What is a bond issue?

Bonds are sold or “issued” by a school district to competing investors to raise funds to pay for the costs of a project. Many districts use bonds to finance facility needs because they are unable to address large capital projects within existing budgets. A majority of registered voters residing in the school district must approve a bond issue before a school district can issue bonds.

Once a school secures bond funding it uses these proceeds to pay for construction. The bonds are scheduled to mature after 20 years with principal and interest payments becoming part of the annual budget.

Why is the School District pursuing a bond issue now?

The board is placing this issue in front of the voters in 2026 for the following reasons:

• Addressing school and traffic safety is a growing and urgent priority for the school district.
• Reactive maintenance on HVAC and other critical facility needs is becoming expensive for aging equipment and affecting the District’s ability to manage budget and keep tax impact relatively low.
• Construction costs historically increase 3-4% per year. Addressing needs now can avoid increased costs in five to 10 years.
• The construction bid environment is competitive right now. A competitive bidding environment incentivizes bidders to make the most attractive offer to school districts, often resulting in cost savings or greater value for taxpayer dollars.
• Bond rates (interest rates paid on the bonds) have declined over the past two years. Just like today’s interest rates make now a better time to purchase a home than over the last few years, now is a better time to issue bonds.

What is included in Norris School District’s proposed facility improvement project?

Full Campus: Additional parking and traffic flow improvements

High School: Secure entrance, renovations to add/upgrade classrooms, handicap code upgrades to restrooms, new heating/cooling systems, roof replacement and vocational/industrial arts program improvements.

Middle School: Secured entry and drive loop modifications.

Elementary School: Secured entry and drive loop modifications, roof replacement, new heating/cooling system, and restroom remodel to meet handicap accessibility codes.

The District’s bond amount may not exceed $34,800,000 but may be lower. The exact bond amount will be determined once the project is bid and construction costs are final.

How was the project and bond amount determined?

The project scope was determined by the Norris School District Board of Education through a nearly two-year process that included the following steps:

• Board review/discussion of community feedback to determine final scope and bond amount
• Facility needs assessment conducted by architect/engineer
• District level review/prioritization
• Public steering committee feedback
  • All members of the public invited to participate in a public announcement
  • Reviewed/discussed needs, solutions and financial impact
  • Discussion and survey feedback to Board
• Board review/discussion of community feedback to determine final scope and bond amount

Will this bond issue affect property taxes?

The issuance of bonds can temporarily increase a school district’s annual budget to make bond payments. In Nebraska, public schools are primarily funded by property taxes. Property taxes also help schools make bond payments.

If the bonds were issued today in Norris School District, a $34.8 million bond for 20 years is estimated to raise property taxes by 9.5 cents per $100 of valuation. 

Please visit the Financials page to use the individual tax calculator to estimate your personal impact.

Why hasn’t the current budget been enough to address these facility needs over the last few years?

Norris Public Schools has worked to address the most urgent facility needs within its current budget over the years – including many of the needs identified in 2017 when a different bond issue was considered but did not pass.

However, Nebraska school districts are limited by statute on how much of their operational budgets can be applied to capital projects. A number of needs identified in 2017 remain, and new needs have surfaced.

Also, the School Board has worked to keep budget growth down to keep property tax burden as low as possible.

Why was the Norris Titan Activities Complex able to move forward when other facility needs were not pursued?

The Activities Complex was a critical need identified by student families for the School District in 2017. The project was designed to help address student and family safety concerns related to early morning and off-campus travel to practices.

The Complex is an example of one way the School District has been able to address facilities issues within its current budget. In-kind donations and short-term financing allowed this project to be completed without a 20-year bond issue.

Where can I go to get additional information on the bond?

The District’s goal is to provide information to all registered voters so they can make an informed decision on the bond issue. The district will be providing information in the following ways:

• Informational posts via the district’s social media
• Informational mailer sent to all registered voter households
• Informational booth at home games/events prior to bond issue
• Small group informational meetings throughout our district
• Open houses and tours
• The Norris Public Schools Superintendent or Board of Education members are available for questions. Contact us.