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Ontario SD 8C hears options to replace expiring bond; state match could add about $12.25 million
Summary
District staff outlined two bond options to replace the 2010 debt retiring in 2027: a full $18.5 million to keep taxes neutral, or a smaller local ask (~$12.25 million) that would secure a state match and reduce the local tax rate, while extending roughly $30 million for projects.
District staff told the Ontario SD 8C school board that the district’s 2010 bond debt will retire in 2027 and outlined two primary options for replacing it.
Deb, a district presenter, said the district can ask voters for the full $18.5 million that currently funds the bond—keeping taxpayers at roughly the same rate they pay now—or pursue a lower local ask that secures a state match. "If we pass that amount, we get that amount from the state," Deb said, describing a tier-one match the district would receive if it secures the matching grant.
The staff presentation laid out two scenarios: seek $18.5 million so the tax rate remains essentially neutral, or seek about $12.25 million in…
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