A bond issue is a levy offered for construction activities with a specified term and amount. Proceeds from the levy are used to pay off the principal and interest on the bonds issued.
PROPOSED BOND ISSUE - RIVERSIDE LOCAL SCHOOL DISTRICT
Shall bonds be issued by the Riverside Local School District for the purpose of new construction, improvements, renovations and additions to school facilities, including providing equipment, furnishings, utilities and site improvements therefor in the principal amount of $147,725,000 to be repaid annually over a maximum period of 37 years, and an annual levy of property taxes be made outside of the ten-mill limitation, estimated by the county auditor to average over the repayment period of the bond issue 5.37 mills for each one dollar of tax valuation, which amounts to 53.7 cents for each one hundred dollars of tax valuation, commencing in 2022, first due in calendar year 2023, to pay the annual debt charges on the bonds, and to pay debt charges on any notes issued in anticipation of those bonds?
For the Tax Levy
Against the Tax Levy