Clovis Municipal School District will get $2 million in state funds for the design costs of renovating Marshall Junior High and James Bickley, Lockwood and Bella Vista elementary schools, Senator Ingle, along with Representatives Campos and Crook announced today.
The Public School Capital Outlay Council voted to award the funds to the school district after finding the district met the standards of a priority-based funding formula.
The state awarded a total of $93.4 million in capital outlay funds to 23 projects in 15 school districts. †New Mexico funds public school capital outlay by issuing bonds on severance tax revenue related to oil and gas extraction.
Under this process, all districts are eligible for state funds, but voters must approve property taxes to raise a matching amount. The level of the match varies with each school district. The matching formula takes into consideration the assessed value of properties in the district, property tax rates and other factors that affect the school district