Say goodbye to a Lebanon Icon!
The district lists outstanding debt of $62,550,630. This debt is being paid off through 2031. They also borrowed $3,740,000 in 2006 that is being paid through the General Fund. This is debt that is to be paid off in 2031.
These financial wizards (not) borrow money with no regard for the expense involved in receiving these "gifts." See the following examples of interest payments:
Principal Interest Total
2013 $2,410,972 $1,776,413 $4,187,385
2014 $1,775,438 $2,305,492 $4,080,930
2015 $1,840,760 $2,355,490 $4,196,250
2016 $1,923,766 $2,370,208 $4,293,974
2017 $3,154,000 $1,412,376 $4,566,376
2018-2022 $13,098,581 $5,509,532 $18,608,113
2023-2027 $10,704,407 $4,586,882 $15,291,289
Total $41,791,924 $20,758,706 $62,550,630
The above numbers are from the audit. This is the long-term debt of the district. Part of the reason the debt is so high is that the district failed to file the proper papers with the Ohio School Facilities Commission when Bowman and the high school were built. The taxpayers are paying the penalty for the neglect of the people in charge. This is the debt we now owe. There may be more in the form of long-term lease agreements.
Can we really afford to double the debt? How do we know the administration will file the proper documents this time around? Some of the same people are in place. The new ones don't seem to be better qualified. Before we tear down most of the schools in the district lets put some qualified people on the board and in charge.
The only people that seem to make out like bandits in these deals are the banks that carry the loans. These loans are guaranteed by our property. The bankers cannot lose.
Below is an example of how the district goes after property owners. I have heard them mention homeowners in the same light.
On March 18, 2010 the local paper had an article headlined: "School district hires firm to track property sales." This article was written by Richard Wilson.
"Lebanon school board members unanimously agreed to hire a firm, Monday night, March 15 (2010), that will track commercial property sales and identify those where the school district would receive more tax revenue if the assessed value was adjusted based on the most recent sale and identify those where the school district would receive more tax revenue if the assessed value was adjusted based on the most recent sale." The firm hired was Frost Brown Todd attorneys from West Chester, Ohio.
I have in my possession a four inch stack of invoices pertaining to attorneys that serve the LCSD. These documents were obtained per the "Sunshine Law" that gives citizens the legal right to see where our money is being spent. The LCSD charged us almost $40.00 to provide these documents.
Interesting is that Frost Brown Todd attorneys were paid thousands and thousands of dollars during the three years that we obtained. Other firms used by the district are Ennis, Roberts, & Fischer and also Bicker & Eckler.
We pay for these attorneys. The abuse of our administrators freely calling for consultations for such routine requests as a "public documents request" is a waste of money.
The necessity of paying thousands of dollars to a law firm to check with the county auditor regarding the increase in value of property is waste. The LCSD treasurer has clerks in his office. I'm sure that one of them could check on the property sales once a month and compare the sale price of property in the district. Instead the district wastes our money paying an expensive law firm.
They further wasted our money paying lawyers to take a local mother to the Ohio Supreme Court. They challenged her right to sit in on a school board meeting. This case was just another case of the district rulers challenging the rights of citizens to see and hear their actions. Their way of keeping people out of the loop is to declare an executive session. It seems that the justices didn't agree with their methods. INTIMIDATION does work for most of the school districts. Read about Greenon School district at:
This case was over three moms saying no to a levy. They were sued by pro levy lawyers. Luckily the moms won.
Remember, It is never for the Children.