by Skip Hackworth, Superintendent of Mineral County Schools

This article details the specifics of the upcoming bond election by the Mineral County Board of Education.  This article provides responses to questions posed by readers of the Mineral Daily News-Tribune and the Cumberland Times-News.
1. Will passing this “bond” raise taxes?  How much?
Yes. As specified in state code, this is the only way a Board of Education
can actually “borrow” money.  This money cannot be levied without approval of the voters.
On a $75,000 house, the daily tax will be approximately $.17 or an annual assessment of $62.28.  A senior citizen with a homestead exemption on the same property would pay less than 9 cents per day or approximately $34 per year.  The charts below show examples of what the tax would be on personal property and real estate.  It should be noted that these figures are based on bonds being sold at the market rate of 4.35%.  If the bonds are sold at a lesser rate, the costs to tax payers would be less.  The bond is advertised for 15 years but it is anticipated that the bond would be paid off in approximately 13 years.  We are working with the financial firm of Ferris Baker Watts, Inc. in Charleston on determining the bond interest rates.
The tax increase incurred as a result of passage of the bond is for a designated amount of time.  The “payoff” period is usually less but cannot be longer than advertised in the bond call.  The bond call is a legal document.  Funds must be spent as outlined in the bond call.
Below you will find a few examples of how passage of this bond will affect taxes.  Please note that the tax increase on those renting property will be based only on their personal property.
Residential: Class II Property — Owner Occupied
Property Value (Appraised)/Assessed Value (60%)/Taxes at Current Market Rate 4.35%/Class II With the Homestead Exemption
$25,000          $15,000        $20.76        -0-
$55,000          $33,000        $45.68        $18.00
$75,000          $45,000        $62.28        $34.60
$125,000        $75,000        $103.80      $76.12
$155,000        $93,000        $128.72      $101.04
$195,000        $117,000      $161.93      $134.25
Class III and IV Property
Personal Property/Rental & Business Property/Vacant Land
Property Value (Appraised)/Assessed Value (60%)/Taxes at Current Market Rate 4.35%
$5,000        $3,000        $-0-
$10,000      $6,000        $13.80
$30,000      $18,000      $41.40
$50,000      $30,000      $69.00
$100,000    $60,000      $138.00
$150,000    $90,000      $207.00

2. Has the Board already hired:                
a.   architects?
b.   engineers?
c.   financial planners?
d.   bond counsel?
Yes, the Board of Education has contracted the services of all four entities listed.  However, payment to them would be contingent upon the passage a bond. They are not paid unless the bond passes.
3. Who will make decisions on building design?
Committees comprised of teachers and service personnel from the respective schools will design the buildings.  However, final decisions on building design must be approved by the Board of Education and all regulatory agencies.
4. Will the current football field at the site of the Keyser Primary School still be used? 
5. Will the baseball fields at the Wiley Ford Primary School still be there?
The answer to both questions is YES — Plans were carefully developed to maintain these facilities for our students and the communities.
6. Will we be getting any money from the School Building Authority?
The Board of Education has already been allocated $9,000,000 from the School Building Authority.  Receipt of this money is contingent upon passage of the bond.  If the bond does not pass the money allocated to Mineral County will be redistributed to other counties.
7. How much control does the SBA hold in determination of building characteristics?
The School Building Authority does not control the specific characteristics of a building.  Building plans must be approved by all regulatory agencies and then by the School Building Authority to assure compliance with all applicable fire, health and safety regulations.  They would only have approval over the two projects that will utilize SBA $$$$ — the new Keyser Primary School and the addition being proposed to the Wiley Ford Primary School.
8. When will the new schools open/when will the renovations be completed?
It is hoped that initial planning for the school could begin as early as this summer.  We already have site drawings and the basic plans developed for each project that has been identified in the bond call.  We would then hope to break ground for a couple of the projects this fall.  It is hoped that all projects would be completed by the 2010-2011 school year.