The Dowagiac Union Schools Board of Education provided some much needed relief for district taxpayers last week.

The board announced last Monday that it has again refinanced a portion of the bonds responsible for funding the construction of Dowagiac Middle School in 2002, selling them to another bonding firm at a lower interest rate. The sale, which was worked out in late July, results in the district saving $1.25 million for the remaining life of the bond issue, which is expected to close by 2026.

More importantly, taxpayers will also benefit from the sale, as the district will lower the amount of mills assessed on district households from 2.85 to 2.7 mills.

The sale was the latest in several similar actions the district has taken to lower the financial burden on its residents since the passage of the middle school bond issue in 2001. The district originally assessed a millage rate of 3.94 on district households for repayment of the $23.7 million bond, and has steadfastly worked to lower that number over past 14 years.

This fact can, and should, be an important arrow in the district’s quiver as they begin their campaign to promote another crucial bond issue: the pair of proposed bonds that will fund nearly $40 million worth of security, technology and infrastructural renovations for Dowagiac Union High School, the district’s elementary school buildings and Chris Taylor Alumni Field.

Voters will decide whether or not to approve the bond proposals Nov. 3. If both are approved, taxpayers will be responsible paying an additional 3.5 mills to the rate already being assessed by the district, which will no doubt be an added financial strain to many households.

As demonstrated by the board on Monday, district leaders are committed to easing the tax burden placed on the families they serve. There’s little doubt they will work toward lowering the millage rate on these proposals should voters give them the green light.

With the Niles Community Schools administration already refinancing the bonds passed in May for the improvement of its school facilities, relief for Dowagiac taxpayers could come sooner than they expect as well.

When residents enter the poll booth in November, we ask that they keep this fact in mind before they make their decision.

 

Opinions expressed are those of the editorial board consisting of Publisher Michael Caldwell and editors Ambrosia Neldon, Craig Haupert, Ted Yoakum and Scott Novak.