Chico School Board hires financial firm

Sep 17, 2015 7:21 PM by News Staff

A new school bond measure for Chico voters is in the works.

Last night, the Chico Unified School District agreed to hire an outside financial firm to help the district pay for more than $300 million in long term facilities needs.

Three years ago, voters living within the district gave district officials the authority to raise up to $78 million in school bonds for projects, many of which are now underway.

Those 2012 bonds add about $110 in property taxes for a typical Chico home.

Now district officials say as the state is placing most of the financial burden on local school districts for facility improvements, local districts need to plan even further ahead when it comes to finding the most economical ways to pay for critical needs in the future.

Any new school bond plan will have to be approved by the voters.


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