27. AKRON CITY SCHOOL DISTRICT- Proposed Bond Issue and Tax Levy
27. AKRON CITY SCHOOL DISTRICT – Proposed Bond Issue and Tax Levy - Shall the Akron City School District be authorized to do the following:(1) Issue bonds for the purpose of constructing, furnishing, and equipping a new high school to replace the School District’s existing North High School, with related site improvements and appurtenances thereto; acquiring, constructing, furnishing, and equipping new facilities for school district purposes, with related site improvements and appurtenances thereto; and acquiring land, and interests in land relating thereto in the principal amount of $85,000,000, to be repaid annually over a maximum period of 37 years, and levy a property tax outside the ten-mill limitation, estimated by the county fiscal officer to average over the bond repayment period 1.29 mills for each $1 of taxable value, which amounts to $45 for each $100,000 of the county fiscal officer’s appraised value, to pay the annual debt charges on the bonds, and to pay debt charges on any notes issued in anticipation of those bonds? (2) Levy an additional property tax to pay current operating expenses that the county fiscal officer estimates will collect $26,438,000 annually at a rate not exceeding 7.6 mills for each $1 of taxable value, which amounts to $270 for each $100,000 of the county fiscal officer’s appraised value, for a continuing period of time?The financial impact of measures varies depending on type of levy. Learn more at: https://fiscaloffice.summitoh.net/index.php/property-tax-rates
