Coventry Local School District Bond & Tax Levy Question (February 2013)

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A Coventry Local School District Bond & Tax Levy proposition was defeated on the February 5, 2013 election ballot in Summit County, which is in Ohio.

If approved, this question would have authorized the Coventry Local School District to impose an additional tax levy of 1.1 mills ($1.1 per $1,000 of assessed valuation) for a continuing period of time in order to fund acquisition, construction, enlargement, renovation and financing of general permanent improvements in the District. This question would also authorize the District to increase its debt by $28,308,500 by issuing general obligation bonds in that amount in order to fund construction and renovation projects. These bonds would be scheduled to mature in a maximum of 34 years and would require an additional tax levy of 4.89 mills ($4.89 per $1,000 of assessed valuation) for the duration of the bonds.[1]

Election results

Coventry LSD Bond & Tax Question
ResultVotesPercentage
Defeatedd No1,40258.13%
Yes 1,010 41.87%

Election results from Summit County, Election Results Summary Report.

Text of measure

Language on the ballot:

Shall the Coventry Local School District be authorized to do the following:
(1) Issue bonds for the purpose of constructing, renovating, remodeling, rehabilitating, adding to, furnishing, equipping and otherwise improving school district buildings and facilities, preparing and improving their sites, and acquiring real estate, buildings and facilities, and interest therein, for school district purposes, in the principal amount of $28,308,500, to be repaid annually over a maximum period of 34 years, and levy a property tax outside the ten mill limitation, estimated by the county fiscal officer to average over the bond repayment period 4.89 mills for each one dollar of tax valuation, which amounts to 48.9 cents 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 general permanent improvements at a rate not exceeding 1.1 mills for each one dollar of tax valuation, which amounts to 11 cents for each one hundred dollars of tax valuation, for a continuing period of time, commencing in 2013, first due in calendar year 2014? [1][2]

See also

External links

References

  1. 1.0 1.1 Summit County Ohio February 5, 2013 election notice
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.