Breaking Down the Constitutional Amendment on Repeal of Debt Ceiling for Small City School Districts
On November 7, New York State voters will have the opportunity to remove the special constitutional debt limitation now placed on small city school districts (5%), so they will be treated the same as all other school districts (10%).
A 10% debt limit will allow projects of a larger scope and scale to be completed sooner with improved financial efficiency in small cities, such as Hudson.
This proposed amendment would affect the Hudson City School District and 56 other small city school districts in New York State. Approval of this amendment would not raise your taxes.
Allowing small city school districts to have a 10% debt limit would permit these school districts to conduct building planning and projects at the scale and scope necessary to efficiently and effectively make critically needed building upgrades and improvements in a timely and cost-effective manner. Should this amendment in November pass, it would not have any impact on non-city school districts.
Currently, small city school districts due to their 5% debt limit must address needed capital improvements for health and safety projects, HVAC improvements, roofing replacements, facility renovations and additions to address instructional and enrollment needs, as well as changing State requirement through a sequential series of smaller projects over a number of years in order to stay under the 5% debt limit cap. The proposed amendment to the State Constitution would eliminate this.
Any questions? Contact Superintendent Dr. Juliette Pennyman at 518-828-4360, ext. 2101