HMS Project Budget

HMS Budget Summary Report from Owner's Representative Kerry Leonard
Updated: December 2017

Bond Sale / Taxpayer Impact

PMA Financial Network Senior Vice President Robert Lewis was present at the Board meetings on June 6 and June 12, 2017 to discuss various scenarios the Board could consider for the sale of bonds following successful passage of the November 2016 HMS Referendum. Board members, Mr. Lewis, and Superintendent Dr. Don White discussed the benefits and risks of the options, as well as how best to manage the bond sale should the project come under budget. On June 12, 2017, the Board supported what Mr. Lewis referred to as Option 3A, which involves selling $43.6 million in bonds in the summer of 2017 (now complete) and selling the balance in 2018 as bank qualified (BQ).

We invite you to read “HMS Referendum Bond Sale Cost and Tax Impact” - a document that provides a comprehensive overview of the anticipated tax impact for homeowners with updated figures now that the first of two bond sales is complete. We have also outlined how these figures compare to pre-referendum estimates. The format of information is the same as pre-referendum communications that were shared with the community to create a consistent, transparent tool for understanding this important information.