New industrial plants in school district -- Duty of school district.

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  • (1) bond to its maximum capacity and maintain maximum bonding by rebonding at least once every other year until building needs are met;
  • (2) maintain an annual property tax levy for capital outlay and debt service combined of not less than .0036 per dollar of taxable value; and
  • (3) initiate any action necessary to qualify for any state, federal, or other funds for capital outlay for which the district may be eligible.




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