SUMMARY OF SALE
March 11, 2020
$121,730,000
School Improvement Bonds, Series 2020
General Obligation – Unlimited Tax | Tax Exempt
About the Project
Authorization & Purpose
The Bonds are being issued to current refund the School District’s outstanding $127,500,000 Unlimited Tax General Obligation School
Improvement Bond Anticipation Notes, Series 2019, dated December 27, 2019 and maturing on April 15, 2020 (the “Notes”) that were
issued for the purpose of new construction, improvements, renovations, and additions to school facilities, and providing equipment,
furnishings, and site development and improvements, and all necessary appurtenances therefor, authorized pursuant to a vote of the
electors of the District at an election held on November 5, 2019; the general laws of the State of Ohio, particularly Chapter 133 of the
Ohio Revised Code (the Uniform Public Securities Law); and a resolution authorizing this issue, adopted by the Board of Education on
December 4, 2019 (the “Bond Legislation”).
Security
The Bonds are voted general obligations of the District. The Board of Education will pledge the full faith, credit and revenue of the Board of Education thereto, and levy on all the taxable property in the School District, in addition to all other taxes, an annual tax sufficient in amount to provide for payment of the principal of and interest on the Bonds. Such taxes can be expended only for the purpose of paying the principal of and interest on the Bonds (together with costs of issuing the Bonds), and are unlimited as to rate or amount, therefore, the rate of millage actually levied in each year while the Bonds are outstanding will be such as is determined to be necessary by the County Auditor to produce the amount necessary to pay principal and interest due in that year, giving due consideration to the School District’s assessed valuation and previous tax collection experience.