CHICAGO -- Ohio will borrow just under $1.9 billion of general obligation bonds over the next 10 years after voters authorized the bonds on a primary election day that saw a slew of bond approvals across both Ohio and Michigan.
The Buckeye State will issue $175 million a year for the first five years and $200 million a year for the remaining five years under the program. Proceeds will finance local government projects across the state. The Ohio Public Works Commission will oversee the borrowing.
It's the third time Ohioans have renewed the State Capital Improvement Program. Republican Gov. John Kasich supported the resolution.
Ohio also has a separate $2.4 billion capital budget, most of which will be financed with long-term debt.
Across Ohio, voters approved just under 70% of school levy requests, according to the Columbus Dispatch.
In Columbus, voters struck down a property tax increase request from the Columbus Zoo and Aquarium that would have raised nearly $33 million a year in a permanent levy. Some of the money would have been used to build a $65 million satellite zoo location.
It was a controversial local issue and 70% of the voters said "no" to the request.
Cuyahoga County Executive Ed FitzGerald won the Ohio Democratic gubernatorial primary and will run against Kasich in November.
In Michigan, voters overwhelmingly approved a $71 million bond proposal for Novi Public Schools, a double A-plus rated city in Oakland County about 25 miles outside Detroit.
The school district is one of the city's top employers. Proceeds will be used to build an early childhood education center, new elementary school classrooms and other projects.
Voters in the suburban Detroit Hamtramck school district approved a millage increase help pay for capital projects. The city of Hamtramck is under emergency management.
A controversial $21.5 million measure to rebuild the main public library in Birmingham was defeated by voters.
Voters approved bond requests totaling hundreds of millions of dollars for west Michigan school districts.
Among the measures that passed are a $76 million bond request for Rockford Public Schools, a $50 million measure for Spring Lake Public Schools, and a $90 million bond for West Ottawa Public Schools.
Residents also approved a $41 million borrowing by Caledonia Community Schools and a $31 million bond request by East Grand Rapids Public Schools.
In the city of Grand Rapids, voters approve two proposals to extend the income tax to pay for road repairs.
The income tax was originally enacted, by voter authorization, in 2010 and was set to expire in 2015. The tax will now run through 2030.
