Canton Local School District Bond Question (November 2012)
This question would have authorized the Canton Local School District to increase its debt and issue bonds in the amount of $36 million to be paid over 30 years for the sake of construction and renovation of school facilities. The estimated property tax rate necessary to pay back this debt is 6.7 mills ($6.7 per $1,000 of assessed valuation.
|Canton LSD Bond Question|
Election results from Stark County November 6, 2012 Election Results Summary
Text of measure
Language on the ballot:
|“|| Shall bonds be issued by the Canton Local School District for the purpose of constructing school facilities and renovating
and improving existing facilities; furnishing and equipping the same; and improving the sites thereof, in the principal amount of $36,000,000, to be repaid annually over a maximum period of thirty (30) years, and an annual levy of property taxes be made outside of the tenmill limitation, estimated by the county auditor to average over the repayment period of the bond issue six and seven tenths (6.7) mills for each one dollar of tax valuation, which amounts to sixty-seven cents ($0.67) for each one hundred dollars of tax valuation, commencing in 2012, first due in calendar year 2013, to pay the annual debt charges on the bonds, and to pay debt charges on any notes issued in anticipation of those bonds?
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