A bond referendum is a type of ballot measure where voters are asked to approve the issuance of bonds by a government entity to finance a specific project. In this case, that project is the completion of the athletic facility for the MHS construction project (please see additional information for specifics included in this project).
Furthermore, in a bond referendum, voters are asked to approve a specific amount of money to be raised through the issuance of bonds, as well as the purpose for which the funds will be used. If the bond referendum is approved, the school district is then authorized to issue bonds to finance this project.
The bonds are then repaid over a period of 30 years. Bond referendums are commonly used by school districts to fund large infrastructure projects that would be difficult to finance through traditional budgetary means.
For more information, visit our FAQ page.