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Ridgemont School District Bond Measure (March 2012)

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A Ridgemont School District Bond Measure was on the March 6, 2012 ballot in the Ridgemont school district area which is in Logan and Hardin Counties.

The measure was approved
Hancock County:

  • YES: 554 (56.82%) Approveda
  • NO: 421 (43.18%)[1]

Logan County:

  • YES 95 (62.5%)Approveda
  • NO 57 (37.5%)[2]

This measure sought to issue a bond in the amount of $6,975,000 in order to help pay for constructing new school facilities as well as renovate and improve current facilities in the district. This measure would also add to the current school property tax by a rate of $.05 per $100 of assessed property value for a continuing period of time in order to further pay for permanent improvement costs in the district.[3]

Text of measure

The question on the ballot:

Shall the Ridgemont Local School District be authorized to do the following: 1. Issue bonds for the purpose of constructing school facilities under the State of Ohio Classroom Facilities Assistance Program of the Ohio School Facilities Commission and locally funded initiatives; renovating and improving existing school facilities; furnishing and equipping the same; improving the site thereof, and acquiring interests in land in connection therewith, in the principal amount of $6,975,000, to be repaid annually over a maximum period of 38 years, and levy a property tax outside the ten-mill limitation, estimated by the county auditor to average over the bond repayment period 5.07 mills for each one dollar of tax valuation, which amounts to $0.507 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 0.5 mill for each one dollar of tax valuation, which amounts to $0.05 for each one hundred dollars of tax valuation, for a continuing period of time?[4]

References

  1. 'Hardin County Board of Elections, March Election Results
  2. Logan County Board of Elections, Current Election Results (dead link)
  3. Hardin County Board of Elections, March Sample Ballot (dead link)
  4. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.