Marlington Local School District Bond Question (November 2012)
This question would have authorized the Marlingotn Local School District to increase its debt and issue bonds in the amount of $49,834,615 to be paid back over 36 years in order to fund the improvement of school facilities. The estimated property tax rate necessary for pay back this debt is 7.4 mills ($7.4 per $1,000 of assessed valuation). This Question would have also authorized the District to impose an additional property tax levy of 0.5 mills ($0.5 per $1,000 of assessed valuation) for a continuing period of time.
|Marlington LSD Bond Question|
Election results from Stark County November 6, 2012 Election Results Summary
Text of measure
Language on the ballot:
|“||Shall the Marlington Local School District be authorized to do the following:
(1) Issue bonds for the purpose of constructing, furnishing, equipping, adding to, renovating, remodeling, rehabilitating, and improving school district buildings and facilities, and clearing, improving and equipping real estate for school purposes in the principal amount of $49,834,615, to be repaid annually over a maximum period of 36 years, and levy a property tax outside the ten-mill limitation, estimated by the county auditor to average over the bond repayment period seven and four-tenths (7.4) mills for each one dollar of tax valuation, which amounts to seventy-four cents ($0.74) 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? (2) Levy an additional property tax to provide funds for the acquisition, construction, enlargement, renovation, and financing of permanent improvements at a rate not exceeding five-tenths (0.5) mill for each one dollar of tax valuation, which amounts to five cents ($0.05) for each one hundred dollars of tax valuation, for a continuing period of time?
- Stark County 2012 General Election Legal Notice
- Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
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