How is a Bond different from a Levy?
There are major differences between a bond and a levy. Levies pay for day-to-day operations of schools including teachers, textbooks, supplies and extracurricular programs. They are a way for local communities to supplement state funding, which in Rocky River falls far short of providing for all that is required. A bond can only pay for capital improvement projects of 5 years or more. A bond cannot be used to pay salaries.
