Cheyenne Mountain Ballot Issue 4B
SHALL EL PASO COUNTY SCHOOL DISTRICT NO. 12 (CHEYENNE MOUNTAIN) DEBT BE INCREASED $80 MILLION, WITH A MAXIMUM REPAYMENT COST OF $162 MILLION, AND SHALL DISTRICT TAXES BE INCREASED NOT MORE THAN $8.8 MILLION ANNUALLY FOR CAPITAL PURPOSES, INCLUDING BUT NOT LIMITED TO:
• SAFETY AND SECURITY UPGRADES TO ALL SCHOOL BUILDINGS;
• ADDING ADDITIONAL LEARNING SPACES AT BROADMOOR ELEMENTARY SCHOOL AND CHEYENNE
MOUNTAIN ELEMENTARY SCHOOL;
• REPLACING SKYWAY ELEMENTARY SCHOOL WITH A NEW FACILITY ON THE EXISTING SITE;
• CONSTRUCTING AND EQUIPPING ADDITIONAL ATHLETIC AND ACTIVITY FIELD SPACES;
• REPLACING OR UPDATING ROOFS, BOILERS, AIR CONDITIONING, HEATING, ELECTRICAL, AND OTHER
BUILDING SYSTEMS; AND FOR ACQUIRING, CONSTRUCTING OR IMPROVING ANY CAPITAL ASSETS THAT THE DISTRICT IS AUTHORIZED BY LAW TO OWN; AND SHALL THE MILL LEVY BE IMPOSED IN ANY YEAR, WITHOUT LIMITATION OF RATE, BUT ONLY IN AN AMOUNT SUFFICIENT TO PAY THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON SUCH DEBT OR ANY REFUNDING DEBT (OR TO CREATE A RESERVE FOR SUCH PAYMENT), SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF GENERAL OBLIGATION BONDS; SUCH BONDS TO BE SOLD IN ONE SERIES OR MORE, FOR A PRICE ABOVE OR BELOW THE PRINCIPAL AMOUNT OF SUCH SERIES, ON TERMS AND CONDITIONS, AND WITH SUCH MATURITIES AS PERMITTED BY LAW AND AS THE DISTRICT MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF THE PREMIUM OF NOT TO EXCEED THREE PERCENT; AND SHALL THE REVENUES FROM SUCH DEBT AND TAXES AND ANY EARNINGS FROM THE INVESTMENT THEREOF BE COLLECTED AND SPENT AS A VOTER APPROVED REVENUE CHANGE UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION AND ANY OTHER LAW?
Total District Fiscal Year Spending
Fiscal Year 2026-2027 (estimated) $ 70,214,884 2025-2026 (unaudited) $ 64,930,404 2024-2025 (actual) $ 58,547,586 2023-2024 (actual) $ 54,567,816 2022-2023 (actual) $ 51,346,571
Overall percentage change from 2022-2023 to 2026-2027: 36.7%
Overall dollar change from 2022-2023 to 2026-2027: $018,868,313
Proposed Tax Increase
District Estimate of the Maximum Dollar Amount of the Proposed Tax Increase For Fiscal Year 2026-2027 (the First Full Fiscal Year of the Proposed Tax Increase): BALLOT ISSUE 4B: $008,800,000
District Estimate of 2026-2027 Fiscal Year Spending Without the Proposed Tax Increase: $070,214,884
Information on District’s Proposed Debt
BALLOT ISSUE 4B:
Principal Amount of Proposed Bonds: Not to exceed $080,000,000 Maximum Annual District Repayment Cost: Not to exceed $008,800,000
Total District Repayment Cost: Not to exceed $162,000,000
Information on District’s Current Debt 1
Principal Amount Outstanding Debt: $033,140,000 Maximum Annual Repayment Cost: $003,840,971 Remaining Total Repayment Cost: $049,381,832
Summary of Written Comments FOR Ballot Issue 4B:
• We shouldn't be fooled by the Issue 4B ballot language required by TABOR. $80 million for our schools with
no increase to our mill levy is a win for our school district and a win for all of us who pay property taxes in D- 12.
• District 12 is once again demonstrating responsible use of taxpayer money by waiting until the district can
issue bonds without having to increase our tax rate.
• A yes vote benefits both the school district and the taxpayers.
Summary of Written Comments AGAINST Ballot Issue 4B:
No comments were filed by the constitutional deadline.
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