2018 BOND APPROVALPROCESS

January 13, 2021Mill Bond Oversight Committee

TIMELINE OF FIRST 6 MONTHS

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November 2018• Voters pass

5B (bond) ballot measure

December 2018• DCSD hired

NV5 as bond owner’s construction representative firm

January 2019• DCSD and

NV5 begin draw schedule based on Master Capital Plan identified work

February 2019• Bonds sold at

a premium with $290.8M total proceeds

March 2019• MBOC

members selected and committee launched

April 2019• First MBOC

meeting with Bond Progress Report

BALLOT LANGUAGE

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SHALL DOUGLAS COUNTY SCHOOL DISTRICT DEBT BE INCREASED $249,975,000 WITH A REPAYMENT COST OF $399,000,7000 AND SHALL DISTRICT TAXES BE INCREASED $34,440,150 ANNUALLY TO PAY SUCH DEBT, ALL FOR THE PURPOSE OF:

ENHANCING SAFETY AND SECURITY INFRASTRUCTURE AT ALL SCHOOL BUILDINGS AND FACILITES;PROVIDING EQUIPMENT, CLASSROOM MATERIALS AND TECHNOLOGY TO PROVIDE LEARNING OPPORTUNITIES IN ACADEMICS AND CAREER-BASED SKILLS’UPDATING SCHOOL BUILDINGS TO CONTINUE PROVIDING SAFE, EFFICIENT, QUALITY LEARNING ENVIRONMENTS FOR STUDENTS AND STAFF;AND FOR ACQUIRING, CONSTRUCTING, OR IMPROVIING ANY CAPITAL ASSETS THAT THE DISTRICT IS AUTHORIZED BY LAW TO OWN;

AND SHALL THE MILL BEVY BE INCREASED INANY YEAR WITHOUT LIMATATION AS TO THE RATE AND AMOUNT SUFFICIENT TO PAY THE PRINCIPAL OF, PREMIUM, IF ANY, ANYD INTEREST ON SUCH DEBT OR ANY REFUNDING DEBT (OR TO CREATE A RESERVE FOR SUCH PAYMENT) PROVIDED THAT ANY REVENUE PRODUCED BY SUCH MILL LEVY SHALL NOT EXCEED $34,440,150 ANNUALLY; SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF GENERAL OBLGATION BONDS TO BE SOLD IN ONE SERIES OR MORE, FOR A PRICE ABOVE OR BELOW THE PRINCIPAL AMOUNT OF SUCH SIERES, ON TERMS AND CONDITIONS AND WITH SUCH MATURITIES AS PERMITTED BY LAW, INCLUDING PROVISIONS FOR REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF THE PREMIUM OF NOT TO EXCEED ONE PERCENT; AND SHALL SUCH TAX REVENUES AND THE EARNINGS FROM THE INVESTMENT OF SUCH BOND PROCEEDS AND TAX REVENUES BE COLLECTED, RETAINED AND SPENT AS A VOTER APPROVED REVENUE CHANGE UNDER ARTICLE X, SECTION 20 OF TH ECOLORADO CONSTITUTION OR ANY OTHER LAW?

DISTRICT CABINET SCREENING COMMITTEE

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• Capital Improvement Projects• New Construction (CVHS F-Pod and Alternative

School)• Athletics• Career and Technical Education• District-wide Initiatives• Furniture• Personalized Learning

• Playgrounds• Security• Support Facilities• Technology• Transportation• Administration*• Innovation Campus**

* Administration includes outside consulting services, in-house accounting and construction management and one-time payments toward bond issuance cost, underwriter discount fee and Certificate of Participation Lease Payment** Innovation Campus not included in $249,975,000 par value of bond and funded exclusively from premium and interest

Based on the parameters set forth in the ballot language and the needs identified in the Master Capital Plan, District leadership set aside funding into the following categories as presented quarterly to MBOC:

