What is the difference between a bond issue and an MLO?

What is the difference between a bond issue and an MLO?

A:

Revenues collected from a bond issue can ONLY be used for bricks and mortar - new buildings, renovations to buildings, repairs, furniture and equipment. A Mill Levy Override is typically used to fund operational costs, such as salaries, textbooks and digital content, computers, programs and learning materials. While Mill Levy Override dollars can be used for repairs and building maintenance, they typically are not. 

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