 |
 |
Proposal Text
|
|
COVERT PUBLIC SCHOOLS DISTRICT NO. 18 COUNTIES OF VAN BUREN AND BERRIEN, MICHIGAN BUILDING AND SITE SINKING FUND TAX PROPOSAL This proposal, if approved by the electors, will allow the Covert Public Schools District No. 18 to levy a building and site sinking fund millage, the proceeds of which will be used to pay the cost of infrastructure improvements and repairs to the School District’s facilities. Pursuant to State Law, the expenditure of the building and site sinking fund millage proceeds must be audited, and the proceeds cannot be used for teacher, administrator or employee salaries, maintenance or other operating expenses. Shall the Covert Public Schools District No. 18, Counties of Van Buren and Berrien, State of Michigan, be authorized to levy 2.0 mills ($2.00 per $1,000 of taxable valuation), for a period of twenty (20) years, from July 1, 2011 through June 30, 2032, to create a building and site sinking fund for the purpose of the construction or repair of school buildings or any other purpose authorized under Michigan law? This millage would provide estimated revenues to the Covert Public Schools District No. 18 of approximately One Million One Hundred Thirty Six Thousand ($1,136,000) Dollars during the 2011 calendar year, if approved and levied.
