I guess I don’t understand the “new math and new financing methods.”
Old math calculates that the Bethel School District wants to spend approximately $29 million (12 percent) of the $236.7 million bond issue to build a luxurious aquatic center.
The Sports Management Group presented to the Bethel School Board an extensive study in April 2014 that indicates the annual expenses ranging between $3.5 and $3.7 million will exceed the estimated revenue, ranging between $2.5 and $3.2 million. They estimate that the school district will be required to cover the loss estimated between $500,000 and $1,262,000 each year.
How does the Bethel School Board plan to fund the losses? Will it be necessary to pass another bond issue to raise the money? If there is a shortfall in the estimated revenue, the loss will be even greater. It is difficult to reduce the operating expenses for the aquatic center.
I would have voted for the bond issue if the aquatic center was excluded. I must vote no again on the bond issue.