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Mayors propose Jordan District compromise
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This compromise shows just how much the west side IS getting from the east and how little the east gets back.
1) Of the $330 plus million spent by the Jordan School for captial improvements - 97% spent on the West side and 3% on the east side.
2) When the 2003 bonds were issued, the information provided by the Jordan School District showed 18.5% going to the East side and 81.5% to the West Side.
3) Of the nearly one billion in capital assets of the Jordan District - 78% will be going to the West side and 22% to the East side.
4) The East side will continue to pay over the next 15 to 20 years $270 million on the payments for the 2003 Bonds (97% funds to the west side).
5) The East side will pay over $3 million each year, and the total will be $12 million each year from all school districts in Salt Lake County to the West Side. Estimated that $344 million in subsidy will be going to the west side.
6) West and eaest side members of the legislature did vote. Some of the votes from the west side may surprise you.
Hardly unfair.
Gary: Keeping the liabilities associated with the assets was NOT on the table. The East side would be head-over-heels in love with that idea, 'cause then the west would have to actually pay for the 97% of the bonds they've used, rather than coughing up a mere 43%. [The law sates that real assets should stay in whatever district they're in).
With that in mind, the 97% of the 2003 bond being used solely on the west side is COMPLETELY accurate. Sorry to bust your whine.
The Equalization bill does NOT exclude the new district. The New District will be contributing MORE than any other SL County District (save SLC) to the growing (remaining) Jordan School District. The "pro-splitters" as they've been inacurrately called didn't support the equalization because it would save them money (it, in fact, costs them >$3.5 million per year!!!), they did it to pacify the whiners in the remaining Jordan School District.