The proposed school bond renewal, if passed during the Nov. 3 election, would fund projects in the Gladstone School District focused on repairing and securing the community’s school facility investments.
The proposed $55.3 million bond is estimated to reduce the existing tax rate by $1.45 per $1,000 of assessed value and includes strict citizen oversight – every dollar goes directly to school facilities, not administration.
If the measure passes, the district would receive a one-time $10.2 million matching funds grant from the state of Oregon, making the total potential Gladstone school repair budget $65.5 million.
General obligation bond funds, and all district finances and expenditures, are subject to accountability measures including regular audits and School Board and citizen Budget Committee oversight to ensure funds are used as intended.
If the measure does not pass, the projects outlined in this video would not be completed and the current tax rate would expire.