Facing criticism, Alpine School District may back away from $175M lease revenue bond

A district spokesperson said the Alpine District’s school board members are exploring other ways to fund a new high school in Saratoga Springs — but a lease revenue bond isn’t off the table.

In 2022, voters shot down a $595 million general obligation bond proposal that would have funded the new school and other initiatives. With the lease revenue bond, Alpine School District was going to “issue debt whether their voters want it or not,” the Utah Taxpayers Association said in a statement posted on its website.

Alpine issued a $31.8 million revenue bond for Desert Sky Elementary in Eagle Mountain and the district’s West Transportation Center in 2022. Last year, it issued one for $81.8 million for a middle school in Eagle Mountain and portable classrooms.“Rather than engage in the proper process to dispute or amend the bill, the Alpine School District decided to defy it and saddle taxpayers with unwanted additional debt,” the Utah Taxpayers Association’s website said.

Utah school districts can levy several types of property taxes, which have different rules. General obligation bonds are paid for through a debt levy and a district’s debt fund. Lease revenue bonds are paid for through a capital levy and the district’s capital fund.

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