The 3.95-mill bond issue will cost $138.25 per year for each $100,000 of the appraised value of a home, officials say.
The bond issue will last 37 years and fund the $65 million project, according to Beachwood City Schools.
Officials say Beachwood City Council agreed to pause levying the City’s 2.4 charter mills for up to three years following the successful passage of the bond issue. “With the approval of this bond issue, the Beachwood community is investing in education for its future generations. We will now be able to maintain our tradition of educational excellence and provide the inspiring, high-quality, and secure facilities our students and staff deserve,” said Beachwood City Schools Superintendent Dr. Robert P. Hardis.
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