To get the needed $100 million, school officials are banking on taxpayers approving an extension of the seven-cent sales tax in November. That revenue would start at $7 million in the first year and build to the end of the 15-year tax life.
School officials estimate they would be able to bond that projected revenue, using future tax receipts as collateral, into a $150 million for construction purposes.
If taxpayers reject the sales tax extension, the tax reverts back to six cents on every dollar's worth of purchases and puts the district in a bind on future construction work.
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