EAST GRAND RAPIDS PROPOSITION IV -- OPERATING MILLAGE PROPOSAL

This proposal will enable the school district to levy the statutory rate of 18 mills on all property except principal residence and qualified agricultural property required for the school district to receive its revenue per pupil foundation allowance. Shall the limitation on the amount of taxes which may be assessed against all property, exempting therefrom principal residence and qualified agricultural property as defined by law, in East Grand Rapids Public Schools, Kent Co, MI be increased by 2 mills ($2.00 on each $1,000.00 of taxable valuation) for a period of 4 years, 2006 to 2009, inclusive, to provide funds for operating purposes; the estimate of the revenue the school district will collect if the millage is approved and levied in 2006 is approximately $42,836 (this millage is to restore millage lost as a result of the reduction required by the Michigan Constitution of 1963 and will be levied only to the extent necessary to restore that reduction)?