Santa Fe, N.M., board to borrow first $11M for tech upgrades

Wednesday, April 9, 2014

It took the Board of Education just six weeks to borrow the first $11 million that was approved in February for technology, computer and software upgrades in the Santa Fe Public Schools.

In a 4-1 vote Tuesday, the board approved placing $11 million in bonds with the state of New Mexico, which will fund the first phase of what is being called the district’s Digital Learning Plan. The bonds and interest will be repaid with higher taxes on all property inside the district’s boundaries.

The estimated cost on a home with a taxable value of $100,000 is $150 a year, with the increase expected to reach tax bills later this year.

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