Are there any statutory requirements about spend-down on millage approved in a bond issue? If a bond issue was approved for 5 mills but the project was phased, and phase 1 only required the levying of 2.5 mills, is there any timeframe the district would need to levy the balance of the mills?
Not really. Minimum to levy is 10% of the millage needs to be assessed within six Januarys after the election. That’s it.