OXFORD – Tomorrow, Oxford voters will decide whether or not to authorize the school district’s proposed $4.65 million Phase I capital project. Polls will be open from 1 to 9 p.m. on Thursday in the Oxford High School to allow district residents to cast their vote on the project, which will tackle a number of health, safety and code issues throughout the district.
According to Superintendent Randy Squier, none of the project’s cost will fall on local taxpayers.
“The funding for the proposed capital project will come entirely from the state,” explained Squier. “The district’s state building aid for capital projects and the state EXCEL grant aid will cover all costs.”
The superintendent expressed concern that some residents may be disconcerted by the exact wording of the referendum, which appears to imply that the funds for the project will be raised through the tax levy. This is not the case, he assured.
“The wording of the official resolution is to allow the school district to purchase insured bonds to finance the project,” Squier reported. “The state will not provide aid unless the bonds are insured.”
This was confirmed by Financial Advisor Ben Maslona, a representative from Fiscal Advisors, a Syracuse-based financial advising firm which specializes in school districts and local government.
“It is a zero percent tax impact,” Maslona reported to members of the district’s facility advisory committee on Sept. 1, explaining that while the project will be financed through a bond, one hundred percent of the cost will be funded by the New York State Education Department.