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Mariemont & Princeton City School District Bond Measures, 2 (May 2010)

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Two Mariemont & Princeton City School District Bond Measures were on the May 4, 2010 ballot in these two school districts which are in Hamilton County.

Both measures were approved

The Mariemont measure sought to create a bond in the amount of $39,800,000 in order to construct new additions to schools, renovate existing buildings and provide improvements and furnishings in the new buildings as needed. This will result in a $.52 cent increase in local property taxes.[1] School superintendent noted that while this was not the best time to ask for more money, the decrease in school funding is only going to get worse over the years and issues needed to be dealt with promptly. Budget cuts had already been made and school officials were trying not to cut more than was strictly needed.[2]

  • YES 1,869 (60.88%)Approveda
  • NO 1,201 (39.12%)

The Princeton City measure sought to create a bond in the amount of $120,000,000 in order to help with constructing new facilities, renovating existing ones, equipping buildings as needed and upgrading technology in classrooms.[1]

  • YES 5,132 (58.16%)Approveda
  • NO 3,692 (41.84%)[3]

Text of Measure

The Mariemont measure reads as follows:

Issue bonds for the purpose of NEW CONSTRUCTION, ADDITIONS, RENOVATIONS AND IMPROVEMENTS TO

SCHOOL FACILITIES AND PROVIDING EQUIPMENT, FURNISHINGS AND SITE IMPROVEMENTS THEREFOR, in the principal amount of $39,800,000, to be repaid annually over a maximum period of thirty-seven (37) years, and levy a property tax outside the ten-mill limitation, estimated by the county auditor to average over the bond repayment period five and twenty-eight hundredths (5.28) mills for each one dollar of tax valuation, which amounts to fifty-two and eight-tenths cents ($0.528) for each one hundred dollars of tax valuation, to pay the annual debt charges on the bonds, and to pay debt charges on

any notes issued in anticipation of those bonds?

The Princeton City measure reads as follows:

Issue bonds for the purpose of NEW CONSTRUCTION, IMPROVEMENTS, RENOVATIONS AND ADDITIONS TO

SCHOOL FACILITIES, AND PROVIDING EQUIPMENT, FURNISHINGS AND SITE IMPROVEMENTS THEREFOR, INCLUDING BUT NOT LIMITED TO TECHNOLOGY, SECURITY SYSTEMS, MEETING AREAS FOR COMMUNITY ORGANIZATIONS, SCIENCE LABORATORIES, CLASSROOMS DESIGNED FOR SPECIAL NEEDS STUDENTS AND FOR CAPITALIZED INTEREST IN CONNECTION WITH NOTES OR BONDS in the principal amount of $120,000,000 to be repaid annually over a maximum period of thirty-seven (37) years, and levy a property tax outside the ten-mill limitation, estimated by the county auditor to average over the bond repayment period three and fifty-two hundredths (3.52) mills for each one dollar of tax valuation, which amounts to thirty-five and two-tenths cents ($0.352) for each one hundred dollars of tax valuation, to pay the annual debt charges on the bonds, and to pay debt charges on any notes issued in

anticipation of those bonds?
[1]

References