Margaretta Schools mulls levy renewal
Nov 22, 2011 at 11:02 AM
Leaders at Margaretta Schools know they must ask voters to renew a permanent improvement levy that expires by 2013. The question is, do they want a five-year levy or a continuing levy?
On Monday three board members agreed to pursue the continuing levy, but they lacked the votes to move the issue forward.
The 1.5-mill levy has been on the books for three decades, but the board is considering presenting it to voters as a continuing levy because the district could then borrow as much as half the amount the levy would collect over a 10-year period
The levy generates about $173,000 a year, but the school district could borrow as much as $875,000 if voters approve it for a continuing period of time.
The board has until Dec. 7 to place either a five-year levy or a continuing levy on the March ballot. It will likely schedule a special meeting within the next two weeks to make a decision.