Voters will get a chance to determine whether they will allow another mill on their property taxes through the 20-year payback plan for a new set of bonds to be sold to cover the cost of school expansion.

The Board of Education in their work session late Tuesday afternoon gave unanimous approval to approve a resolution to put forth to local voters coming up in the next potential Election Day on March 18, 2025.

Officials are seeking to gain additional funding for expanding area at current schools within the district by collecting 1 mill of property tax collections over the next 20 years to pay back bonds they’ll look to sell and gain upward of $34 million, with a 6% interest rate.

Superintendent Dr. Katie Thomas explained the need for the funding comes as E-SPLOST isn’t enough to cover the cost of needed expansion for already existing schools to ensure there is enough space for future student growth.

The funding would allow for projects like a new entrance to Westside Elementary and Cedartown High School to be completed, and a new cafeteria to be added to Eastside Elementary.

The bond resolution with the approval of the school board now goes to the Board of Elections for their approval, and then will be able to go onto the ballot for March special elections.

If approved by voters, the 1 mill collected over the next 20 years will be solely dedicated to paying back the bonds used for building expansion. The collections will end once the bond is paid back – which could occur sooner than the 20-year payback schedule should tax collections exceed estimates.

Thomas said the district has been looking for alternative funding to keep up with an expanding population in Polk County from east to west, increasing student populations at campuses and making it difficult to ensure that the needs for students and educators are being met.

She noted that E-SPLOST allows for many projects to be completed for school improvements – like new Fine Arts centers and upgraded athletics facilities – but doesn’t provide enough collections over the lifespan to help build new schools or cover the cost of additional classroom space.

It would take a combination of new E-SPLOST funds – which won’t be available for a new set until after the current run finishes in 2026, and has already been extended to 2031 and are paying off bonds already purchased – and the bond resolution to even consider new facilities.

PSD explored multiple options with previous and new board members, the budget committee, consultants and others to try and find new solutions, with the best so far being the bond resolution, Thomas noted.

Check back for more on this plus video from the work session for Monthly+ subscribers on Wednesday.