South Range school board votes to call in improvement bonds
NORTH LIMA -- The South Range Board of Education is calling in the remainder of the district's school improvement bonds early, which will save the district millions in interest.
The board, at a recent meeting, voted to call in those bonds, valued at nearly $1.4 million.
Treasurer Jim Phillips explained that the bonds were from an issue approved in 1992.
He said several of the bonds were redeemed in December 2003, and by calling in the remainder of the bonds the school district could save about $1.25 million in interest that would have been paid if the bonds were held until their expiration in 2014.
In other matters, Phillips reported the district could get up to $100,000 in additional taxes through a re-evaluation of several business properties in the school district.
The board previously reported some of the businesses had been undervalued on evaluations for tax purposes.
The Mahoning County Auditor's Office already has awarded some $47,000 in taxes to the district as a result the re-evaluation process, he added.
Also, the school board has moved its next meeting to 7:30 p.m. April 24 at the South Range Middle School in Greenford. Board meetings are typically held the third Monday of the month.