Shall bonds be issued by the Milford Exempted Village School District, Clermont and Hamilton Counties, for the purpose of NEW CONSTRUCTION, IMPROVEMENTS, RENOVATIONS AND ADDITIONS TO SCHOOL FACILITIES AND PROVIDING EQUIPMENT, FURNISHINGS AND SITE IMPROVEMENTS THEREFOR in the principal amount of Thirty-One Million Three Hundred Seventy-Five Thousand Dollars ($31,375,000), to be repaid annually over a maximum period of twenty-eight (28) years, and an annual levy of property taxes be made outside the ten-mill limitation, estimated by the county auditor to average over the repayment period of the bond issue two and five-hundredths (2.05) mills for each one dollar ($1.00) of tax valuation, which amounts to twenty and one-half cents ($0.205) for each one hundred dollars of tax valuation, commencing in 2008, first due in calendar year 2009, to pay the annual debt charges on the bonds, and to pay debt charges on any notes issued in anticipation of those bonds?
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