School Board Sets Special Election for September 11th
July 23, 2012
The Logan-Magnolia Board of Education set Tuesday, September 11 as the date for a special election to renew the current Revenue Purpose Statement for the district. The Revenue Purpose Statement is the document that outlines how school districts are to spend money collected by the statewide once cent sales tax. According to State Law voters of the district must vote on renewing the current Revenue Purpose Statement. If passed, there will be NO financial impact to the voters of the district. If passed, this will allow the school to continue to use one cent sales tax dollars as it currently does - for infrastructure, technology and debt service needs. If not passed, the tax would still be collected but would only be available to the school for use with debt service, and the school could no longer use these dollars for infrastructure or technology. Therefore, failure to pass the Revenue Purpose Statement in its current form would put a financial strain on the district’s general fund and would eventually cause the school board to increase the local tax levy rate. If you have questions concerning the September 11 special election please contact one of your board members or Mr. Hammrich.