Portage Co. Issue 31 Crestwood Local School District – Bond Issue, Additional tax levy for permanent improvements
Amount: The total levy is 4.95 mills. 4.45 mills of that amount would be used to pay the interest and retire the principal of a $23 million bond issue throughout the stated maximum maturity of 30 years beginning in 2017. The balance of the levy—0.50 mill—is an Additional Levy and would generate approximately $152,000 annually for 30 years for the purpose of General Permanent Improvements.Explanation: The bonds will be used to construct a new 7-12 building. The 0.50 mill levy will be used for maintenance on the new building in the future. The 0.50 mill levy is required by the Ohio Facilities Construction Commission. (Jill Rowe, Crestwood Local Schools Treasurer)
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