#6 City of Columbus – Proposed Bond Issue
BALLOT ISSUE #6City of Columbus – Proposed Bond Issue #2Explanation:Recreation and Parks.Shall bonds be issued by the City of Columbus for the purpose of acquiring, constructing, renovating, and improving infrastructure for the Department of Recreation and Parks, including municipal parks, playgrounds and recreation facilities, acquiring real estate and interests in real estate, landscaping and otherwise improving the sites thereof, and acquiring furnishings, equipment and appurtenances in the principal amount of $250,000,000, to be repaid annually over a maximum period of 17 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 0.78 mill for each $1 of taxable value, which amounts to $27 for each $100,000 of the county auditor s appraised value, commencing in 2025, first due in calendar year 2026, to pay the annual debt charges on the bonds, and to pay debt charges on any notes issued in anticipation of those bonds?See the full text of issues at the Franklin County Board of Elections.Source: Franklin County Board of ElectionsLeague Explanation:This issue would allow the City of Columbus to issue $250,000,000 in bonds for recreation and parks facilities. The bonds would be repaid through a property tax of 0.78 mills, costing $27 per year for each $100,000 of a home’s appraised value, for 17 years beginning in tax year 2025, which voters will see reflected when they file their 2025 taxes in Spring 2026. A “yes” vote approves this funding for the listed projects. A “no” vote rejects this source of funding.
