What bonds are paying for

Posted: Sunday, October 05, 2003

Juneau's bond debt for school construction and other public-works projects is approaching $123 million. Not all the debt will accumulate at the same time, and about half the total is scheduled to be reimbursed by the state. Some of the amounts listed below are different from the amounts listed on the ballot because some bonds have been split, with some sales made and others pending.

Here's what the bonds pay for:

• Current debt, $30.8 million: Includes $16 million for Juneau-Douglas High School renovation and planning for the new Dimond Park high school, authorized by voters in 1999. Other bonds in the total cover school projects dating back to 1994 and the remainder of a 1968 hospital project.

• JDHS renovation, $12.5 million: The sale of bonds was approved by voters in June.

• New high school at Dimond Park, $59.5 million: Bond sales were authorized by voters in 1999. The Juneau Assembly authorized $20 million in sales in August. The remaining $39.5 million could be sold next year.

• Auke Bay commercial vessel loading facility, harbor improvements, and water and sewer improvements, $13.25 million: The projects were authorized by voters in 2002 with $15 million in bonds. Bonds for $1 million, which is part of the $30.8 million in outstanding debt, were sold in February this year. The remainder was reduced from $14 million after the city won a $750,000 state grant for some of the work.

• Floyd Dryden Middle School and Harborview Elementary School work, $6.945 million: If approved in Tuesday's election, bonds would be sold at a later date.



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