The South-Western City School District board voted Monday, July 9, to place a 1.86-mill bond issue on the Nov. 6 ballot.
If approved, the bond issue would provide the district's share of costs associated with the second phase of South-Western's Ohio Facilities Construction Commission project.
The bond language that could be on the November ballot would not take into account the debt retirement at the end of this year that would allow the district to place the bond issue with no added millage for taxpayers, Superintendent Bill Wise said.
The board approved a resolution of necessity for the ballot measure June 11. According to the resolution, the bonds would be issued in the amount of $93,400,000; would be dated approximately Dec. 1; would bear interest at the estimated rate of 5.50 percent per annum; and would be paid over a period not to exceed 38 years.
The second phase would include construction of four new buildings for the district's four oldest middle schools – Brookpark, Finland, Norton and Pleasant View/ It also would include renovation of Jackson Middle School and East Franklin Elementary School.
Roofing and asphalt projects would also be completed at various school sites.
The state would provide half of the core cost of the school construction and renovation work, but would not provide funding for the roofing and asphalt projects.
For more on this story, read the July 12 edition of the ThisWeek Grove City Record.