New York State voters Tuesday overwhelmingly approved a proposal giving small-city school districts, including the Hudson City School District, far more equality and flexibility when borrowing to fund large-scale construction projects.
That’s good news for our school district. There are 57 small-city school districts in the state; those districts have fewer than 125,000 residents. Previously, these small-city school districts were under a New York State constitutional debt limit that permitted borrowing only up to 5% of the district’s total taxable property value. Larger school districts could borrow up to 10%. Now, small city school districts will be treated equally and can borrow up to 10% as well.
“Thanks to voters, the Hudson City School District will have much more flexibility when envisioning construction and renovation projects, which will maximize efficiency and cost effectiveness,” said Hudson Superintendent Dr. Juliette Pennyman. “This vote now means all school districts will be treated equally, which over time will help provide the most effective and supportive educational environments possible.”
More than 1.4 million residents voted “yes” on the proposal, and approximately 800,000 cast “no” votes, according to The New York Times.
Thank you for your support of this important proposal.
Dr. Juliette Pennyman, Superintendent
Willette Jones, President, Board of Education