By Nicole Thomas
The Starkville Oktibbeha Consolidated School District Board of Trustees approved a resolution seeking bond funds that does not require a tax increase to help pay for the construction of a new sixth and seventh grade partnership school during a special called meeting today.
“It’s a historic day, not only for our school district, but for our state,” School Board President Jenny Turner. “This is an incredible opportunity for our district and Mississippi State University to partner to build a school that promises to impact the future of education.”
With the payoff of general obligation bonds during the 2015-16 fiscal year, the District has the ability to issue up to 2.9 mills without raising taxes to secure the remaining funds required for the project through a reverse referendum.
The sell of the proposed bonds is expected to generate $16 million. Those funds would be used to build the proposed sixth and seventh grade school in conjunction with MSU, along with roads, parking lots, and other facility needs associated with the project. Funds would also be used to purchase technology and other equipment for the new school. Any remaining funds would be used to address other projects within the school district to accommodate consolidation.
During the legislative session, lawmakers approved $10 million over two years for the school as part of the 2016 bond bill package. MSU has already pledged $10 million toward the project, which includes 42 acres of land for the school site located at the entrance to campus off Highway 182. The local contribution of $10 million is required to secure the remaining $5 million from the state.
The local funding, which is available at the current tax rate with no increase in taxes, is the final revenue source required to move forward with construction of the school.
For more information about the Partnership School and the opportunity it will provide for all sixth and seventh graders in our new District, click here.