The Chieftain Stronger Bond 2023 proposal calculation is a lease revenue bond, which is the same type of school bond issue passed by voters in 2014.

A lease revenue bond is similar to a mortgage on a house. For example, if your home cost $200,000 and you put 20% down and borrowed the rest at the current 7% interest rate, the total principal and interest payments over 30 years would be $383,212.

For the Chieftain Stronger Bond 2023 proposal, SPS worked closely with a bond consultant to calculate the bond proposal total by taking into account:
- A Net Assessed Value or NAV (on taxable property) growth estimation at 3.50% annually
- Current interest rates plus .75%
- A 32 mills target levy
- A 25 year term

The following table shows the breakdown of each section of Proposition 1 based on the factors used to calculate the bond proposal:

Download this table.

PROPOSITION #1	Total Bond Proposal	Projected Proceeds for Project	Projected Financing Costs (25 years)
Construct, furnish, equip, and/or acquire improvements at the existing Sapulpa Junior High-Senior High complex to include but not be limited to: a new High School building on the existing site to be utilized for 9th-12th Grade instruction to include classrooms, restrooms, storm shelter, secure/safety entry, administrative space, kitchen, and a Performing Arts Center; and facility improvements for 8th Grade instruction as funds allow; or in the alternative to acquire all or a distinct portion thereof by lease purchase arrangement	$218,210,000	$112,600,000	$105,610,000

Construct, furnish, equip, and/or acquire improvements at District athletic facilities to include but not be limited to: a new indoor practice facility, new baseball field to include artificial turf, new softball field to include artificial turf, locker rooms, office space, bleachers, concession area, and restrooms at the Westside Athletic Complex; and new football locker rooms and office space at the existing Collins Stadium; or in the alternative to acquire all or a distinct portion thereof by lease purchase arrangement	$23,255,000	$12,000,000	$11,255,000

Construct, furnish, equip, and/or acquire improvements at the Sapulpa Public Schools Chieftain Center to include but not be limited to: additional gym space and locker room space for District athletic and student activities; or in the alternative to acquire all or a distinct portion thereof by lease purchase arrangement	$27,130,000	$14,000,000	$13,130,000

Construct, furnish, equip, and/or acquire improvements at the Agriculture Education Farm Facility to include but not be limited to: new barn doors, drainage improvements, security upgrades, and parking improvements; or in the alternative to acquire all or a distinct portion thereof by lease purchase arrangement	$1,940,000	$1,000,000	$940,000

Acquire HVAC equipment and controls, roofing improvements, and building furniture, fixtures, and equipment district-wide as needed and as funds allow; or in the alternative to acquire all or a distinct portion thereof by lease purchase arrangement	$1,670,000	$1,345,000	$325,000

Acquire technology equipment and instructional materials and equipment district-wide as needed and as funds allow; or in the alternative to acquire all or a distinct portion thereof by lease purchase arrangement	$3,335,000	$2,690,000	$645,000

Acquire athletic and band equipment and uniforms district-wide as needed and as funds allow; or in the alternative to acquire all or a distinct portion thereof by lease purchase arrangement	$820,000	$665,000	$155,000

Acquire playground equipment and playground improvements for certain school sites as needed and as funds allow; or in the alternative to acquire all or a distinct portion thereof by lease purchase arrangement	$390,000	$200,000	$190,000

TOTALS	$276,750,000	$144,500,000	$132,250,000

Bond 2023

Scroll through and select a section to see progress, completed bond projects, and design renderings.

Frequently Asked Questions

View the video below for a summary of projects.