The Dexter school board has authorized $450,000 in educational technology notes to obtain equipment for classrooms and students.
Dexter Consolidated Schools Board of Education voted unanimously, 5-0, to approve the funding, said Board President Orlando Chaves.
“They help improve our technology,” said Chaves, “That is something the residents of this area are willing to do, to support financing for our schools.”
Superintendent Lesa Dodd said that the district does not have to ask voters to approve the financing.
“They are similar to bonds, but they don’t require voter approval,” she said. “The board can approve them.”
The legal notice refers to the arrangement as lease-purchase financing authorized by state statute. The “ed tech notes,” as Dodd referred to them, will be repaid by taxes levied on residents of the Dexter area.
Dodd said that the district typically renews the funding every five years and that the previous funding was at its end, which is why the district asked the board to approve the new financing arrangement.
Chaves said the financing is an ongoing need given how quickly technology changes and the lack of state funding for such acquisitions.
Dodd said that she expects the money to be available to the district by August, with purchases of laptops, desktop computers, printers, smart boards and other technology beginning thereafter.
But the district might not have the equipment purchased by the start of the next academic year, Aug. 14, she said.
“We will spend the money as soon as we can,” Dodd said, “but it will require some planning.”
Dodd said the district’s bond agent is RBC Capital Markets. RBC is an international firm with an office in Albuquerque as well as cities in nearby states.
Senior Writer Lisa Dunlap can be reached at 575-622-7710, ext. 310, or at email@example.com.