Mead School District 354

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What is a Bond?

A Facilities Improvement Bond is a voter approved local property tax that pays for the construction of buildings and facilities. Bonds act like a home mortgage and are generally carried for 10 to 20 years. Bonds are what paid for the construction of the new Northwood Middle School and will pay for the modernization of Midway and Shiloh Hills. 60% of voters must vote “yes” for bond measures to pass. An additional requirement is that at least 40% of voters from the immediate past general election must vote in order to validate the election.