How was the decision made to pursue a bond referendum?​

The School Board and administration have actively studied the district’s facility challenges and examined potential solutions since the 2021-22 school year.

This process included the creation of a Master Facilities Task Force to engage with parents, district residents, and members of the business community, as well as a partnership with INVISION Architecture for facility assessments and professional consultation. The district also developed a Master Facilities Roadmap and engaged in work sessions with staff focus groups.

In July, the School Board accepted a project recommendation from the task force that proposed two phases of improvements based on funding sources.

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Will our communities vote on the proposed solution to the district’s needs?

Yes. Registered voters who reside in the Center Point-Urbana CSD will consider a general obligation bond on Tuesday, November 5, 2024. If it is approved, these funds would be used in concert with revenue the district receives from its voted Physical Plant and Equipment Levy (PPEL) and the one-cent statewide sales tax fund known as SAVE. The bond must be approved by at least 60% of voters.

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What is the amount of money provided by an approved bond?

If a supermajority of CPU voters (at least 60%) approve the bond referendum on Tuesday, November 5, the district would be able to receive up to $20.615 million for construction and improvement projects outlined in the ballot measure.

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If the bond is approved by voters, when would construction or new project begin?

Spring of 2027.

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How will an approved bond referendum affect property owners' consolidated property tax rate?

The bond proposal will not result in an increase in the debt service levy rate, which will remain stable at $4.05. This stability ensures that district property owners will not see an increase in the debt service portion of their taxes beyond what they have been accustomed to paying in recent years. The debt service levy is what is used to pay for these general obligation (GO) bonds, which fund critical infrastructure projects within our local school district.

While the debt service levy rate remains unchanged, the overall consolidated property tax rate, currently at $17.78, may be affected by other factors such as changes in funding needs or additional levies.

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Additionally, it’s important to understand that this bond proposal extends the time commitment for property owners to support these infrastructure needs. The existing general obligation bonds are scheduled to be paid off by Fiscal Year 2036, but with the new bonds, property owners will extend their commitment through Fiscal Year 2048.

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More information can be found in the Tax Impact section.

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If the bond does not pass in November and CPU decides to pursue it again in 2025, what would the new amount be?

The bonding capacity will likely remain similar to the current proposal because the current proposal already has been projected out for a 2027 bond issuance. An unusually large or small rate of property valuation growth and/or much higher or lower interest rates could have a slight impact on the ultimate amount that may be proposed later if the 2024 referendum is not successful.

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What is CPU's levy rate history?

The School Board and administration have a history of respecting the needs of our property taxpayers and balancing them with the needs of our students.​ Since 2005, the district’s levy rate has remained steady, with the highest rate in nearly two decades being $18.56 per $1,000 of taxable property value (in 2011) and the lowest rate at $17.06 (in 2006).