The governing board of the Sedona-Oak Creek School District voted to hold a Tuesday, Nov. 6, election to allow the district to sell Class B bonds to raise money for schoolconstruction needs.

The governing board of the Sedona-Oak Creek School District voted to hold a Tuesday, Nov. 6, election to allow the district to sell Class B bonds to raise money for school construction needs.

Community and district meetings held during the spring under the guidance of PinnacleOne, the district’s construction consultant, recommended the $73.4 million amount the board approved at its Thursday, June 28, meeting.

SOCSD has three primary consultants on its bond project, PinnacleOne for construction, Stone and Youngberg for bond sales and tax consultations and Gust and Rosenfeld for legal issues.

Stone and Youngberg will dovetail the sale of the bonds with the retirement of the district’s previous bond.

This is to fulfill the district’s aim of not causing any rise in property taxes.

Stone and Youngberg’s figures show that this should be the case.

According the firm’s spokesman, Bob Cassillas, Yavapai and Coconino counties’

combined secondary assessed valuations for Fiscal Year 2007-08 is $5.6 billion.

The average full cash value of a home

within the SOCSD district is $444,985.

The bond portion of the taxes costs a resident 88 cents in Coconino County and 70 cents in Yavapai County per $100,000 assessed valuation.

Cassillas provided data to show that the tax rate will not increase to more than 70 cents and will average 54 cents per $100,000 assessed value in both counties.

The means an estimated annual cost of $239.58 for a $444,985 home and $134.60 for a $250,000 home.

For commercial and industrial property that is taxed at a higher rate, the annual cost is projected at $3,230.40 on $2.5 million of assessed valuation.