By early 2005 interest rates had again dropped considerably to the point that the District’s 1998 $32,000,000 bond issue provided savings levels that made it attractive to refund. The 1998 original bond issue was quite unique among Ohio school bond issues in that the City of Barberton had the good fortune of selling the city hospital to a private concern in 1997. With the proceeds of the sale, the City created the Barberton Community Foundation whose mission it is to fund philanthropic projects throughout the community, including school-based initiatives. The first project funded by the foundation was the new high school that the original bond issue funded. The Foundation agreed to pay the debt service on the bond, even though voters still needed to approve the issuance

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