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TAX ANTICIPATION NOTES <br />(Schools Only) <br />SCHEDULES <br />Tax anticipation notes are issued in anticipation of the collection of the proceeds of a property tax levy. The amount of money <br />required to cover debt service must be deposited into a bond retirement fund, from collections and distribution of the tax levy, in the <br />amounts and at the times required to pay those debt charges as provided in the legislation authorizing the tax anticipation notes. <br />(ORC Section 133.24) <br />The appropriation to the fund which normally receives the tax levy proceeds is limited to the balance available after deducting the <br />amounts to be applied to debt service. <br />After the issuance of general obligation securities or of securities to which section 133.24 of the ORC applies, the taxing authority of <br />the subdivision shall include in its annual tax budget, and levy a property tax in a sufficient amount, with any other monies available <br />for the purpose, to pay the debt charges on the securities payable from property tax. (ORC Section 133.25) <br />