Fritch: financing options for five-year fix

NEBRASKA CITY – Today is the last day to register to vote for the May 11 levy override election for Nebraska City Public Schools.

Residents may register for the special election before 6 p.m. today.

Many ballots have already been mailed to eligible voters. All ballots must be returned to the Otoe County Clerk’s office by 5 p.m. on May 11 to be counted.

The school board proposes a levy override due to outstanding debt, including $1 million for the central office and $2.4 million in tax anticipation notes.

School Superintendent Mark Fritch says an additional 9 cents is needed to generate funds to release the district from the strain of debt on the general fund.

Fritch said a levy override will provide $3.5 million over five years to pay off the tax anticipation notes, correct the school’s cash flow problems that have resulted in local debt of $1.1 million and remove debt except for the school construction bonds.

 

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