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the referendum. At certain board meetings, there are opportunities for the <br /> Board to change the bond referendum plan if they deem necessary. Then <br /> the bond purpose and "not to exceed" amount will be set on April 2"d. The <br /> purpose or"not to exceed" amount cannot be changed after that point. <br /> Next the Board will appoint a Bond Education Committee. Staff will work <br /> with the LGC to apply for the bond and set public meetings working toward <br /> a November 5th bond referendum. <br /> Bonnie: What assumption should School Districts be using for Capital <br /> Budget Planning? With Capital Budgets being due soon, what should they <br /> be planning in terms of shovel readiness for bond projects? What is the <br /> bond number? Heard $140M, is that correct? Are we to continue to <br /> capitalize maintenance? Are we going to be funded separately? <br /> Travis: The current capital investment plan represents a $130m bond but <br /> this timeline sets us up to determine what the final amount will be. Will <br /> have general scenarios at the December 12th meeting for the Board to <br /> consider. Those will have both tax rate and debt to revenue policy <br /> implications. Will create different scenarios between December 12th — <br /> January 16th as directed. Then we can set out tentative plans. There is room <br /> for refinement in March as we get more and improved information, <br /> including revenue projections. As we get closer to the introduction of the <br /> capital investment plan, the better information we will have. <br /> Kirk: We have not asked the school districts for their CIP submission at <br /> this time. We will be sending out CIP request and ask that they prioritize <br /> capital year 1 projects that need to get done before the bond kicks in. <br /> Rani —Are we looking at a total pool of funding consideration or are the <br /> county projects prioritized? <br /> Travis: The County Facility Master Plan was presented to the Board last <br /> week. Over the same 10-year period, that is $130m. We will layer the <br /> county,school,and school bond referendum plan to see the amount and then <br /> we can make changes. <br /> Jean: Asked for all of this to be presented at one time for ease of decision <br /> making with limited funds. <br /> Al: Is it safe to say that we will see a tentative amount for the school <br /> improvement category, at least for Article 46, so they can start planning as <br /> in the past. Same for deferred maintenance money so districts can do some <br /> items that need to continue regardless of timing on referendum approval. <br /> Kirk: yes, that information will be in the current CIP <br />