What is a bond?Issuing a bond is a way for school districts to borrow money to fund large projects. If approved by the community, a school district is able to sell bonds to investors to be repaid later. The voted increase in property taxes is used to pay back the bond holders.The basic steps in this process are:1. A school district gets consent from voters to raise taxes to pay for a bond.2. A financial institution sells the bonds and gives the money to the district.3. The voted tax increase pays back the bond over time.
Posted Wednesday, April 26, 2023
What is the plan for new facilities?The Board of Education has approved a plan that will construct a new elementary school (grades pK-5) on the property of the existing middle school in Berlin Heights. The current high school in Milan will be renovated and a new middle school (grades 6-8) will be added to it.