On May 2006, voters of the Little Miami Local School District approved a $62.5 million bond issue for new construction and renovations to all school facilities. Little Miami structured the bond issue to be fair for all residents over the 28 years. Since the district has had steady growth in recent years, and because we know the amount of new housing permits that have been approved, we are able to include future growth into the financing and average it at a rate of 4.25 mills. By averaging payments over the life of the loan, future residents will share equally in the cost with current residents.

Once the issue was approved, we quickly went into action to take advantage of the historically low interest rates before the market rates increased.

Links: