Revenue Purpose Statement Communication

Dear Colo-NESCO Stakeholders,

The Colo-NESCO School Board has approved a Revenue Purpose Statement (“RPS”) and ordered an election to be held on March 5, 2024. The RPS specifies the use of revenues the  Colo-NESCO Community School District (the “School District”) will receive from the State of  Iowa Secure an Advanced Vision for Education fund (“SAVE” fund). The SAVE fund is generated by the statewide penny sales, services, and use tax imposed by the State of Iowa.  The School District receives SAVE fund revenue whether it has an RPS or not.

The School District’s current RPS was approved at an election held on June 30, 2009, and it will expire on January 1, 2031. If a majority of voters approve the new RPS, then it will replace the current RPS, and it will remain in effect until replaced or amended by the School  District.

Here is a copy of the new RPS:

In the Colo-Nesco Community School District, the following Revenue Purpose Statement which specifies the use of revenues the Colo-Nesco Community School District will receive from the State of Iowa Secure an Advanced Vision for Education Fund shall be adopted.

To provide funds to acquire or install information technology infrastructure (including improving buildings or sites for the purpose of accessing broadband digital telecommunications) and school safety and security infrastructure.

To provide funds to build and furnish a new school building or buildings; to build and furnish addition(s) to school buildings in the District; to remodel, reconstruct, repair, expand, and improve the school buildings in the District; to purchase and improve grounds; for demolition work; to furnish and equip district facilities.

To provide funds for the purchase, lease or lease-purchase of buildings, equipment (including transportation and recreation equipment), or technology and to repair transportation equipment for transporting students as authorized by law, to implement energy conservation measures, sharing or rental of facilities including a joint infrastructure project for the purposes of offering classes under district-to-community college programs as authorized in Iowa Code Section 423F.3(3)(c), procuring or acquisition of libraries, or opening roads to schoolhouses or buildings.

To provide funds to purchase land as part of start-up costs for new student construction program or if the sale of the previous student construction was insufficient to purchase land, and to purchase construction materials and supplies for a student-constructed building or shed intended to be retained by and used by the District.

To provide funds to make payments to a municipality or other entity as required under Iowa Code Section 403.19(2).

To provide funds for demolition, cleanup, and other costs if such costs are necessitated by, and incurred within two years of, a disaster.

To provide funds to establish and maintain public recreation places and playgrounds; provide for supervision and instruction for recreational activities; or for community education purposes.

To provide funds for the payment of principal and interest or retirement of general obligation bonds issued for school infrastructure purposes, energy improvement loans, loan agreements authorized by Iowa Code Section 297.36, sales, service and use tax revenue bonds issued under Iowa Code Section 423E.5 or Iowa Code Section 423F.4.

To provide funds for property tax relief; and

To provide funds for other authorized expenditures and purposes as now or hereafter permitted by law and designated by the Colo-NESCO Community School District.

If the RPS should fail to be approved by a majority of the voters who vote on the question, such failure shall not be construed to terminate or restrict authority previously granted by the voters to expend receipts from the SAVE fund.

If a majority of eligible electors voting on the question fail to approve this RPS, then upon expiration of the current RPS, revenues received by the School District from the SAVE fund shall be expended in the following order:

The payment of bonds for which SAVE Revenue has been pledged;

Reduction of bond levies under Iowa Code Sections 298.18 and 298.18A and all other debt levies;

Reduction of the regular and voter-approved physical plant and equipment levy under Iowa Code Section 298.2;

Reduction of the public educational and recreational levy under Iowa Code Section 300.2;

For any authorized infrastructure purpose of the school district as defined in Iowa Code Section 423F.3(6); and

For the payment of principal and interest on bonds issued under Iowa Code Sections 423E.5 and 423F.4

I just wanted to communicate this information prior to the March 5th Election. If you have questions, please don’t hesitate to reach out to me.

Marc Snavely, Superintendent
Colo-NESCO Community School District
[email protected]
(641) 377-228