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    Chamber of Commerce Endorses APS Funding

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    The Greater Albuquerque Chamber of Commerce endorsed a $616 million mill levy and bond package for Albuquerque Public Schools that will appear on the February 2, 2010 ballot. The funds would be used to renew, refurbish, and rebuild 143 of the 162 existing schools in the district, most of which are over 40 years old, as well as provide $50 million for new educational technology. The Chamber supports improving school facilities to create a world-class education system available to all students.

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    Chamber of Commerce Endorses APS Funding

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    The Greater Albuquerque Chamber of Commerce endorsed a $616 million mill levy and bond package for Albuquerque Public Schools that will appear on the February 2, 2010 ballot. The funds would be used to renew, refurbish, and rebuild 143 of the 162 existing schools in the district, most of which are over 40 years old, as well as provide $50 million for new educational technology. The Chamber supports improving school facilities to create a world-class education system available to all students.

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    The Greater Albuquerque Chamber of Commerce endorsed a $616 million mill levy and bond package for Albuquerque Public Schools that will appear on the February 2, 2010 ballot. The funds would be used to renew, refurbish, and rebuild 143 of the 162 existing schools in the district, most of which are over 40 years old, as well as provide $50 million for new educational technology. The Chamber supports improving school facilities to create a world-class education system available to all students.

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    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    40 views2 pages

    Chamber of Commerce Endorses APS Funding

    Uploaded by

    apsARCHITECT
    The Greater Albuquerque Chamber of Commerce endorsed a $616 million mill levy and bond package for Albuquerque Public Schools that will appear on the February 2, 2010 ballot. The funds would be used to renew, refurbish, and rebuild 143 of the 162 existing schools in the district, most of which are over 40 years old, as well as provide $50 million for new educational technology. The Chamber supports improving school facilities to create a world-class education system available to all students.

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    Greater Albuquerque

    Chamber of Commerce
    BOARD POSITION Action: Approved
    Date: December 10, 2009

    POSITION

    The Board of Directors of the Greater Albuquerque Chamber of Commerce endorses


    the proposed $616 million mill levy and bond package for the Albuquerque Public
    Schools that will appear before voters on Feb. 2, 2010. This capital improvements’
    package includes a $391 million mill levy and $225 million general obligation
    bonds’ commitment that will underwrite a majority of a five year capital master
    plan. The $616 million will meet the needs of all Albuquerque Public Schools at no
    increased cost to taxpayers.

    The majority of the $616 million dollars will be used to renew, refurbish and rebuild
    143 of the 162 existing schools (most of these are over 40 years old). The remainder
    of the money, approximately $50 million, will be used to provide new educational
    and instructional technology.

    The Chamber’s goal in our education reform effort over the last 10 years has been to
    create a world class education system where every child, regardless of
    socioeconomic status, can be effectively educated. Contemporary modern facilities
    are critical to the world class education system we want to see in place to benefit
    every child.

    BACKGROUND

    APS adopted a comprehensive Capital Improvement Master Plan as a result of a


    previous ballot election in 1988. Since that time, APS has determined capital needs
    in five year cycles. APS is at the end of the current Capital Strategy and is at the
    beginning of the next strategy starting in 2011. The projects funded and completed
    during the prior cycle’s Capital Strategy were completed on time and in budget. All
    obligations from the approved project list in 2005 are either completed or have
    begun.

     115 Gold Avenue SW, Albuquerque, NM 87102  (505) 764-3700  (505) 764-3714 
    Greater Albuquerque
    Chamber of Commerce
    BOARD POSITION
    On February 2nd, 2010, voters will be asked to approve a $391 million dollar mill levy and a
    $225 million dollar general obligation bond issue for a total of $616 million dollars of tax
    revenue which will be used to fund the majority of the $842 million dollars of projects
    included in the 2011-2016 Capital Strategy. Approximately $226 million of the $842
    million required to implement the 2011-2016 Capital Strategy will be submitted to the voters
    for approval in future elections. The 2011-2016 detailed Capital Strategy is attached that
    lists the $842M worth of projects for the five year period.

    The mill levy question will ask voters to approve the continuation of a property tax of
    $3.874 for residential property and a $4.344 for non-residential property per each $1,000.00
    of net taxable value of property for tax years 2010-2015. This tax will be a continuation of
    existing taxes, not an increase in taxes. The purpose of this mill levy will be for erecting,
    remodeling, making additions to, providing equipment for or furnishing public school
    buildings, lease payments with an option to purchase, purchasing or improving public school
    grounds, administrating the projects undertaken as long as those administration costs do not
    exceed five percent of the total project cost.

    The General Obligation bond question will ask voters to approve APS to issue $225 million
    of general obligation bonds to erect, remodel, make additions to and furnish school buildings
    within the district, to purchase or improve school grounds, to purchase computer software
    and hardware for students use in public schools, and to provide matching funds for capital
    outlay projects funded pursuant to the Public School Capital Outlay Act.

    APSCapitalMasterPla
    n2011to2016Strategy.pdf

     115 Gold Avenue SW, Albuquerque, NM 87102  (505) 764-3700  (505) 764-3714 

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