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$20M bond election in November for Apache Junction school district

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Voters living in the Apache Junction Unified School District will decide Nov. 5 whether to approve $20 million in school improvement bonds.

The AJUSD governing board on May 28 voted 3-0 to adopt a resolution calling for a special bond election to be held for the district in November. Board members Bobby Bauders and Cami Garcia were absent from the May 28 meeting.

The bonds are to fund furniture, technology and equipment, such as repairing roofs that leak and installing cameras at elementary schools, according to an April board discussion.

No decision was made May 28 on the tax rate or the term — how many years property owners will pay taxes to pay off the bonds.

AJUSD on March 8 filed a notice of election for candidates and a bond measure on the Nov. 5 ballot, according to the website of the Pinal County School Office. June 21 is the deadline for a school district to call for a November election, it states at the website.

“I would say at this time that since the time to call for a vote on the bond is fast approaching, I think we should do a resolution for a bond in the amount of $20 million at this time to do the items that we have discussed over the last several months that need to be either refurbished, planned for and/or security updates for the November election,” Superintendent Robert Pappalardo said at the May 28 meeting,

“What this is saying is you are going to ask the voters to approve a $20 million bond in November of 2024. The term has not been decided — how long that bond is going to be,” he said.

The last bond that AJUSD passed was in 2004 and was for $49,850,000. The outstanding principal on that bond is $6,725,000 and it should be paid off in July 2025, Stifel, Nicolaus Co. Inc. Managing Director Bryan Lundberg said during an April 9 work session, according to the minutes of the meeting. Stifel has been engaged or appointed to serve as an underwriter or placement agent.

Richard H. Dyer can be reached at rdyer@iniusa.org, or on X @rhdyer. To voice your opinion on this story, connect with us at AzOpinions@iniusa.org.

AJUSD, bonds, election

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