school construction bond package in 2006. The community still holds $14 million in bond debt.

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