A BRIEF HISTORY OF: Bond debt at Columbia Public Schools

In 2007, a sudden jump from a long-running average 

 

COLUMBIA, 3/31/12  (Beat Byte) --  Debts that Columbia Public Schools uses for construction and other tasks are packaged and sold to investors in the form of bonds that must be repaid.   A 20-year history of bond debt at CPS shows an average $20.2 million every two years from 1992-2007.   During that 15-year period, CPS built four new schools and expanded Rock Bridge High School, all for $41 million. 

After 2007, bond debt shot skyward.  So, apparently, did the cost of building a school.  Here's a look at the history, culled from news reports and CPS records.   


1992 -- $15 million bond, including $7.2 million to build Gentry Middle School.

1994 -- $12.6 million bond, including $7.5 million to build Smithton Middle School.

1996 -- $12.75 million bond, including $8.3 million to build Lange Middle School.

1998 -- $19.9 million bond including $7.8 million to expand and renovate Rock Bridge HS.

2000 -- $35 million bond, including $10.7 million to build Paxton-Keeley Elementary School.

2002 -- $23.8 million

2004 -- $22.5 million

Now, bond debt is doing this:

2007 -- $60 million, including roughly $40 million to build Alpha Hart Elementary

2010 -- $120 million, including roughly $80 million to build Battle High.

Voters will be asked to approve:

2012 -- $50 million

2014 -- $50 million

Future plans call for:

2016 -- $40 million

2018 -- $40 million

2020 -- $40 million


RELATED:
http://www.columbiaheartbeat.com/index.php/cps/99-0112124
http://www.scribd.com/doc/82629006/CPS-10-Yr-Bond-Plan