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New Bremen School District Bond & Levy Question (March 2012)

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A New Bremen School District Bond & Levy Question was on the March 6, 2012 ballot in the New Bremen school district area which is in Auglaize County.

The measure was defeated

  • YES: 590 (38.74%)
  • NO: 933 (61.26%) Defeatedd[1]

This measure sought to issue a bond in the amount of $13 million in order to help pay for a new school facility as well as to pay for equipment and furnishings for the new facility.

This measure also sought to add to the current school levy by a rate of $.10 per $100 of assessed property value for a continuing period of time in order to further pay for permanent improvement projects in the district.[2]

Text of measure

The question on the ballot:

This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.

Shall bonds be issued by the New Bremen Local School District for the purpose of constructing school facilities under the Classroom Facilities Assistance Program of the Ohio School Facilities Commission and locally funded initiatives related thereto: furnishing and equipping the same; and improving the sites thereof, in the principal amount of $13,000,000, to be repaid annually over a maximum period of 33 years, and levy a property tax outside the ten-mill limitation, estimated by the county auditor to average over the bond repayment period 7.3 mills for each one dollar of tax valuation, which amounts to $0.73 for every $100 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?

Shall an additional levy of taxes be made for a continuing period of time to benefit the New Bremen Local School District, the proceeds of which shall be used to provide funds for the acquisition, construction, enlargement, renovation, and financing of permanent improvements at a rate not exceeding 1mill for each one dollar of tax valuation, which amounts to $0.10 for each $100 of tax valuation?

References