Three Rivers School District Bond Measure (May 2010)

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A Three Rivers School District Bond Measure was on the May 4, 2010 ballot in the Three Rivers school district in Hamilton County.

This measure was approved

  • YES 2,801 (50.92%)Approveda
  • NO 2,700 (49.08%)[1]

This measure sought to create a bond in the amount of $37.1 million in order to build a new K-12 school in the district. The state will also likely to add $25 million as well to the building project. A local resident though had come out against the wording of proponent's campaign, saying that the state funds were not guaranteed as they say but only likely. The resident felt that the words misled others who may not know the issue fully. Legally the state cannot guarantee the money until the bond is approved by voters, but noted that it would likely be there to be used.[2]

Text of Measure

The text of the measure reads as follows:

Shall bonds be issued by the Three Rivers Local School District for the purpose of CONSTRUCTION, ADDITIONS,

RENOVATIONS AND IMPROVEMENTS TO SCHOOL FACILITIES, LAND ACQUISITION AND PROVIDING EQUIPMENT, FURNISHINGS AND SITE IMPROVEMENTS THEREFOR, in the principal amount of $37,145,000 to be repaid annually over a maximum period of thirty-seven (37) years, and an annual levy of property taxes be made outside the tenmill limitation, estimated by the county auditor to average over the repayment period of the bond issue four and forty-seven hundredths (4.47) mills for each one dollar of tax valuation, which amounts to forty-four and seven-tenths cents ($0.447) for each one hundred dollars of tax valuation, commencing in 2010, first due in calendar year 2011, 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 period of twenty-three (23) years, to benefit the Three Rivers Local School District, the proceeds of which shall be used to pay the cost of maintaining classroom facilities included in the project at the rate

of one-half (0.5) mill for each one dollar of valuation?[3]

References