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J <br /> it must pay to the Boulder Valley School District. The additional <br /> funds generated due to the Centennial Valley construction can be <br /> used for such things as highway and bridge repairs. <br /> Due Cb the projected growth in Centennial Valley and in the rest of <br /> Louisville over the nest fifteen years, additional capacity is re- <br /> quired for elementary, waddle and senior high schools. Anew 400 ►. <br /> ca it elementary school will be required by 1986 at an estimated <br /> -oag of 1.5 million dollar*s by 1992 a new addition will bi re- '• ,� <br /> Saired at an.estimated cost-of $240,000. Tho. Louisville 1�iddle `' <br /> chool will be at capacity by 1990. and by 1992 a major expansion <br /> will be required to accomodate 200 students at an estimated cost <br /> of 1.2 million dollars. Centaurus High School is currently over <br /> capacity. By 1984, 20 additional academic classrooms will be re- <br /> quired at an estimated cost of 1. 1 million dollars. The total cost <br /> of these additional classrooms is estimated to be $4,040,000. <br /> Exhibit 7 indicates that $1.688. 188 will be generated by Centennial <br /> Valley for the capital reserve fund. Although these funds can be <br /> used for any capital expenditures within the school district, such <br /> as roof replacement or new buses, they were generated by Centennial <br /> Valley and can be used for construction of new classrooms. The <br /> additional $2,351 ,812 could be made available from the approximately <br /> 2 million dollars generated per year within the school district for <br /> the capital reserve fund. If the school district does not desire or <br /> is not able to fund new classrooms entirely from capital reserve <br /> funds, a bond issue could be raised subject to approval by the en- <br /> tire school district. If a bond issue were passed, Centennial Valley <br /> would contribute to payment of principal and interest proportionate <br /> to the assessed valuation as related to assessed valuation of the <br /> total school district. <br /> 4Paul Turpin, Senior Consultant, Colorado Department of Education. <br /> February 16, 1979. <br /> 5John Morris, Boulder Valley School District, February 8, 1979. <br /> ?9 <br />_ 1 <br />