Deer Valley Unified School District administrators knew the financial reality should bond sale and maintenance and operations budget override initiatives fail at the ballot box this past November. Now that that’s come to pass, it’s time to figure out where to make cuts.
The district had asked voters for four potential bond sales to reach $325 million, with each sale going out 11 or 12 years into the future. Bonds projected to sell for approximately $80 million each were to be sold to investors who are repaid with interest over time from property tax collections, generally between 10 and 25 years.
The bond would not have increased property taxes.
