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Bath School District Bond Measure (March 2012)

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A Bath School District Bond Measure measure was on the March 6, 2012 ballot in the Bath school district area which is in Allen County.

The measure was approved

  • YES: 1,665 (53.01%) Approveda
  • NO: 1,476 (46.99%)[1]

This measure sought to issue a bond in the amount of $25.1 million in order to help pay for building a new elementary school building as well as equipping and furnishing the new facility. A levy will also be implemented to pay for the bond set at a rate of $.534 per $100 of assessed value for the life of the bond.[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 Board of Education of the Bath Local School District, for the purpose of PAYING THE COST OF CONSTRUCTING A NEW PK-5 ELEMENTARY BUILDING AND DEMOLISHING THE OLD ELEMENTARY BUILDING, TOGETHER WITH FURNISHINGS, EQUIPMENT, LANDSCAPING AND ALL NECESSARY APPURTENANCES, in the principal amount of $25,100,000 to be repaid annually over a maximum period of 37 years, and an annual levy of property taxes be made outside the ten-mill limitation, estimated by the county auditor to average over the repayment period of the bond issue 5.34 mills for each one dollar of tax valuation, which amounts to $0.534 for each one hundred dollars of 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?

References