DISTRICT CABINET SCREENING COMMITTEE

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Bond Prioritization CategoriesAllocated Funding (Prioritization List) 18-19 Actuals 19-20 Actual 20-21 Projection 21-22 Projection 22-23 Projection 23-24 Projection

Projects Funded by Par Value of BondAdministration $ 6,318,661 $ 755,323 $ 1,749,242 $ 1,827,147 $ 1,232,592 $ 563,815 $ 190,542 Athletics 6,000,000 422,000 1,647,969 2,039,735 1,890,296 - -District Initiatives 8,000,000 993,588 737,839 3,044,171 1,897,266 899,266 427,871 Personalized Learning-SPED 600,000 19,428 113,191 208,000 193,347 66,034 -Personalized Learning-ADA 600,000 - - 250,000 350,000 - -Playgrounds 600,000 15,882 209,846 350,000 24,272 - -Technology-Student/Staff 11,906,292 3,114,769 5,379,352 3,412,170 - - -Transportation 8,000,000 1,023,125 5,800,701 397,050 779,124 - -Security 12,000,000 - 2,685,719 6,068,191 3,246,090 - -Support Facilities 3,700,000 94,454 605,104 1,000,000 2,000,442 - -Furniture 2,000,000 - 1,195,775 784,000 20,225 - -Charter Security 3,000,000 - 113,900 2,050,000 836,100 - -Career and Technical Education 13,700,000 - 910,132 6,470,245 6,319,623 - -New Alternative Education School 13,100,000 26,609 190,311 754,606 10,868,622 1,244,947 14,904 CVHS F Pod Addition 14,900,000 168,862 1,272,965 11,919,562 1,538,612 - -

Capital Improvement Projects (CIP) 145,550,047 8,568,581 41,598,157 77,364,417 13,609,563 4,409,328 -

Total Bond - Par $ 249,975,000 $ 15,202,620 $ 64,210,204 $ 117,939,294 $ 44,806,175 $ 7,183,389 $ 633,317

Projects funded from Bond PremiumCertificate Of Participation Lease Payment Fund $ 12,033,334 $ 12,033,334 $ - $ - $ - $ - $ -Underwriter Discount 1,062,394 1,062,394 - - - - -Bond Issuance Costs 351,524 351,524 - - - - -Technology-Student/Staff Premium 4,241,809 - - - 2,523,517 1,718,292 -CIP Overrun 15,000,000 - - - 15,000,000 - -New Innovation Campus - Pine Drive-Premium 8,127,748 - 100,225 2,134,143 5,893,380 - -

Total Bond -Premium $ 40,816,808 $ 13,447,251 $ 100,225 $ 2,134,143 $ 23,416,897 $ 1,718,292 $ -

Projects funded from Projected Bond InterestNew Innovation Campus - Pine Drive-Interest $ 11,960,706 $ - $ - $ - $ - $ 11,960,706 $ -

Total Projected Bond - Interest $ 11,960,706 $ - $ - $ - $ - $ 11,960,706 $ -

Grand Total $ 302,752,513 $ 28,649,872 $ 64,310,429 $ 120,073,437 $ 68,223,072 $ 20,862,386 $ 633,317

MBOC ROLE

The responsibilities of the MBOC include• Assisting the BOE in fulfilling its responsibility to provide transparency and assurance that mill levy and

general obligation bond funds, approved by Douglas County voters in November 2018, are spent as intended and represented to the voters

• Reporting periodically, at least annually, to the BOE regarding the status of MLO/Bond expenditures• Assisting in maintaining public trust and confidence in the District through active involvement in

MLO/Bond project communications• Meeting regularly to review progress to date• Reviewing MLO/Bond expenditures for alignment with ballot language approved by voters• Participating in scheduled site visits during construction, as invited by the DCSD Chief Operations

Officer• Reviewing the Chief Financial Officer’s recommendations for maintaining congruence between financial

statements and identified spending of MLO/Bond funding• Reviewing the ongoing master schedule of projects• Providing regular updates to the DCSD Communications Team that can be shared with the community

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