VACTE to study capital plan options
The Valley Academy for Career and Technology Education District may form a capital study committee.
That is one of the items on the agenda for the Governing Board's regular meeting at 6:30 Wednesday night.
"It is a study committee to look at a capital plan for the joint district," said VACTE Superintendent Marv Lamer. "It could include a revenue bond.
"The law just changed this year to allow J-TEDs to build on our members' campuses," Lamer said.
He explained that in the past joint vo-tech districts were allowed to build only central campuses for their satellite high school districts.
"The VACTE board wanted to begin a process of looking at all of the options," Lamer said.
"We haven't identified any projects," he said. "And we haven't identified how that would be handled."
Lamer said the process will look forward and any ideas involving a revenue bond would be a slow process, one that likely would not unfold during the current economic recession.
Formation of the committee would, according to Lamer, include two board members from each of VACTE's three satellite high schools: Camp Verde High School, Sedona Red Rock High School and Mingus Union High School.
"Whatever comes out of this process has to have very strong individual board support," Lamer said.
He said a vote on a revenue bond for VACTE would include residents in all three of the satellite districts. But not all three districts would have to approve the measure individually. Lamer said it would require a plurality of the three districts.
Usually, school districts have a bonding capacity of 10 percent of the secondary assessed valuation within the district. A joint vo-tech district, however, is limited to a bonding capacity equal to 1 percent of that valuation.
Lamer said that for VACTE, the bonding capacity is about $13 million.
Other items on Wednesday's agenda include action on the board president's term and completion of the board presidency rotation. The board also will set its meeting times and schedule for the year.