The Issue

The May 3, 2011 ballot issue is for a combined bond issue and operating levy.  If approved, this issue will not be collected until 2012.

Operating Levy Information:

• 7.9 mills, which is approximately $242 per $100,000 of home valuation as determined by county auditor or $726 for a home valued at $300,000.
• Operating levy dollars pay for expenses such as personnel, utilities, and classroom supplies.

Bond Issue Information:

Based on the projected enrollment growth, Olentangy’s Development Committee has recommended the building of a new elementary school. They have also recommended the following: improve technology, invest in capital improvements, and purchase buses and textbooks. The Development Committee is a group of 31 district taxpayers with extensive professional expertise in construction, architecture and technology. The $24.4 million issue includes:

Financial Structure of the Bond Issue

• Due to rapid growth in our community, the bond issue will be collected at "no additional mills." This allows future residents to pay more of their fair share.
• This plan addresses growth while keeping our tax rates low. Those already living in the district will see a much lower millage than they would have under traditional debt funding.
• Money raised through the issuance of bonds can only be used for the building of new buildings, remodeling of existing buildings, purchase of land for future buildings or purchase of new equipment (like buses and textbooks). The money cannot be used for operating expenses, which include staff salaries, utilities and everyday expenses.