CAMDEN — Preble Shawnee’s Board of Education approved a resolution last week to move forward with placing a bond issue and income tax levy back on the ballot for voter consideration this spring.
On May 2, voters will again be asked to approve a .75 percent income tax levy, and the issuance of bonds in the amount of $9 million, “for the purpose of paying part of the cost of constructing a new Junior/Senior High School and a new Camden Elementary, together with furnishings, equipment and site improvements, and all necessary appurtenances,” as well as a 2.5-mill tax levy throughout the life of the bonds to pay the interest on and retire the bonds.
The maximum maturity of the bonds is 37 years. The income tax would be imposed for 23 years, beginning Jan. 1, 2018, for the purpose of permanent improvements, according to ballot language.
According to school officials, the estimated local share is $7.29 per month for a $100,000 home in the Preble Shawnee School District. Additionally, the .75 percent income tax for permanent improvements will be used in conjunction with the bond issue to pay the cost of the proposed building projects.
Voters turned down the issue on election day in November — the measure failed, 2,260-1,995.
The Ohio School Facilities Commission (OSFC) approved over $29.2 million in state funding for school construction work for Preble Shawnee.
The funding, combined with $15.7 million from the district, will allow the district to move forward with the construction of a new elementary school and a new middle/high school that will have the capacity for career-technical education.
The total cost of the project is estimated at just over $45 million.
Reach Eddie Mowen Jr. at 937-683-4056 or on Twitter @emowen_RH.
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