WESTERVILLE, Ohio-The Westerville City School Board has unanimously decided to propose a combined bond-levies issue for the Nov. 5 ballot. This measure aims to fund infrastructure upgrades at four older elementary schools and support the district’s operating budget. The bonds would total up to $140 million with an estimated net average interest rate of 4.5%. The first levy, at 1.66 mills, will cover both interest and principal payments on these bonds, translating to approximately $58 in property taxes per $100,000 of appraised property value annually over a 37-year period, the maximum term of the bonds.
