From the Kokomo Tribune:
Peru Community School Corp. officials gave their approval Monday night to borrow $4 million to repair some of the district’s deteriorating buildings.
The board of school trustees voted 6-1 in favor of securing two $2 million bonds to make repairs that the superintendent deemed critical.
...
The rate will increase by 4.9 cents per $100 of assessed valuation, the superintendent said. For a $100,000 home, that amounts to $49 a year.
Both bonds will be repaid in about 16 years, Brimbury said.
The superintendent blames property tax caps for the corporation’s predicament.
“We lose hundreds of thousands of dollars a year because of tax caps,” he said.
http://kokomotribune.com/local/x1690517230/Peru-schools-eye-4-million-in-bonds
